RESEARCH SECTOR
Infrastructure tech
Robust digital infrastructure is the backbone of the modern economy. We’re interested in technologies that strengthen connectivity, data storage capabilities and security to ensure businesses can operate efficiently and scale effectively.
Discover the latest trends and technologies shaping infrastructure tech
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Key themes and focus areas
We focus on technologies that enhance the capacity and quality of existing infrastructure with little or no net capital investment. These sophisticated physical and information-based technologies enable companies to provide goods and services vital to enhancing living conditions while minimizing negative environmental and economic effects.
- Value-added recycling
- Distributed production and delivery systems
- Improved productivity through advanced data collection and decision systems
It’s a simple supply-and-demand equation. As populations continue to grow and resources become depleted, technological productivity is the only way to maintain or improve global conditions. By advancing technology and increasing efficiency, we can optimize resource use, develop sustainable alternatives, and meet the needs of growing populations without compromising quality of life for future generations.
Environmental investing was the initial foundation for First Analysis, and our focus has evolved over several decades with the shift toward green, clean and sustainable technologies. As such, we have unmatched institutional knowledge of what it takes to succeed in this arena.
Our sector leaders
Howard Smith
Managing Director, Office of the President
Tracy Marshbanks
Managing DirectorFeatured insights and research reports
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Venture capital activities
Current Ways is a power electronics technology leader focused on electric vehicles and residential systems. The company’s technology platform combines innovations in power electronics design with a proprietary digital control system. This combination enables its customers to build end products with functionality and flexibility that is key to achieving rapid and widespread electrification of transportation and residential markets.
ObservIQ’s mission is to build the best open source observability solutions for DevOps and ITOps. Built by engineers for engineers, observIQ has a specific focus on developing the latest next-generation agent technologies as part of its modern observability platform. ObservIQ delivers scalable observability and intelligent control.
Relevant advisory transactions
Exclusive financial advisor
Kazmira minority equity investment by Perrigo
First Analysis acted as the exclusive financial advisor to Kazmira for its $50 million strategic investment by Perrigo Company (PRGO). In collaboration with Perrigo, the investment will be applied to scale up Kazmira’s facilities and laboratories, proactively engage with regulatory authorities, further develop Kazmira’s product portfolio, extend Kazmira’s reach into retail mass markets, and enhance Kazmira’s strong management and technical teams. First Analysis focuses its advisory services on high-growth, entrepreneur-driven companies like Kazmira. The First Analysis team was actively engaged throughout the transaction process, including preparation, positioning, investor coordination and contact, due diligence, and negotiation.
About Kazmira:
Headquartered in Watkins, Colorado, Kazmira is an industrial scale producer of high purity, THC-free, broad-spectrum CBD oil and THC-free CBD isolate from American-grown ground industrial hemp. The company produces highly concentrated THC-free oils using a proprietary technology platform that enables the supply of products that are free of THC, pesticides, solvent residues and heavy metals. Kazmira has demonstrated an ability to design innovative products and processes that are tailored to meet consumer self-care demands while being well-positioned for success in an evolving regulatory environment. The proprietary technology platform used by Kazmira allows it to separately produce other minor non-psychoactive Cannabinoids present in industrial hemp and in that regard, Kazmira has recently implemented a production line capable of producing CBC in commercial quantities.
About Perrigo:
Perrigo Company (PRGO) is dedicated to making lives better by bringing quality, affordable self-care products that consumers trust everywhere they are sold. The company is a leading provider of over-the-counter health and wellness solutions that enhance individual well-being by empowering consumers to proactively prevent or treat conditions that can be self-managed.
Co-manager
Casella Waste Systems Follow-on
$105,000,000
About Casella Waste Systems:
Casella was founded in 1975 as a single truck operation in Rutland, Vermont. In 1977, Casella opened the first recycling facility in Vermont. The company has remained under the same management for over 40 years. Over time Casella’s footprint has grown to include six states. Casella’s mission is to create value for its customers, communities, and the company by Giving Resources New Life®. Casella provides resource management expertise and services to residential, commercial, municipal and industrial customers in the areas of solid waste resource collection, recycling, organics, energy recovery and disposal.
Co-manager
Charah Solutions IPO
$88,200,000
About Charah Solutions:
With 30 years of experience, Charah Solutions Inc. is a leading provider of environmental and maintenance services to the power generation industry, with operations in fossil fuel and nuclear power generation sites across the country. Based in Louisville, Kentucky, Charah Solutions assists utilities with all aspects of managing and recycling ash byproducts generated from the combustion of coal in the production of electricity as well as routine power plant maintenance and outage services for the fossil fuel and nuclear power generation industry. The company also designs and implements solutions for ash pond management and closure, landfill construction, fly ash sales, and structural fill projects. Charah Solutions is the partner of choice for solving customers’ most complex environmental challenges, and as an industry leader in quality, safety, and compliance, the xompany is committed to reducing greenhouse gas emissions for a cleaner energy future.
Co-manager
Advanced Disposal follow-on
$383,200,000
About Advanced Disposal:
Advanced Disposal, now part of Waste Management (WM), is the fourth largest non-hazardous solid waste management company in the United States, as measured by revenue. The company provides non-hazardous solid waste collection, transfer, recycling and disposal services for residential, commercial and industrial customers across the Southeast, Midwest and Eastern regions of the United States, as well as in the Commonwealth of the Bahamas.
Investment banking and corporate finance services are provided through First Analysis Securities Corporation (“FASC” or “First Analysis Securities”), a subsidiary of First Analysis Corp.