ADES
Advanced Emissions Solutions, Inc. provides emissions control solutions for coal-fired power generation and industrial boiler industries.
 
 
“Initially we were drawn to The Equity Group because the firm had such small-cap expertise and the number of their long-term clients, and we are confident that we made the right decision. The Equity Group was a key advisor during our spin-off, helping us navigate the complicated process and the small-cap marketplace, and has continued to provide support on a variety of matters relating to small public company life.”
Michael D. Durham, Ph.D.
Former President & CEO
Advanced Emissions Solutions, Inc.
NASDAQ: ADES
THE START
  • Commenced services in 2003.
  • Pending spin-off from parent company.
Our Role During 10-Year Relationship
  • Counseled management team during spin-off.
  • Helped secure market makers.
  • Prepared written communications related to spin-off, financial results, and corporate developments.
  • Arranged a regular schedule of personal meetings for management with buy and sell-side investment professionals.
  • Arranged Investor Days at Company locations.
  • Coordinated management participation in investment conferences and quarterly earnings conference calls/webcasts.
  • Developed and maintained targeted email list of over 400 financial professionals that followed corporate developments.
^
RESULTS
  • Listed on the NASDAQ (initially spun-off to the Bulletin Board).
  • Market cap rose to $300 million, compared to under $10 million at spin-off.
  • 50% of shares institutionally held, from zero.
  • Research coverage initiated by Johnson Rice & Company, Wedbush Securities, Canaccord Genuity, Avondale Partners, Pritchard Capital Partners, Sidoti, Lazard Capital Markets, JMP Securities and Robert W. Baird.
  • Arranged and managed active investment conference schedule.
  • Feature story in Business Week; interview on Fox Business News.
  • Affiliate of Goldman Sachs purchased 15.8% equity interest in ADA joint venture.
  • Completed 2.3 million-share secondary offering led by Lazard Capital Markets, co-managed by Robert W. Baird and JMP Securities.
PREVIOUS CASE STUDY
NEXT CASE STUDY
Begin Your IR Journey
CONTACT US