Project: Michigan Electric Transmission Company Acquisition
Location: Michigan

Overview:

A multi-national investment bank was interested in acquiring Michigan Electric Transmission Company (METC), a power transmission system serving a large part of Michigan. The acquirer tapped E3 Consulting for support with several aspects of the acquisition.

E3 Services Provided:

• Prepared a due diligence report of METC’s current and projected operations by:

• Assessing the physical condition of the assets
• Reviewing operations and maintenance plans, budgets, and capital expenditures
• Reviewing eight key operating agreements, and
• Reviewing the METC financial pro forma and tariff

• Prepared an independent engineer’s report used to support the issuance of senior secured notes by METC and the project’s holding company

Project Spotlights:

• E3 successfully enhanced and expanded on consulting work done by other parties.
  
  
• Project was successfully financed