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LS Power to Acquire Energy Management Solutions Firm CPower Energy Management
Wednesday 05 December 2018

5 December 2018 - US-based power and energy infrastructure owner LS Power has signed a definitive agreement to acquire demand-side energy management solutions provider Enerwise Global Technologies, Inc. (trade name "CPower") from H.I.G. Capital for a private fund it manages, the company said.

CPower is in Demand Response and Distributed Energy Resources in North America and will continue to operate as a stand-alone entity under the LS Power umbrella of companies.

The transaction is expected to close in December 2018.

Financial terms were not disclosed.

Founded in 2014, CPower is a demand-side energy management company that helps organizations save on energy costs, earn revenue through energy curtailment, increase grid reliability and achieve sustainability goals.

This acquisition underscores LS Power's ongoing focus on deploying its considerable power market expertise in critical and growing sectors of the market.

As a result of this transaction, CPower will be positioned to more quickly advance its growth strategies while maintaining its industry leadership position and best-in-class customer service, furthering its customers' ability to monetize new energy technologies across all power markets.

Founded in 1990, LS Power is an employee-owned, independent power company with offices in New York, New Jersey, Missouri, California and Texas.

LS Power is a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States.

Since inception, LS Power has developed, constructed, managed or acquired more than 39,000mw of competitive power generation and 560 miles of transmission infrastructure, for which it has raised over USD 39bn in debt and equity financing.

CPower is a demand-side energy management solutions provider that helps commercial, industrial and government organizations in the US energy markets save on energy costs, earn revenue through energy curtailment, enhance their sustainability efforts, and contribute to a balanced, reliable grid.
Details
Date Published: 05/12/2018
Target: Enerwise Global Technologies, Inc. (trade name "CPower")
Country: USA
Sector: Utilities
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor: H.I.G. Capital
Buyer: LS Power
Comment:
Terms of the deal were not disclosed

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