H.I.G. Capital today announced the acquisition of Comverge, a provider of energy management services. “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,” said Brian Schwartz of H.I.G. Capital.
Comverge is a provider of intelligent energy management services that allow utilities, commercial and industrial users and homeowners to use energy in a more effective and efficient manner. The company’s product offering includes hardware, software and services used to manage peak electricity demand and has a strong value proposition by providing enhanced grid reliability at a lower cost relative to power plants. The company has over 500 utility and 2,100 commercial customers and over one million residential participants in its service programs. Comverge is based in Norcross, GA (www.comverge.com).
H.I.G. Capital specializes in providing capital to small and medium-sized companies and invests in management-led buyouts and recapitalizations of manufacturing or service businesses. Since its founding, H.I.G. has invested in and managed more than 200 companies and the firm’s current portfolio includes companies with combined revenues in excess of $8 billion. H.I.G. Capital has more than $8.5 billion of equity capital under management and is based in Miami, FL and has other offices in Atlanta, GA; Boston, MA; San Francisco, CA; London, UK; Rio de Janeiro, Brazil; Hamburg, Germany; and Paris, France (www.higcapital.com).