Firm predicts heightened M&A activity in renewable energy and environmental sectors
March 11, 2014 – New York, NY – Reznick Capital Markets Securities (RCMS) has appointed financial structuring veteran David Fennema to its team. Mr. Fennema will lead the firm’s corporate M&A and equity raising activities in the renewable energy and environmental sectors.
With nineteen years experience in investment banking, derivatives trading and transaction structuring, Mr. Fennema’s appointment further builds RCMS’s presence in the marketplace.
Rob Sternthal, RCMS President, said, “Bringing David into the RCMS team gives us a critical mass in terms of our ability to service the growing trend of consolidation in the renewables and environmental markets. We expect to see continued consolidation in the renewable energy developer market in the near future. Developers are looking for ways to achieve greater scale in order to create synergies and ultimately realize their exit strategy – becoming a public company, merging into an IPP or otherwise.”
Mr. Fennema added, “In both the renewable energy and environmental areas, we are expecting to see significant consolidation. Small to mid-sized companies are facing ever greater regulatory and compliance challenges, which will drive them to explore mergers and sales to like-sized and larger companies.”
Mr. Fennema will be based in the Chicago office of CohnReznick LLP, expanding the RCMS footprint to New York, Chicago and Los Angeles. He will be joined there by RCMS Associate Eric Van Arsdale.