CASE STUDY
Leclanché Signs Key Partnership Agreement with Pinnacle Int.
Client: Leclanché Batteries
Requirement: $600m raise
Purpose: Capex and Opex Scale up
Background:
A leading developer and manufacturer of world leading battery solutions to the Marine, Rail, Heavy off-road (Mobility) and BESS stationary markets, Leclanché are unique in developing their own proprietary cell technology.
They were poised for serious growth, if they could secure the scale-up funding required to satisfy demand from their extremely healthy order book.
We were invited to support this funding exercise in December 2023, by which point Leclanché had already been engaged with a leading investment bank for nine months with no clear line of sight of any funding options.
Our brief was simple: identify and secure these funds. Working unilaterally to their investment banking partner and on a non-exclusive basis, the team at BGI got to work.
Our first three key tasks were:
01
Research and create a highly meticulous funder target list from both the private equity and industrial markets.
02
Review and improve the teaser and Pre-NDA deck material to ensure the Leclanché proposition and message was clear, concise and compelling. Most importantly, it engendered a strong level of interest from our researched target list.
03
Approach key contacts from our immediate network through conversations that were followed up with our reworked Pre-NDA material.
We combined these key components to build an exacting and robust campaign to secure these funds.
As a result, we gained considerable momentum and interest from which we were able to select the most suitable funders to present to our contacts at Leclanché. We arranged a total of 7 pitches within 6 weeks.
By February of 2024 we had three funds highly engaged, one of which offered a letter of interest in this same month. By April of 2024 we had two separate term sheets under consideration that would result in further negotiation and subsequently a binding term sheet in place by July 8, 2024.
This has since been consolidated to a binding framework agreement and is now subject to due diligence which is expected to be completed successfully by October 2024. This is in contrast to the investment bank Leclanché engaged who were unable to deliver any offers.
Recent Testimonials
The team at BGI have proven themselves to be a formidable force that sets itself ahead of the pack by completing that most important task, finding the money. Having worked with the team for the past 2 years on various projects, I am still amazed by their attention to detail and professionalism. Most importantly, their passion to get the job done.
Paul Charles American Battery Factory
We approached Bryn Group Investments to support our fundraising activities, as we were aware of their deep networks in this investment space. As we were already working with a lead investment bank, we very much saw BGI as a plan B. The reality was they became very much our plan A. Within 6 weeks they had generated 7 pitches with suitable funders, which culminated in 3 LOI's with 2 separate term sheets and ultimately a confirmed binding offer for a $600 million transaction. I have nothing but respect for Bryn Group Investments, the way they operate, their attention to detail and desire to get the job done.
Pierre Blanc Leclanche
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