SOLV Energy, Inc., a company specializing in infrastructure services for the power industry, has completed its initial public offering (IPO), raising $589 million. The offering consisted of 23,575,000 shares of Class A common stock at a price of $25.00 per share. This total includes the full exercise of the underwriters’ overallotment option.
Founded in 2008, SOLV Energy provides services such as engineering, procurement, construction, testing, commissioning, operations, maintenance and repowering for the power sector.
Weil advised SOLV Energy on this transaction. The legal team was led by Alex Lynch and Ashley Butler from Capital Markets; Michael Lubowitz from Mergers & Acquisitions; and Ryan Taylor from Private Equity. Other members included Stefan Tsourovakas, Alex Hansen and Caroline Granitur (Not Yet Admitted in New York) from Capital Markets; Rachel Shapiro, Amanda Kadish and Katie Retzbach from Mergers & Acquisitions; Yoni Hassin and Sam Mendelson from Private Equity; Jason Vollbracht, Andrew Lawson and Griffin Baker from Tax; Andrew Colao, April Lewtak and Emma Xing from Banking & Finance; Lyuba Goltser, Steven Bentsianov and Allie Williams from Governance, Securities & Reporting; Amanda Rotkel and Amanda Nowak from Executive Compensation & Benefits; Antonia Tzinova and Sisi Liu as well as Seth Kerschner and Graham McHenry from Regulatory Transactions; Olivia Greer as Head of U.S. Privacy and Cybersecurity; Dennis Adams, Catherine Kim and Tomide Owolabi from Technology & IP Transactions.