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M&A Deal Summary

H.I.G. Private Equity Acquires CPower Energy Management

On November 24, 2014, private equity firm H.I.G. Private Equity acquired business services company CPower Energy Management from Comverge and Constellation Energy Group

Acquisition Highlights
  • This is H.I.G. Private Equity’s 20th transaction in the Business Services sector.
  • This is H.I.G. Private Equity’s 113th transaction in the United States.
  • This is H.I.G. Private Equity’s 1st transaction in Maryland.
Investment Fate
  • CPower Energy Management was sold to a strategic buyer in 2018.

M&A Deal Summary
Date 2014-11-24
Target CPower Energy Management
Sector Business Services
Buyer(s) H.I.G. Private Equity
Sellers(s) Comverge
Constellation Energy Group
Deal Type Divestiture

Target

CPower Energy Management

Baltimore, Maryland, United States
CPower Energy Management is one of the largest demand response and energy management companies in North America. CPower has over 25 years of experience helping business customers implement customized demand-side management programs with core offerings that provide businesses with the ability to manage peak electricity demand, monetize energy assets, enhance grid reliability and meet their sustainability goals. CPower provides services nationwide across the U.S. to a large, blue-chip customer base of over 1,700 commercial & industrial customers.

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Buyer(S) 1

Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 65.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital. The Firm focuses on management buyouts, growth equity investments, and recapitalizations of mid-sized to large companies valued between $50 million and $1 billion. HIG will also consider industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 is based in Miami, Florida.

DEAL STATS #
Overall 158 of 383
Sector: Business Services M&A 20 of 44
Type: Divestiture M&A Deals 19 of 48
State: Maryland M&A 1 of 6
Country: United States M&A 113 of 249
Year: 2014 M&A 12 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-23 International School of Europe

Milan, Italy

The International School of Europe Group is a group of schools in Italy providing an outstanding education to over 1,800 local and expatriate students between the ages of 3 and 18 years old in Milan, Modena, Monza and Siena.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-15 Binder & Binder

Hauppauge, New York, United States

Binder & Binder is a social security disability advocacy firm. The Company assists thousands of American citizens each year who have become disabled navigate the complex process of qualifying for Social Security Disability Insurance. Binder & Binder has approximately 1,000 employees across 22 offices in the United States.

Sell -

Seller(S) 2

SELLER

Comverge

Norcross, Georgia, United States
Category Company
Founded 1974
Sector Utilities
Employees511
DESCRIPTION

Comverge, Inc. is a provider of an integrated set of demand response, energy efficiency and customer engagement solutions that enable electric utilities to ensure grid reliability, lower energy costs, meet regulatory demands and enhance the customer experience. Comverge was founded in 1974 and is based in Norcross, Georgia.

DEAL STATS #
Overall 1 of 1
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Maryland M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-28 Enerwise Global

Kennett Square, Pennsylvania, United States

Enerwise Global is a provider of managed energy services to commercial and industrial customers.

Buy $76M
SELLER

Constellation Energy Group

Baltimore, Maryland, United States
Category Company
Sector Energy Services and Equipment
DESCRIPTION

Constellation Energy Group, Inc. is an energy company, develops, owns, operates, and maintains fossil and renewable generating facilities in the United States and Canada.

DEAL STATS #
Overall 4 of 4
Sector: Business Services M&A 1 of 1
Type: Divestiture M&A Deals 4 of 4
State: Maryland M&A 2 of 2
Country: United States M&A 4 of 4
Year: 2014 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-01 Integrys Energy Services

De Pere, Wisconsin, United States

Integrys Energy Services, provides individualized energy supply solutions to retail, residential, commercial, and industrial customers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-27 ConEdison Solutions - Retail Electricity and Natural Gas Business

Valhalla, New York, United States

ConEdison Solutions - Retail Electricity and Natural Gas Business serving more than 560,000 commercial, industrial, public sector and residential customers across 12 Northeastern, mid-Atlantic, and Midwestern states, Texas, and the District of Columbia.

Buy -
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