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Broker/Consultant Receives $250 Million Investment From Oaktree, Institutional Investors
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Priority Power Management, LLC (Priority Power) announced today a $250 million investment from funds managed by Oaktree Capital Management, L.P. (Oaktree) and other select institutional investors.
Ara Partners, a Houston-based private equity firm that acquired Priority Power in 2019, will continue to hold an ownership stake.
Priority Power serves over 7,000 commercial and industrial customers in North America totaling over $2.7 billion of energy procurement under management. In addition to energy procurement and related services, Priority Power designs, constructs, owns and operates private networks of medium and high voltage transmission lines, substations, and renewable generation and battery storage assets.
Brandon Schwertner, CEO of Priority Power, said, "The energy transition is underway and will take decades to unfold. The market for energy solutions is complicated and fragmented. We help our customers by delivering integrated, smart solutions that unlock value across the entire energy value chain, arriving at the most economic, reliable, and sustainable energy solution. Oaktree has played a significant role in the electricity markets for the past two decades. As a result of this investment, we will be able to stay ahead of the ramping demand for decarbonization, and as a result our clients will benefit. We are honored to add Oaktree as a partner, alongside our existing financial sponsor, Ara Partners."
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September 1, 2021
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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