AEI to sell engineering firm to Oaktree

AE Industrial Partners is to sell Enercon Services, a multi-disciplinary engineering and environmental services firm, to funds managed by Oaktree Capital Management. 

AE Industrial Partners (AEI) is to sell Enercon Services, a multi-disciplinary engineering and environmental services firm, to funds managed by Oaktree Capital Management (Oaktree). 

AEI, which specialises in investments in the aerospace, defence & government services, space, power & utility services, and specialty industrial markets, is to retain a minority interest in ENERCON. 

Terms of the transaction have not been disclosed.

Founded in 1983, and acquired by AEI in February 2021, ENERCON provides engineering and environmental services to customers in the power generation, power delivery, and related markets, including nuclear, renewable and conventional power generation, transmission and distribution, distributed generation, battery storage, and EV infrastructure. 

Harris Williams served as financial advisor and Kirkland & Ellis LLP served as legal advisor to AEI on the transaction.