H.I.G. Capital , a global private equity investment firm has completed the acquisition of Comverge, Inc. by affiliates of H.I.G.”
Based in Norcross, GA, Comverge is a leading provider of intelligent energy management solutions that empower utilities, commercial and industrial users and homeowners to use energy in a more effective and efficient manner. The Company’s core demand response product offering includes hardware, software and services that enable the management of peak electricity demand and has a strong value proposition by providing enhanced grid reliability at a lower cost relative to power plants. With almost 30 years of experience in the industry, Comverge has a strong market position and broad customer footprint with over 500 utility and 2,100 commercial customers and having enrolled over one million residential participants in demand response programs.
Brian Schwartz of H.I.G. commented, “We believe that the intelligent energy management and demand response industries will continue to grow quickly supported by a rebounding economy, aging power infrastructure, more stringent environmental regulations and a strong value proposition. With the support and expertise available to it as an H.I.G. portfolio company, Comverge is well-positioned to take advantage of this growth with a leading market position and differentiated product offering. We are excited about this opportunity and look forward to working with Comverge’s executives and employees to help the Company reach its full potential.”
USA, Miami, FL & USA, Norcross, GA
- Comverge to be acquired by Peak Merger for around $49M Posted on March 29, 2012