Jun 08, 2017

Itron Inc. Purchases Comverge Inc.

Harris Williams & Co. advises on sale of demand response provider

Harris Williams & Co. advises on sale of Comverge

Harris Williams & Co. announced the sale of Comverge Inc. to Itron Inc. Harris Williams & Co. served as the advisor to Comverge, a portfolio company of H.I.G. Capital.

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 3 million energy-management devices into mass-market demand management programs.

H.I.G. is a global private equity and alternative assets investment firm with $21 billion of equity capital under management. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogot√°, Mexico City and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 200 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion.

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; as well as 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.

Harris Williams & Co., a member of The PNC Financial Services Group Inc. (NYSE:PNC), is a middle-market investment bank focused on the advisory needs of clients worldwide.