Spark Power will use proceeds from Bullfrog sale for debt paydown

Chicago, Oct. 28 – Spark Power Group Inc. announced the $35 million sale of its Bullfrog Power Inc. business unit, inclusive of an earnout of up to $3.5 million, payable over a maximum of five years.

Proceeds from the transaction are expected to be used to reduce Spark Power’s debt, according to a press release.

The transaction is expected to close on or about Nov. 15, subject to the purchaser securing financing and other customary closing conditions.

Spark Power is an Oakville, Ont.-based provider of electrical contracting and energy sustainability solutions.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.