Hilltop Opportunity Partners Announces Agreement to Sell Its Interest in Moser Energy Systems
Hilltop Holdings (NYSE: HTH) announced that its merchant bank subsidiary, Hilltop Opportunity Partners, will sell its portfolio company Moser Energy Systems through Moser Holdings, to Atlas Energy Solutions. The transaction is valued at approximately $220 million, comprising $180 million in cash and roughly 1.7 million Atlas common shares (valued at $41 million as of January 24, 2025).
Hilltop Opportunity Partners holds a 30% stake in Moser Holdings, Atlas has the option to pay the entire consideration in cash instead of issuing shares. If shares are issued, Atlas retains the right to redeem them for cash after closing. The transaction, approved by both companies' boards, is expected to close in Q1 2025, subject to customary conditions.
Moser Energy Systems is a leading distributed power solutions provider. The acquisition aims to diversify Atlas's presence in high-growth end markets while strengthening its position in North American energy solutions.
Hilltop Holdings (NYSE: HTH) ha annunciato che la sua controllata bancaria, Hilltop Opportunity Partners, venderà la sua azienda in portafoglio, Moser Energy Systems, tramite Moser Holdings, ad Atlas Energy Solutions. La transazione è valutata circa 220 milioni di dollari, di cui 180 milioni in contante e circa 1,7 milioni di azioni ordinarie Atlas (valutate 41 milioni di dollari al 24 gennaio 2025).
Hilltop Opportunity Partners detiene una partecipazione del 30% in Moser Holdings, Atlas ha l'opzione di pagare l'intero corrispettivo in contante invece di emettere azioni. Se vengono emesse azioni, Atlas mantiene il diritto di riscuoterle in contante dopo la conclusione dell'affare. La transazione, approvata dai consigli di amministrazione di entrambe le società, dovrebbe concludersi nel primo trimestre del 2025, soggetta a condizioni consuete.
Moser Energy Systems è un fornitore leader di soluzioni di energia distribuita. L'acquisizione mira a diversificare la presenza di Atlas in mercati finali in rapida crescita, rafforzando al contempo la sua posizione nelle soluzioni energetiche nordamericane.
Hilltop Holdings (NYSE: HTH) anunció que su subsidiaria bancaria, Hilltop Opportunity Partners, venderá su empresa de cartera, Moser Energy Systems, a través de Moser Holdings, a Atlas Energy Solutions. La transacción está valorada en aproximadamente 220 millones de dólares, compuesta por 180 millones en efectivo y alrededor de 1.7 millones de acciones ordinarias de Atlas (valoradas en 41 millones de dólares a partir del 24 de enero de 2025).
Hilltop Opportunity Partners posee una participación del 30% en Moser Holdings; Atlas tiene la opción de pagar toda la contraprestación en efectivo en lugar de emitir acciones. Si se emiten acciones, Atlas tiene el derecho de canjearlas por efectivo después del cierre. La transacción, aprobada por las juntas de ambas empresas, se espera que se cierre en el primer trimestre de 2025, sujeto a condiciones habituales.
Moser Energy Systems es un proveedor líder de soluciones de energía distribuida. La adquisición tiene como objetivo diversificar la presencia de Atlas en mercados finales de alto crecimiento, al mismo tiempo que fortalece su posición en soluciones energéticas norteamericanas.
힐탑 홀딩스 (NYSE: HTH)는 자회사인 힐탑 오퍼튜니티 파트너스가 모서 에너지 시스템(Moser Energy Systems)의 포트폴리오 회사를 모서 홀딩스(Moser Holdings)를 통해 아틀라스 에너지 솔루션즈(Atlas Energy Solutions)에 매각한다고 발표했습니다. 이 거래는 약 2억 2천만 달러로 평가되며, 1억 8천만 달러의 현금과 170만 주의 아틀라스 보통주(2025년 1월 24일 현재 4천 1백만 달러로 평가됨)로 구성됩니다.
힐탑 오퍼튜니티 파트너스는 모서 홀딩스에서 30%의 지분을 보유하고 있으며, 아틀라스는 주식을 발행하는 대신 전체 금액을 현금으로 지급할 수 있는 옵션이 있습니다. 주식이 발행되면, 아틀라스는 거래 종료 후 현금으로 상환받을 권리를 유지합니다. 양사의 이사회가 승인한 이번 거래는 2025년 1분기에 마감될 것으로 예상되며, 일반적인 조건에 따릅니다.
모서 에너지 시스템은 선도적인 분산형 전력 솔루션 제공업체입니다. 이번 인수는 아틀라스의 고성장 최종 시장에서의 존재감을 다양화하고 북미 에너지 솔루션에서의 입지를 강화하려는 목표를 가지고 있습니다.
Hilltop Holdings (NYSE: HTH) a annoncé que sa filiale bancaire, Hilltop Opportunity Partners, vendra sa société en portefeuille, Moser Energy Systems, par l'intermédiaire de Moser Holdings, à Atlas Energy Solutions. La transaction est évaluée à environ 220 millions de dollars, dont 180 millions en espèces et environ 1,7 million d'actions ordinaires d'Atlas (évaluées à 41 millions de dollars au 24 janvier 2025).
Hilltop Opportunity Partners détient une participation de 30% dans Moser Holdings, Atlas a la possibilité de payer l'intégralité de la contrepartie en espèces au lieu d'émettre des actions. Si des actions sont émises, Atlas conserve le droit de les racheter en espèces après la clôture. La transaction, approuvée par les conseils d'administration des deux sociétés, devrait se conclure au premier trimestre 2025, sous réserve de conditions habituelles.
Moser Energy Systems est un fournisseur leader de solutions énergétiques distribuées. L'acquisition vise à diversifier la présence d'Atlas sur des marchés finaux à forte croissance tout en renforçant sa position sur les solutions énergétiques en Amérique du Nord.
Hilltop Holdings (NYSE: HTH) hat bekannt gegeben, dass ihre Tochtergesellschaft Hilltop Opportunity Partners die Portfoliogesellschaft Moser Energy Systems über Moser Holdings an Atlas Energy Solutions verkaufen wird. Die Transaktion wird auf ungefähr 220 Millionen US-Dollar geschätzt, bestehend aus 180 Millionen in bar und rund 1,7 Millionen Atlas-Stammaktien (zum Wert von 41 Millionen US-Dollar am 24. Januar 2025).
Hilltop Opportunity Partners hält eine 30%ige Beteiligung an Moser Holdings, und Atlas hat die Möglichkeit, die gesamte Gegenleistung in bar zu zahlen, anstatt Aktien auszugeben. Wenn Aktien ausgegeben werden, behält Atlas das Recht, diese nach dem Abschluss in bar einzulösen. Die Transaktion, die von den Vorständen beider Unternehmen genehmigt wurde, soll im ersten Quartal 2025 abgeschlossen werden, vorbehaltlich gängiger Bedingungen.
Moser Energy Systems ist ein führender Anbieter von dezentralen Energie-Lösungen. Die Übernahme zielt darauf ab, die Präsenz von Atlas in stark wachsenden Endmärkten zu diversifizieren und gleichzeitig seine Position im nordamerikanischen Energiesektor zu stärken.
- Sale of 30% stake in Moser Holdings for portion of $220 million total deal value
- Transaction includes $180 million cash component
- Strategic exit from investment with significant value realization
- Final consideration mix uncertain due to Atlas's cash-in-lieu option
- Atlas retains right to redeem issued shares for cash post-closing
Insights
This strategic divestiture represents a significant monetization event for Hilltop Holdings, with its merchant banking arm set to receive its proportional share (
The transaction demonstrates Hilltop Opportunity Partners' successful execution of its merchant banking strategy - acquiring stakes in promising companies, supporting their growth and executing profitable exits. The deal's structure provides valuable optionality, protecting against stock price volatility while maintaining potential upside exposure to Atlas's future performance.
The expected Q1 2025 closing timeline suggests minimal execution risk, with standard closing conditions and board approvals already secured. For Hilltop Holdings, this exit should strengthen its balance sheet and provide additional capital for future merchant banking investments, potentially accelerating its investment cycle.
The involvement of TPH&Co. (Perella Weinberg Partners' energy practice) as financial advisor suggests a thorough sale process that likely maximized value for Hilltop's stake. This transaction validates Hilltop's merchant banking strategy and demonstrates its ability to create and realize value through strategic investments in middle-market companies.
The aggregate transaction value is approximately
“When we made our original investment in Moser, we saw a company with tremendous potential and a rich legacy of customer service and excellence that Randy Moser and his family had built over the previous 40 years. We have worked hard to be good caretakers of that legacy as we have grown the business, and we view Atlas Energy as the perfect company to further build upon that legacy,” said Mark Plunkett, Managing Partner of Hilltop Opportunity Partners. “Hilltop Opportunity Partners and WestFront have greatly valued the partnership with the Moser team over the last several years and look forward to watching them thrive as they lead Moser into this next chapter with Atlas.”
John Turner, President and Chief Executive Officer of Atlas, commented, “Today marks yet another exciting milestone for Atlas. This acquisition diversifies the Company into attractive high-growth end markets in both production and distributed power while strengthening Atlas’s current market position as a leading provider of energy solutions within the oil and gas sector across
TPH&Co., the energy business of Perella Weinberg Partners, is acting as exclusive financial advisor to Moser Holdings, LLC, and Katten Muchin Rosemann LLP is serving as legal counsel to Moser Holdings, LLC in connection with the transaction.
About Hilltop Opportunity Partners
Hilltop Opportunity Partners (“HOP”) is the merchant banking subsidiary of Hilltop Holdings. HOP utilizes Hilltop Holdings’s excess capital to employ a flexible, lower middle-market investment strategy to address a variety of capital needs on a non-control basis in non-financial service industries. Find more information at Hilltop.com/hop/.
About Hilltop
Hilltop Holdings is a
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements anticipated in such statements. Forward-looking statements speak only as of the date they are made and, except as required by law, we do not assume any duty to update forward-looking statements. Such forward-looking statements include, but are not limited to, statements concerning such things as our plans, objectives, strategies, expectations and intentions and other statements that are not statements of historical fact, and may be identified by words such as “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “might,” “plan,” “probable,” “projects,” “seeks,” “should,” “target,” “view” or “would” or the negative of these words and phrases or similar words or phrases. Factors that could cause our actual results to differ materially from those described in the forward-looking statements include, among others: (i) the failure of the proposed transaction to close on the expected timeline or at all; (ii) the effect of the announcement of the transaction on customer relationships and operating results; and (iii) ability to meet other closing conditions to the sale. For a discussion of additional factors that could cause our actual results to differ materially from those described in the forward-looking statements, please see the risk factors discussed in our most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other reports that are filed with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250127303613/en/
Investor Relations Contact:
Matt Dunn
214-525-4636
mdunn@hilltop.com
Source: Hilltop Holdings Inc.
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