Capstone Advises WebGen Systems on its Financing
Boston, MA – Capstone Partners LLC, a national investment banking advisory firm, through its wholly-owned subsidiary Capstone Capital Markets LLC, announced today that it has successfully advised WebGen Systems, Inc., a leading provider of advanced software for enterprise energy management on its recent financing. Capstone Partners served as the exclusive financial advisor to WebGen on this transaction.
The Company was recapitalized through the issuance of $9.5 million of new Series B Senior Participating Convertible Preferred Stock. New and existing investors participated in the capital raise.
Tim Harned, Capstone Managing Director, stated, “This transaction provides the necessary capital to ensure WebGen maintains its competitive lead in delivering the industry’s most comprehensive enterprise energy management platform. Given the world’s strained energy resources it is a great pleasure to work with a company that so clearly delivers technology that provides real-time energy savings. It has been a true privilege to work with such a fine team on such a key strategic endeavor.”
WebGen Systems, Inc., founded in 2000, provides advanced software for energy conservation and control in commercial buildings. WebGen combines the highest level of industry expertise with a reliable suite of open-protocol software tools called IUE®, which provides real-time command of energy use to generate savings. WebGen’s system connects all aspects of building energy management to automatically measure, monitor, and control energy consumption building-by-building, system-by-system, meter-by-meter, and device-by-device.