Affiliate Of Retail Supplier To Acquire CPower Energy Management
November 29, 2018 Email This Story Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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LS Power, an affiliate of retail supplier LifeEnergy, LLC, announced that it has signed a definitive agreement to acquire Enerwise Global Technologies, Inc. (trade name "CPower") from H.I.G. Capital for a private fund it manages.
CPower provides demand response and distributed energy resources in North America and will continue to operate as a stand-alone entity under the LS Power umbrella of companies.
The transaction is expected to close in December 2018. Financial terms were not disclosed.
"This acquisition underscores LS Power's ongoing focus on deploying its considerable power market expertise in critical and growing sectors of the market," LS Power said
"CPower is a well-established leader in demand response and distributed energy resources across all key power markets, with a high- quality customer base and talented, cohesive and dedicated management team," said David Nanus, Co-Head, Private Equity, LS Power. "This acquisition gives LS Power the opportunity to support the continued growth of CPower's unmatched energy management platform through the advancement of its proprietary technology, development of new products and ongoing delivery of superior customer service."
LS Power said the transaction will allow CPower to more quickly advance its growth strategies