Iluminar Energy LLC, a privately held retail electric provider in ERCOT, required a quick sale from the market due to debts incurred resulting from Winter Storm Uri. Chiron Finanical was engaged as both Investment Banker and Financial Advisor to Iluminar and worked with Iluminar and its major creditors to provide the quickest and best solution for all parties via an expedited sale of the business. Chiron prepared the business for sale and contacted hundreds of potential buyers (small and large REPs, private equity, energy trading houses) and key buyers were assessed quickly and were walked through details of Iluminar’s business by the Chiron team  

The expedited sales process led to several expressions of interest from key large retail electric providers. Created auction dynamic in expedited time frame and final accepted bid was 3x larger than initial indications. The eventual buyer was chosen based on their overall value and structure of the deal and the sale was completed outside of bankruptcy process and provided additional proceeds for creditorsa. The entire process was completed in less than three weeks, from engagement to signing & closing. Chiron used its deep bench of power and ERCOT & PUCT expertise to provide the best outcome for Iluminar while maximizing value.