On August 3, 2022, BorgWarner inc. (BWA), an automotive supplier, announced it has acquired Rhombus Energy Solutions, an energy management systems provider, for up to $185 million. The consideration is being funded primarily with cash balances of the acquirer, with approximately $130 million delivered at closing. The remaining amount of up to $55 million could be paid in the form of contingent payments over the next three years.

Wilson Sonsini Goodrich & Rosati advised Rhombus Energy's Series C investors, including Emerald Technology Ventures, Cycle Capital, Greenhouse Capital, and Nabtesco, on matters related to the acquisition. The team was led by Rich Mullen and Audrey Laryea.

For more information, please see the press release.