Green Rebates Expands Reach with Seinergy Acquisition
Deal News | Dec 09, 2024 | EIN
Green Rebates, a Washington state-based company specializing in securing energy rebates for cannabis growers, has completed the acquisition of their competitor, Seinergy. This move is projected to create the largest dedicated energy rebate platform in the industry. While the financial terms of the deal were not disclosed, it is expected to close this month. As a result, Seinergy will function as a wholly owned subsidiary of Green Rebates. The merger combines the two companies' efforts in procuring $135 million in rebates for marijuana growers across the U.S. Green Rebates, led by CEO Dylan Collins, has seen substantial growth, having secured more than $75 million in rebates and completing over 400 projects in 26 states. This acquisition aims to sustain their growth trajectory, expand their market reach, and enhance partnerships with utility providers.
Sectors
- Cannabis Industry
- Energy and Utilities
Geography
- United States – Both Green Rebates and Seinergy operate within the U.S., serving cannabis cultivators across multiple states.
- Washington State – Green Rebates is based in Washington State, indicating a significant regional presence.
Industry
- Cannabis Industry – The companies involved operate within the cannabis sector, focusing on providing energy rebates to cannabis growers across the U.S.
- Energy and Utilities – The article discusses energy rebate programs, highlighting the companies' roles in securing rebates from utility providers for energy usage.
Financials
- $135 million – Combined total of energy rebates procured by Green Rebates and Seinergy for cannabis growers across the U.S.
- $75 million – Amount of power rebates obtained by Green Rebates for cannabis cultivators.
- $43 million – Earlier amount of power rebates obtained this year by Green Rebates before the increase to $75 million.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Green Rebates | Acquirer | Company | A Washington-based company focused on procuring energy rebates for cannabis growers. |
| Seinergy | Target | Company | A competitor of Green Rebates, involved in securing energy rebates for the cannabis industry. |
| Dylan Collins | CEO of Green Rebates | Person | CEO of Green Rebates, overseeing the company's growth and acquisition strategies. |