Tech Dealmaker Awards

Raising capital isn’t the only benefit of having a successful IPO. For EnerNOC Inc., a Boston-based energy management company, winning the confidence of utility and grid operator customers — with millions of homes and business relying on its infrastructure — and showing its stability in the marketplace was paramount. Clients like Independent System Operators of New England, which manages six-state power grids, need a little reassurance.

“These are not risk-taking individuals, and for good reason. They want to know the company they are doing business with has the wherewithal to be here tomorrow, the day after, and 10 years down the road,” said EnerNOC CFO Neal Isaacson. “What better way to show we are here for the long run than to become a public company, to have the money on the balance sheet and that transparency.”

EnerNOC filed its IPO in February, offering more than 3.5 million shares at $26 per share and expecting to raise $85 million. In May, the company officially went public, raising $99 million. It now has a market capitalization of over $700 million, with 18.5 million shares outstanding.

The company is using its funding to expand. EnerNOC now has operations in California, Delaware, Florida, Maryland, New Jersey and New Mexico.

In October, EnerNOC filed for a second offering of 2.5 million shares, at $43 per share, to finance research and development and provide cash for possible future acquisitions, which could raise another $107.5 million in proceeds.

— Stephen Desantis is a freelance writer in Roxbury.

Category

Initial Public Offering

The Deal

EnerNOC Inc. staged a $99 million IPO. Company was public as of May 18, 2007.

Key Executives

Tim Healy, CEO; David Brewster, COO; Neal Isaacson, CFO.

Deal advisers

Financial: Credit Suisse Securities (USA) LLC, Morgan Stanley & Co., Canaccord Adams Inc., Jefferies & Co. Inc., Pacific Growth Equities LLC.

• Platinum Sponsor:
• Gold Sponsors: Capital Source
  Silicon Valley Bank
  TM Capital
  Vitale, Caturano & Co.
• Silver Sponsors: Capital IQ
  Citizens Bank
• Supporting Sponsors: Mass High Tech
  Preston Productions
  Trinity Communications

Become a Sponsor »