Investment funds managed by Morgan Stanley Capital Partners (MSCP), the middle-market focused private equity team at Morgan Stanley Investment Management, have acquired Resource Innovations (RI), a tech-enabled services company focused on energy efficiency and sustainability.
Under the terms of the agreement, MSCP acquired a controlling interest in the Company from BV Investment Partners and certain other shareholders. Founder Lauren Casentini will continue as the Chief Executive Officer of RI and remain a significant equity holder in the Company following the completion of the transaction.
Headquartered in the San Francisco Bay Area, RI provides advisory services, programme management services and software to utility, government and corporate clients in the areas of energy efficiency and decarbonisation with the goal of lowering energy costs, reducing waste, cutting greenhouse gas emissions and improving grid resiliency.
The Company is a recognised leader in working with utilities to develop and implement both traditional energy efficiency programs, including lighting, weatherisation and controls, as well as emerging growth areas such as electric vehicle charging, distributed solar and demand response.
MSCP’s acquisition of Resource Innovations represents its third investment in industrials and outsourced services, following the acquisition of Apex in 2023 and Alliance Technical Group in 2021.
Jones Day served as legal counsel to MSCP and Harris Williams served as financial advisor. Global Counsel served as MSCP’s regulatory and policy advisor. Latham & Watkins served as legal counsel to Resource Innovations and BV Investment Partners, and Jefferies LLC served as financial advisor.
