H.I.G. Capital News
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H.I.G. Capital Completes Sale of CPower
MIAMI – December 21, 2018 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $30 billion of equity capital under management, is pleased to announce the closing of the sale of Enerwise Global Technologies, Inc. d/b/a CPower (“CPower” or the “Company”) to LS Power.
H.I.G. formed CPower as an independent company in October 2014 through the spin-off of CPower from Comverge, a leading provider of energy management products and services to utilities, and simultaneous merger with the demand response business of Constellation. H.I.G. originally invested in Comverge in May 2012 and completed the sale of Comverge to Itron in June 2017. Over the past several years and under the leadership of management, CPower has grown quickly, increased its market-leading scale, expanded its breadth of service offerings and enhanced its technological capabilities.
John Horton, CPower’s President and CEO, said, “We have enjoyed partnering with H.I.G. Our team has valued the continued support and leadership provided throughout our partnership as we worked to achieve our goals and growth initiatives. H.I.G.’s expertise was invaluable in developing CPower into a market-leading demand response and energy management provider.”
Fraser Preston, Managing Director of H.I.G. Capital, commented, “Over the past four years, we partnered with John and the CPower management team to establish a strong, industry-leading platform with exceptional customer service. We are proud of their success and believe that CPower is well-positioned to continue on its growth trajectory. We look forward to the Company’s continued success.”
CPower is a leading demand-side energy management solutions provider that helps commercial, industrial and government organizations in the U.S. energy markets save on energy costs, earn revenue through energy curtailment, enhance their sustainability efforts, and contribute to a balanced, reliable grid. CPower creates customized energy strategies designed to help its customers achieve success through demand response and demand management programs including automated curtailment, storage, and energy efficiency monetization. For more information, please visit www.CPowerEnergyManagement.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $30 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused / value-added approach:
- H.I.G.'s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.