AM Conservation Group, a provider of energy and water efficiency programs, products and services has been acquired by Kohlberg & Company from Trivest. Trivest Fund IV acquired AM Conservation in November 2010.
AM Conservation Group develops, manufactures and distributes products for the conservation industry, including energy efficient lighting like LEDs, weatherization products, water saving showerheads, faucet aerators and toilet tank devices as well as managing utility program services. Customers include utility companies, government agencies, and municipalities and energy efficiency contractors and distributors. The company was founded in 1989 and is headquartered in Charleston, SC (www.amconservationgroup.com).
The transaction with Kohlberg & Company and increased capital base will allow the company to further invest in new strategic initiatives. “We see tremendous growth opportunities with AM Conservation Group,” said Benjamin Mao, Partner at Kohlberg & Company. “Energy efficiency and water conservation are forefront issues that demand attention and investment. AM Conservation Group has been an industry leader focused on these sectors for years, and we look forward to partnering with the company to further expand its continued growth.”
Kohlberg & Company invests in companies in the industrial manufacturing; consumer products; business services; healthcare services; and financial services sectors. The firm concentrates on companies with EBITDAs between $20 million and $100 million where it can invest between $50 million and $200 million of equity. Kohlberg & Company is currently investing its seventh private equity fund, Kohlberg Investors VII. The firm was founded in 1987 and is based in Mt. Kisco, NY (www.kohlberg.com).
“We are thrilled to team up with Kohlberg & Company,” said Todd Recknagel, CEO of AM Conservation. “They have the outstanding track record, capital and resources to propel AM Conservation Group’s service offerings and clientele to new levels. Many members of our management team are investing side by side with Kohlberg and are committed to AM Conservation Group’s future success.”
GE Antares Capital, Fifth Third Bank, and Metropolitan Life Insurance Company provided credit financing. Piper Jaffray acted as financial advisor to AM Conservation Group.
© 2015 PEPD • Private Equity’s Leading News Magazine • 3-30-15
