Harris Williams Advises CPower on its Pending Sale to LS Power

November 30, 2018

Harris Williams, a preeminent middle market investment bank focused on the advisory needs of clients worldwide for more than 25 years, announces that it is advising Enerwise Global Technologies, Inc. (trade name CPower), a portfolio company of H.I.G. Capital (H.I.G.), on its pending sale to LS Power. CPower, a leader in demand response and distributed energy resources in North America, will continue to operate as a stand-alone entity under the LS Power umbrella of companies. The transaction is being led by Drew Spitzer, Luke Semple, Ian Thomas and Neha Shah of the Harris Williams’ Energy, Power & Infrastructure (EPI) Group, Tyler Dewing of the firm’s Technology, Media & Telecom (TMT) Group and Anuj Kapur of the firm’s Richmond office.

“We are proud to be representing CPower in this transaction,” said Drew Spitzer, a managing director at Harris Williams. “The management team has done an exceptional job building a market leading demand response platform with an unmatched suite of technology to deliver superior customer service.”

“CPower represents another successful transaction in demand response, energy efficiency and distributed resource sectors for Harris Williams’ EPI Group, furthering our deep expertise,” said Luke Semple, a managing director at Harris Williams. “The partnership with LS Power highlights the interest we’re seeing more broadly for providers of differentiated energy services for commercial and industrial customers.”

CPower is a leading demand-side energy management solutions provider that helps commercial, industrial and government organizations in the U.S. energy markets save on energy costs, earn revenue through energy curtailment, enhance their sustainability efforts and contribute to a balanced, reliable grid. CPower creates customized energy strategies designed to help customers achieve success through demand response and demand management programs including automated curtailment, storage and energy efficiency monetization.

H.I.G. is a leading global private equity and alternative assets investment firm with over $30 billion of equity capital under management (based on total capital commitments to funds managed by H.I.G. and its affiliates). Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, Mexico City, New York and San Francisco, as well as international affiliate offices in Bogota, Hamburg, London, Luxembourg, Madrid, Milan, Paris, Rio de Janeiro and Sao Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion.

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 39,000 MW of competitive power generation and 560 miles of transmission infrastructure, for which it has raised over $39 billion in debt and equity financing.

Harris Williams (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide. The firm has deep industry knowledge, global transaction expertise, and an unwavering commitment to excellence. Harris Williams provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements, and capital markets advisory services.

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.

Harris Williams’ TMT Group advises leading private and public companies, entrepreneurs, private equity firms, and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS and Internet & Digital Media segments, with particular emphasis on specific verticals including education, energy technology, fintech, public sector, and supply chain/logistics and has a dedicated healthcare technology (HCIT) practice. Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which 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 is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.