Private Equity Firm Purchases Shares Of Texas Retail Provider

TA Associates, a global growth private equity firm, announced it has completed an investment in Conservice, provider of utility management software and billing solutions to property owners and managers which also operates as a retail electric provider in Texas, under the trade name Conservice Energy

TA Associates purchased shares from Kayne Anderson Capital Advisors, a Los Angeles-based alternative asset manager, which will remain an investor in Conservice. No new shares were issued and no other owners or management sold shares in conjunction with this transaction. Financial terms of the transaction were not disclosed.

In Texas, Conservice Energy (with a legal name of Iluminar Energy LLC) sells electricity to apartment communities and commercial customers.