Private equity investment firm HIG Capital (HIG) has closed the sale of Enerwise Global Technologies (CPower) to LS Power.
HIG 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. HIG 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, says: “We have enjoyed partnering with HIG Our team has valued the continued support and leadership provided throughout our partnership as we worked to achieve our goals and growth initiatives. HIG’s expertise was invaluable in developing CPower into a market-leading demand response and energy management provider.”
Fraser Preston, Managing Director of HIG Capital, says: “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.”
