Franklin Energy and AM Conservation Group merge to pursue energy efficiency market
Written By: Stratton Report
November 1, 2016
On November 1, Franklin Energy and AM Conservation Group announced that they have completed their merger.
Franklin Energy has been an implementer and administrator of energy efficiency programs, offering utility-focused services across the United States and Canada while AM Conservation Group has been a provider of energy and water conservation products and EE program implementation services.
The combined company is a portfolio company of Kohlberg & Company, LLC.
Paul Schueller, founder of Franklin and CEO of the combined entity, remarked:“The combination of Franklin Energy with AMCG further enhances each company’s unique service and product capabilities, broadens our geographic footprint, and greatly diversifies the end markets we serve. Together, we will provide industry-leading implementation and execution of energy efficiency and demand response programs for our customers.”
Michael Quinn, who will become chief integration officer of the combined companies and continue to lead AM Conservation as president noted:
“We are excited by the merger with Franklin and capitalizing on the respective strengths of each organization. The combination of the two companies creates a differentiated market leader to better serve our current and prospective customers in a reliable manner that they deserve.”
Benjamin Mao, partner at Kohlberg & Company commented: “Franklin and AMCG are well-positioned to serve strong long-term demand for energy efficiency programs, which is the most cost-effective way to meet growing and dynamic energy needs.”
Harris Williams & Co. acted as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to AM Conservation Group. Antares, BMO Capital Markets, KeyBanc Capital Markets, and MetLife provided committed debt financing for the transaction. Piper Jaffray acted as financial advisor and Jones Day acted as legal advisor to Franklin Energy.