Private Equity Firm Announces "Significant Investment" In Retail Energy Broker, Energy Management Consultant
February 11, 2019 Email This Story Copyright 2010-19 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Ara Partners Group, an industrial private equity firm, today announced a "significant investment" in Priority Power Management, LLC ("Priority Power"), an energy management services and consulting firm headquartered in Midland, Texas.
Financial terms of the transaction were not disclosed.
Priority Power, which was founded in 2001, serves over 1,300 clients and offers consulting and related services for energy supply & risk management, demand response, and infrastructure solutions.
Priority Power manages over 11 TWh of energy annually
"The Priority Power team is excited to welcome Ara Partners as a significant new investor," said John Bick, Managing Principal at Priority Power. "Ara Partners is committed to our company's strategic growth and our focus on developing and deploying strategies of integrating an optimized mix of power supply, risk management, demand response, distributed generation, and smart grid technologies to our large and expanding customer base."
Padraig "Pat" Ennis, Founding Principal of Priority Power, said, "We are confident that this investment from Ara Partners will take Priority Power into the next stage of its growth, allowing us to extend our reach into new markets while continuing to provide world-class service to our existing customers."
Troy Thacker, a Managing Partner at Ara Partners, commented, "We are excited to help John and Pat continue to build Priority Power through both organic and acquisition-led strategies."
The Board of Directors of Priority Power now includes Mr. Bick and Mr. Ennis, members of Ara, and Brandon Schwertner, Founder and Managing Partner of Teleios Commodities.