Sidewalk Infrastructure Partners (SIP), a holding company that pioneers more sustainable, resilient, and efficient infrastructure using technology, announced an agreement with Google to combine its platform company, OhmConnect, with assets from Google Nest’s Renew service business to form Renew Home, a new company that will help customers and energy providers unlock energy savings and rewards in a way that supports a clean energy grid. Under the terms of the deal SIP will invest US$100 million into Renew Home, and maintain a majority stake in the new entity. The closing of the transaction is subject to regulatory approvals and other customary closing conditions.
Latham & Watkins LLP represents SIP in the transaction with a corporate deal team led by Chicago partner Bradley Faris and New York partner Michael Benjamin, with associates Edward Brennan, Kristine LaVeau, Tyler Neal, Brian Baloun, Lou Jeffers, Jay Trewn, Matthew Galligan, and Danni Wang. Advice was also provided on intellectual property matters by New York partner Jeffrey Tochner, with associates Pelin Serpin and Ece Gonulal; on tax matters by Houston partners Tim Fenn and Jared Grimley, with associate Arash Lotfi; on benefits and compensation matters by Los Angeles partner Michelle Carpenter, with associates Megan Ampe and Joe Gu*; on antitrust matters by Bay Area partner Joshua Holian and counsel Britton Davis, with associate Hanna Nunez Tse; on data privacy matters by Houston/Austin counsel Robert Brown, with associate Zac Alpert; on energy regulatory matters by Washington, D.C. partners Natasha Gianvecchio and Tyler Brown and Washington, D.C. counsel Anna Biegelsen, with associate Bruce Johnson; on sanctions matters by Washington, D.C. counsel Andrew Galdes, with associates Allison Hugi and Elliot Hecht; on consumer protection matters by Washington, D.C. partner Jennifer Archie, with associate Deborah Hinck; and on anti-corruption matters by Washington, D.C. partner Joseph Bargnesi.
*Admitted to practice in Illinois only.