Energy Acquisitions in United States

Tiger Infrastructure Partners Fund III announced the acquisition of Unison Energy LLC, an Energy-as-a-Service platform providing behind-the-meter microgrid solutions across North America. Unison designs, builds, owns, and operates on-site microgrids for commercial and industrial customers, and the investment expands Tiger’s energy transition portfolio. The transaction is described as a growth capital investment and represents Tiger Infrastructure Partners Fund III’s final platform investment.

Kohler Co. announced it will separate Kohler Energy into an independent business and bring in Platinum Equity as the majority investment partner. Kohler will retain an ongoing minority interest after closing, which is expected in the first half of 2024, creating a standalone platform focused on energy resilience and distributed energy solutions.

Priority Power Management has acquired the business of Atlas Retail Energy, an energy procurement organization serving customers across the United States. The deal expands Priority Power’s market reach and provides Atlas clients access to additional products, services, and Priority Power’s proprietary pricing and data system. Atlas will continue operating under the Atlas Retail Energy brand, powered by Priority Power.

Priority Power Management, Inc. completed the acquisition of the energy procurement, consulting, and solar development business of Affordable Gas & Electric Company, LLC (AGE). The deal expands Priority Power’s footprint in Midwest energy markets and strengthens its growing solar development capabilities. AGE’s energy management services business is headquartered in Mt. Vernon, Illinois and serves municipal, commercial, and industrial customers across Illinois and Ohio.

Paragon Energy Solutions announced the acquisition of Rock Creek Innovations, LLC (RCI), an innovation company that designs and licenses the Highly Integrated Protection System (HIPS) Platform for nuclear safety-related control systems. The deal expands Paragon’s capabilities in safety instrumentation and control solutions for commercial nuclear power plants and small modular reactor providers; financial terms were not disclosed.

QIC and Ullico completed their previously announced acquisition of CenTrio (formerly Enwave Energy US), a leading U.S. district energy platform. CenTrio provides centralized heating, cooling, and electricity solutions to more than 400 buildings across multiple U.S. cities and will use the new ownership partnership to accelerate expansion and growth.

Gainline Capital Partners made an investment in Atlantic Energy, an energy retailer providing electricity and natural gas through environmentally-conscious, technology-enabled value-added bundles. Atlantic Energy is headquartered in Deerfield Beach, Florida, and the investment is intended to support the company’s next stage of growth and provide its first institutional capital.

Riot Blockchain, Inc. completed its previously announced acquisition of Whinstone US, a major Bitcoin mining and hosting facility operator in North America. Riot acquired Whinstone from Northern Data, paying 11.8 million shares of Riot common stock plus $80 million in cash, and plans to further expand Whinstone’s facility capacity.

Pritzker Private Capital completed a recapitalization of Energy Distribution Partners (EDP), a leading North American distributor of propane and light fuels. PPC invested alongside Concentric Equity Partners and Duchossois Capital Management, partnering with EDP’s management team, which will continue to lead the business. Financial terms were not disclosed.

Abry Partners will purchase majority ownership of Franklin Energy Group, a provider of demand-side management solutions for utility clients. The stake is being acquired from Kohlberg & Company, LLC and other stockholders, shifting control of the Port Washington, Wisconsin-based company to Abry.

Balance Point Capital, alongside its affiliated funds, arranged and led a $55 million financing for Budderfly, Inc. consisting of senior debt and preferred equity. The investment supports Budderfly’s growth strategy in the Energy Efficiency as a Service market, and combined with additional funding from other backers brings total capital raised to $77 million.

Albireo Energy, LLC acquired energy consulting and brokerage firm Taylor Consulting and Contracting to expand Albireo’s capabilities in the deregulated energy space and strengthen its energy management and procurement platform. Taylor will continue day-to-day operations while joining Albireo Energy and its investor, Huron Capital.