BridgeWorks generally limits the number of clients on its roster at any given time in order to ensure a consistent level of quality service and to provide day-to-day management consultation or representation when needed. Over the years, our work has resulted in company and product launches, spin-offs, mergers, acquisitions and buy-outs, with over $1 Billion in capital raised along the way. To give you an insight into whether you’re a candidate for our services, here are some assignments we’ve handled:
Saving the Planet
In August 2010, BridgeWorks co-founded C-Water Technologies to research and develop an invention by CH2M HILL to make cooling water intake systems less harmful to aquatic life. Initial funding was raised to perform computational fluid dynamics work that demonstrated the technology’s efficacy. The company is now working with CH2M HILL, SAIC and Alden Research Laboratory Inc. to advance this innovative fish protection technology (www.c-watertechnologies.com).
In May 2006, BridgeWorks acted as a founder of PrimeStar Solar, a high-efficiency solar panel manufacturer in Colorado, raising $7 million in private financing and negotiating more than $350 million in staged financing from the Renewables Division of GE Energy. The company has constructed its first manufacturing line in Arvada, CO, and Mark Waller currently serves as Board Chair (www.primestarsolar.com).
BridgeWorks was asked to assist a long-time client spin off its space-based photovoltaic enterprise in October 2005. As a co-founder, Mark Waller arranged a $1.6 million private placement, and the Company went public as Ascent Solar Technology in 2006 in an $18 million initial public offering negotiated by BridgeWorks. Ascent is now positioned to be a world leader in building integrated pv material and has raised more than $160 million since inception (www.ascentsolar.com and on NASDAQ: ASTI).
Also in the alternative energy arena, BridgeWorks spent two months assembling a $7 million private placement to fund commercialization efforts for a thin-film solar cell manufacturer in southern California that is developing technologies to produce low cost, high efficiency copper, indium, gallium, diselenide (CIGS) solar cells.
Improving Operational Efficiencies
BridgeWorks was retained in March 2004 to assist an Oregon-based developer of an online, web-based system that brokers healthcare staffing between hospitals and temporary staffing agencies. BW assembled a group of investors with sector experience, and the company closed a $1million round in late May 2004. A second, $2.5 million round closed in Q4 2005.(www.shiftwise.net)
BridgeWorks sourced $2 million in private capital for a company that developed dynamic pricing and sales management software enabling merchants to derive higher sales and increased margins on such online marketplaces as Amazon and eBay. Monsoon Retail completed a sale of itself to a San Francisco based venture fund and returned approximately 4X to investors after three years (www.monsoonretail.com).
High Tech Manufacturing
BridgeWorks was asked to source capital for the acquisition by a former client of a $13 million medical and high tech instrumentation company. The capital was secured and the deal closed within 30 days of the client’s initial contact with BW.
BridgeWorks sought funding on behalf of a specialized laser manufacturer with annualized revenues of approximately $35 million. Within 30 days, BridgeWorks secured an offer from a major regional underwriter for a $30 million IPO for 85% of the company.
BridgeWorks was retained by a Portland based company to secure public or private capital for expanding its medical and high tech cabling company. Within two months, BridgeWorks secured a commitment for a $12 million IPO, which was completed in late November 2001.
In 2001, BridgeWorks was approached by a U.S. wind turbine manufacturer seeking new capital for product development and market expansion. Within 30 days, BW secured a proposal from a leading U.S. underwriter for a $10 million IPO.
BridgeWorks negotiated the buy-out of the majority shareholder and capital partner of a leading edge scientific instrumentation company and, directly or indirectly, raised approximately $10 million for this client. Most recent FDA clearances include the first laser device for pain-free, at-home sampling by diabetics. A BridgeWorks’ principal served on the Board of this company for five years representing the company in capital markets.
Re-Structuring
BridgeWorks was retained to assist this Portland-based, management consulting group to acquire a three-state, 12-store mega dealership for Case power equipment, Link Belt equipment and Sumitomo equipment. BridgeWorks helped structure the transaction and located a buyer for the dealership – a business with annualized revenues of approximately $100 million.
BridgeWorks was retained to secure recapitalization or acquisition offers for the largest privately owned hospitality chain in the Western United States. Several buyout proposals and one refinancing term sheet were secured for this client.
BridgeWorks arranged the initial funding to purchase out of bankruptcy the third largest US zinc mine.The company has grown through acquisition and a reverse merger to become a significant North American miner of base metals (New York Stock Exchange: HBM).
