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PE Firm, Other Investors Sell Texas-Based Broker To Infrastructure Investment Manager
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I Squared Capital, a global infrastructure investment manager, today announced that it has entered into an agreement to acquire Priority Power Management, LLC. ("Priority Power" or "the Company").
I Squared is acquiring Priority Power from Ara Partners Group, LLC, Oaktree Capital Management, L.P. and certain other shareholders.
Brandon Schwertner will continue as the Chief Executive Officer of Priority Power and remain an equity holder in the Company following the completion of the transaction
Among other things, I Squared Capital cited Priority Power's services to build private transmission and distribution assets to support continued growth for its customers.
"I Squared’s investment will provide an opportunity for Priority Power to expand its reach across the U.S. as well as make additional investments in high-growth markets," I Squared said
Priority Power offers various energy services including energy procurement, risk management, interconnection services and renewable energy solutions.
Priority Power has approximately 10,000 customer contracts, with customers across more than 40 U.S. states.
Terms of the transaction were not disclosed.
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July 30, 2024
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Copyright 2024 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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