Harris Williams Advises Veregy on its Sale to Court Square Capital Partners

November 4, 2020

Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Veregy, a portfolio company of Bow River Capital, on its sale to Court Square Capital Partners (Court Square). Veregy is an energy services company (ESCO) that designs, engineers and implements eco-friendly building and system optimizations that minimize upfront costs and produce meaningful energy and operational savings. The transaction was led by Luke Semple, Drew Spitzer, Ian Thomas, Greg Waller and Trevor Casey of the Harris Williams Energy, Power & Infrastructure (EPI) Group.

“It was a pleasure to work with the Veregy team on this transaction,” said Drew Spitzer, a managing director at Harris Williams. “Veregy is a leader in delivering energy efficient solutions and is recognized throughout the industry for providing their clients with long-term value and best-in-class customer service.”

“ESCOs continue to operate at the forefront of the energy transition and Veregy has taken a leading role in driving customer adoption of energy efficient and renewable energy solutions,” added Luke Semple, a managing director at Harris Williams. “This transaction illustrates the strong market interest in scale service providers accelerating the energy transition.”

Veregy offers energy efficiency upgrades, building automation, engineering services, solar generation, battery storage and energy management to clients in both public and private sectors. With over 500 employees operating across the country, including more than 50 professional engineers, Veregy has the technical expertise to address customers’ most complex challenges. Veregy has optimized thousands of buildings and generated billions of dollars in real savings for its clients.

Bow River Capital is a private alternative asset management company based in Denver that is focused on investing in the lower middle market in three asset classes, including private equity, real estate and software growth equity. For more information on Bow River Capital, please visit www.bowrivercapital.com.

Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, the team has completed over 230 investments, including several landmark transactions, and has developed numerous businesses into leaders in their respective markets. Court Square invests in companies that have compelling growth potential within the business services, general industrial, healthcare, and technology and telecommunications sectors. The firm has $7.0 billion of assets under management and is based in New York.

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).

The Harris Williams EPI Group has significant experience advising market leading providers of technology, services and products across a broad range of sectors. These sectors include energy management; infrastructure services; utility services; testing, inspection, and certification services; environmental services; engineering and construction; power products and technology; and energy technology. For more information on the Group’s experience, please visit the EPI Group’s section of the Harris Williams website.

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.