M&A Deal Summary

Envocore Acquires LRI Energy Solutions

On June 30, 2017, Envocore acquired renewable energy company LRI Energy Solutions from Arborview Capital and DFW Capital Partners

Acquisition Highlights
  • This is Envocore’s 1st transaction in the Renewable Energy sector.
  • This is Envocore’s 1st transaction in the United States.
  • This is Envocore’s 1st transaction in Maryland.

M&A Deal Summary

Date 2017-06-30
Target LRI Energy Solutions
Sector Renewable Energy
Buyer(s) Envocore
Sellers(s) Arborview Capital
DFW Capital Partners
Deal Type Add-on Acquisition

Target

LRI Energy Solutions

Gambrills, Maryland, United States
LRI Energy Solutions LLC is a provider of lighting and water building efficiency services to government, institutional, and commercial customers. LRI Energy Solutions was founded in 1993 and is based in Gambrills, Maryland.

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Buyer(S) 1

Buyer

Envocore

Gambrills, Maryland, United States

Category Company
Founded 1993
Sector Electrical Equipment
DESCRIPTION

Envocore is a provider of lighting and water efficiency retrofit services for government, institutional and commercial buildings, generally as part of large building efficiency projects managed by energy services companies (ESCOs). Envocore was founded in 1993 and is based in Gambrills, Maryland.


DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2017) 1 of 1

Seller(S) 2

SELLER

Arborview Capital

Chevy Chase, Maryland, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2008
Size Small
Type Sector Focused
DESCRIPTION

Arborview Capital is a specialist investor in established, rapidly growing energy efficiency and clean energy businesses in North America. Arborview focuses on companies that provide improve energy efficiency (LED lighting, building controls, power plant efficiency), resource efficiency (emissions control, environmental services, water treatment), or renewable energy. Target companies are typically at or near profitability with $5 to $30 million in revenue. Arborview was formed in 2008 and is based in Chevy Chase, Maryland.


DEAL STATS #
Overall 1 of 3
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Maryland) 1 of 1
Country (United States) 1 of 3
Year (2017) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 Envocore

Gambrills, Maryland, United States

Envocore is a provider of lighting and water efficiency retrofit services for government, institutional and commercial buildings, generally as part of large building efficiency projects managed by energy services companies (ESCOs). Envocore was founded in 1993 and is based in Gambrills, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-05 Drexel Metals

Louisville, Kentucky, United States

Drexel Metals Inc. is a provider of standing seam metal roofing systems to roofing contractors and distributors. Drexel Metals is based in Louisville, Kentucky.

Sell -
SELLER

DFW Capital Partners

New York, New Jersey, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1983
PE ASSETS 600M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

DFW Capital Partners is a private equity firm that invests in high-growth middle-market service companies generating revenues up to $200 million. Specific service areas of interest include business services, industrial services, and healthcare services. Prospective transactions include growth capital financing, acquisition financing, management buyouts, and recapitalization. DFW will not invest in start-ups, real estate, or pure R&D companies. DFW Capital Partners was formed in 1983 and is based in Teaneck, New Jersey.


DEAL STATS #
Overall 17 of 26
Sector (Renewable Energy) 1 of 1
Type (Add-on Acquisition) 9 of 13
State (Maryland) 1 of 1
Country (United States) 17 of 26
Year (2017) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-30 Envocore

Gambrills, Maryland, United States

Envocore is a provider of lighting and water efficiency retrofit services for government, institutional and commercial buildings, generally as part of large building efficiency projects managed by energy services companies (ESCOs). Envocore was founded in 1993 and is based in Gambrills, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-08 Covenant Physician Partners

Nashville, Tennessee, United States

Covenant Physician Partners is an operator of ambulatory surgery centers, physician practices, and ancillary services with a particular focus on gastroenterology and ophthalmology end markets. Covenant Physician Partners was founded in 2008 and is based in Nashville, Tennessee.

Sell -