Future Energy Solutions Lighting Group has closed a financial partnership with Orion Energy Partners.
The USD75 million credit facility from Orion Energy will supplement FES’s existing financial backing from UK-based Matterhorn Capital and Stonegate Bank, providing additional capital to support the company’s expansion programme.
FES delivers Lighting as a Service (LaaS) through energy efficient infrastructure installations across the US.
FES is a rapidly growing provider of energy efficient lighting infrastructure. The company’s Gold Initiative Program offers LaaS at zero capital cost to the customer.
Orion Energy provides creative capital solutions to middle market energy infrastructure businesses across North America and select international markets.
“FES is delighted to partner with Orion Energy, which has provided a credit facility that will allow us to significantly expand our presence in markets throughout the US,” says FES chief executive officer Daniel Gold. “With this partnership in place, we are optimally positioned to better service our existing customers and accelerate growth in core target markets.”
“Orion Energy is thrilled to announce a new partnership with Future Energy Solutions. FES has demonstrated its leadership position in the energy efficient lighting infrastructure sector through state of the art product designs and thoughtful structures that enable its customers to save millions of dollars in energy and maintenance expenses. This transaction will allow FES to build on its recent successes by providing capital to continue to grow and evolve the business,” says Chris Leary, senior vice president of Orion Energy.
“This investment is a great example of Orion Energy’s ability to combine energy industry knowledge and creative capital solutions for our partners to help support their business goals,” adds Gerrit Nicholas, managing partner of Orion Energy. “We are also pleased to diversify our portfolio through this investment into the fast-growing sub-sector of energy efficient infrastructure using a LaaS model.”
Mayer Brown acted as legal adviser and PricewaterhouseCoopers Corporate Finance and BDO acted as financial advisers to FES. Latham & Watkins acted as legal adviser to Orion Energy.
