The private equity firm Partners Group has acquired a majority equity stake in Budderfly, the Shelton-headquartered provider of energy management solutions.
In a press release, Partners Group announced it committed $500 million in growth capital, stating it would transform Budderfly “into a multi-billion-dollar infrastructure platform by investing to expand its customer base and solutions offering.” The acquisition comes as another private equity firm, Edison Partners, exited from Budderfly.
“We believe Partners Group’s experience scaling infrastructure platforms, as well as its operational expertise and deep financial resources, make the firm an ideal partner as we expand our footprint,” said Al Subbloie, Budderfly”™s founder and CEO.
“Budderfly is disrupting the energy efficiency market by providing a holistic solution to underserved commercial and industrial customers, and offering additional services, such as component-level data monitoring, that are becoming increasingly important for sustainability reporting,” said Patrick Langan, member of management, private infrastructure Americas, Partners Group. “Budderfly’s business model has strong infrastructure characteristics, with a sizeable and growing customer base served under long-term contracts that provide recurring revenues. A key part of our value creation plan will be expanding these service offerings and broadening Budderfly’s customer base.”
