Harris Williams Advises Franklin Energy Group on its Sale to Abry Partners
August 15 2019 - 11:39AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces that it advised Franklin
Energy Group (Franklin Energy), a portfolio company of Kohlberg
& Company, LLC (Kohlberg), on its sale to Abry Partners (Abry).
Franklin Energy is a leading provider of demand-side management
(DSM) solutions to utility clients. The transaction was led by Luke
Semple, Drew Spitzer and Ian Thomas of the Harris Williams Energy,
Power & Infrastructure (EPI) Group and Brian Lucas of the
firm’s Business Services Group.
“Franklin Energy is a truly differentiated platform that
provides a comprehensive, vertically-integrated and seamless
experience for its utility clients,” said Luke Semple, a managing
director at Harris Williams. “The company is uniquely positioned to
capitalize on the strong growth and increasing importance of DSM
programs in utility client portfolios.”
“We’re thrilled to have worked with Franklin Energy for the
second time, and we believe Abry is an excellent partner for
management as they execute the company’s next phase of growth,”
said Drew Spitzer, a managing director at Harris Williams. “We look
forward to seeing what the company will accomplish next.”
“We continue to see strong interest in service-based companies,”
added Brian Lucas, a managing director at Harris Williams.
“Franklin Energy is yet another success story of a company that
delivers a differentiated service to a client base that requires
the expertise of an outsourced service provider to operate more
effectively and profitably.”
Franklin Energy was formed through the merger of Franklin Energy
Services and AM Conservation Group, and the subsequent acquisition
of PlanetEcosystems, resulting in a vertically-integrated DSM
company that offers outsourced energy efficiency and demand
response program management services, product fulfillment and
customer engagement software to utility clients. Leveraging 30
years of expertise, the company has a nationwide footprint and
serves the residential, commercial and industrial, multi-family and
small business end markets. Franklin Energy is headquartered in
Port Washington, Wisconsin.
Kohlberg is a leading private equity firm headquartered in Mount
Kisco, New York. Since its inception in 1987, Kohlberg has
organized eight private equity funds, through which it has raised
over $7.5 billion of committed equity capital. Over its 32-year
history, Kohlberg has completed 79 platform investments and nearly
200 add-on acquisitions, with an aggregate transaction value of
over $20 billion.
Abry is one of the most experienced and successful
sector-focused private equity investment firms in North America.
Since their founding in 1989, the firm has completed over $82
billion of leveraged transactions and other private equity or
preferred equity placements. Currently, the firm manages over $5
billion of capital across their active funds.
The Harris Williams EPI Group has experience across a broad
range of sectors, including industrial and infrastructure services;
oil and gas equipment and services; energy efficiency and clean
tech; power products and technology; engineering and construction;
and environmental services. For more information on the firm’s
energy, power, and infrastructure experience, please visit the EPI
Group’s section of the Harris Williams website.
The Harris Williams Business Services Group has experience
advising companies that provide a range of commercial, industrial
and professional services. For more information on the firm’s
Business Services Group and other recent transactions, visit the
Business Services Group’s section of the Harris Williams
website.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
For media inquiries, please contact Katie Langemeier, associate
brand manager, at +1 (804) 648-0072.
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version on businesswire.com: https://www.businesswire.com/news/home/20190815005501/en/
Katie Langemeier, associate brand manager, +1 (804) 648-0072
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