HomeSeptember 18, 2020
Private Equity Firm Acquires Retail Energy Broker
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424 Capital announced today that it has launched its first new fund in the 424 series, 424 Capital Fund I, which simultaneously completed the acquisition of Hospital Energy, an energy management firm which develops and manages energy procurement strategies for U.S. hospital systems.
Together with Eagle Private Capital, 424 Capital purchased a majority share from Founder and CEO Mark Mininberg, who will remain CEO of Hospital Energy.
Hospital Energy manages energy use and spend at over 200 hospitals, offering services related to energy efficiency, resiliency, and sustainability. The company is described as, "the only energy procurement organization focused exclusively on the hospital market in all deregulated US markets."
Hospital Energy also organizes and manages onsite renewable power generation
424 Capital makes control equity investments in lower middle market companies within B2B Tech-Enabled Services.
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