In celebration of the groundwater system’s 10th anniversary, the Orange County Groundwater Replenishment System...
Harris Williams & Co. is leading the transaction
Harris Williams & Co., a middle-market investment bank focused, announced the pending sale of Comverge Inc. to Itron Inc. Comverge is a provider of cloud-based, demand-response and energy-efficiency solutions. Harris Williams & Co. is serving as the advisor to Comverge, a portfolio company of H.I.G. Capital (H.I.G). The transaction, which is subject to customary closing conditions, is led by Brian Lucas, Andrew Spitzer, Luke Semple, Ian Thomas and Will Forston of Harris Williams & Co.’s Energy, Power & Infrastructure (EPI) Group and Tyler Dewing of the firm’s Technology, Media & Telecom (TMT) Group.
“Comverge is an industry-leading provider of outcome-based energy management solutions with an outstanding management team and the strongest software, product and service offering in the industry. The team has done an exceptional job building a platform, which allows utilities to better manage energy load and customers to monitor and consume energy more efficiently. We are thrilled to represent the company’s shareholders and management on this pending combination,” said Brian Lucas, managing director for Harris Williams & Co.
“We continue to see strong interest in the convergence of North American demand response, energy efficiency and distributed energy solutions providers, and Comverge extends our deep track record of M&A advisory to the sector,” said Luke Semple, a director at Harris Williams & Co. “We are excited about Comverge’s pending combination with Itron and look forward to following this powerful combination and its growth in the energy technology and energy management markets.”
Comverge is a provider of integrated cloud-based demand response, energy efficiency and customer engagement solutions that enable electric utilities to ensure grid reliability, lower energy costs, meet regulatory demands and enhance the customer experience. Through its combination of software, hardware and services, Comverge helps utilities optimize every aspect of a demand management program, from participant recruitment and device installation to call center support, control events, and measurement and verification. Comverge has enrolled and deployed nearly three million energy management devices into mass market demand management programs.
Itron is a technology and services company dedicated to the resourceful use of energy and water. Itron provides comprehensive solutions that measure, manage, and analyze energy and water. Its broad product portfolio includes electricity, gas, water, and thermal energy measurement devices and control technology; communications systems; software; and managed and consulting services. With thousands of employees supporting nearly 8,000 customers in more than 100 countries, Itron applies knowledge and technology to better manage energy and water resources.