England Securities is pleased to announce that it served as the exclusive placement agent for Micatu, Incorporated ("Micatu") in its $15 million growth financing transactions. Micatu, an optical sensing solution provider, has received $10 million in preferred equity from Wave Equity Partners and $5 million in debt financing from Silicon Valley Bank (“SVB”).
The financing builds on the company’s growing momentum to change the way the world senses with light. Their next-generation solution for the measurement of voltage, current, vibration, and temperature is making waves in the industry. Micatu's GridView utility platform solution enables lower-cost and safer deployments, maximizes integration of renewable energy, and increases data awareness for grid resilience.
"We are extremely pleased to partner with the team at England & Company for these transactions and to execute our capital plans and strategic opportunities going forward," said Michael Oshetski, CEO and President of Micatu. "They have terrific depth of expertise and keen insights into the power infrastructure and industrial technology markets we look to disrupt and the processes we look to optimize. They are particularly attuned to where the industry is headed with the energy transition, DERs, and the grid-edge sensors and AI driven automation technologies necessary to modernize the grid for a sustainable future."
“England & Company understands what we’re trying to accomplish and communicates with the investment community and strategic partners very effectively," Michael Sexton, COO and Executive Vice President of Micatu, said. "Their team matches industry expertise with deep transaction experience in raising and structuring equity and all varieties of credit, which led us to long-term partnerships with Wave Equity and SVB. They did an exceptional job and played an instrumental role in optimizing the terms of the transactions and the outcomes for us. We received partner-level attention throughout and great support from their entire team.”
Wave Equity Partners is a Boston-based private equity firm that accelerates market validated companies solving some of the world's greatest challenges in essential markets for clean energy, water, waste, food, and clean air. Wave specializes in breakthrough innovations in hard tech and manufacturing.
For more than 35 years, Silicon Valley Bank (SVB) has helped innovative companies and their investors move bold ideas forward, fast. SVB provides targeted financial services and expertise through its offices in innovation centers around the world. With commercial, international and private banking services, SVB helps address the unique needs of innovators.