On January 7, 2022, the firm’s client VDA Group S.p.A., based in Pordenone, Italy, completed the acquisition of a 53% stake in Telkonet, Inc., a publicly traded company headquartered in Milwaukee, Wisconsin. Both companies primarily operate in the hospitality industry, providing intelligent automation based climate control solutions, with the transaction expected to create synergies in both Telkonet’s United States business and VDA’s European and Asian business.

The stock purchase transaction, and a concurrent acquisition financing, was handled by M&S partners Allan Grauberd and Michelle Cox.