Tonkon Torp client Enel Green Power North America (EGPNA) is the North American subsidiary of one of the largest corporations in the world, the Italian electricity company Enel S.p.A., which has more than 80,000 employees and more than 63 million customers in 30 countries.
EGPNA, based in Massachusetts, retained Tonkon Torp in August 2016 to manage its stock acquisition of Demand Energy Networks (DEN) Inc., a startup based in Liberty Lake, Washington. DEN provides energy management system software focusing on battery storage optimization. Tonkon provided assistance in structuring the transaction, due diligence, drafting the acquisition agreement, and negotiating the transaction terms. EGPNA intends to preserve Demand Energy as a separate division so it can continue to innovate.
Tonkon Torp created a transaction team, led by Tom Palmer and Sherrill Corbett, to close the deal. Attorneys involved included David Myers and Tyler Harkness on corporate matters, Kristin Bremer Moore on employment, Chris Erickson and Eric Beach on intellectual property, and Michael Millender on tax.