PR92082

NEW ORLEANS, Oct. 5, 2021 /PRNewswire=KYODO JBN/--

-- Purchase Empowers Bernhard to Continue its Leadership in the

Energy-as-a-Service Market

DIF Capital Partners ("DIF"), a leading global independent infrastructure

investment fund manager, through its fund DIF Infrastructure VI, today

announced an agreement to acquire Bernhard, LLC ("Bernhard") the largest

privately-owned Energy-as-a-Service ("EaaS") solutions company in the United

States, from an affiliate of Bernhard Capital Partners.

Bernhard has provided solutions to its customers' energy and infrastructure

needs for more than 100 years and shifted its focus in 2014 to becoming a

leading Energy-as-a-Service provider. As part of this business model, Bernhard

enters into long-term turnkey EaaS concession contracts to upgrade, retrofit

and service large existing building energy facilities in order to achieve

substantial energy savings. Clients are currently predominantly higher

education and healthcare institutions. To date, Bernhard has closed 15 EaaS

transactions, including the largest EaaS concession in U.S. history. Senior

management will retain a meaningful ownership position and continue its

groundbreaking work leading Bernhard.

"Bernhard delivers distributed energy through its unique EaaS model which

provides clients access to fully integrated and efficient energy solutions,

thereby significantly reducing the carbon footprint of their buildings and

utility systems. Bernhard's approach fits perfectly with DIF's Public-Private

Partnership expertise and ambition to invest in clean energy infrastructure

solutions around the globe," said Gijs Voskuyl, Partner and Head of Investments

for DIF Infrastructure VI. "We are excited to partner with Bernhard's

outstanding management team and support the company in their rapid growth at

the forefront of the energy transition."

"As Bernhard continues pushing to new heights in the EaaS market, we are

excited to join forces with DIF Capital Partners given its extensive experience

with Public-Private Partnerships, district energy, Energy-as-a-Service

projects, and a shared commitment to efficiency, ESG and sustainability," said

Ed Tinsley, Bernhard CEO. "The support and strategic counsel from DIF will help

to guide Bernhard through the next chapter of its story."

With DIF's acquisition of Bernhard, the company will continue the acceleration

of its market leading core EaaS business to healthcare and higher education

facilities while expanding those services to other markets and geographies.

"The future of Bernhard has never been brighter," said Tinsley. "Our track

record proves we have the expertise and capabilities to push the industry to

places it has never been before. With this announcement, we are truly at the

forefront of a new era for energy solutions that will shape the world for

generations to come."

About Bernhard

Bernhard, a portfolio company of Bernhard Capital Partners, is a leading

Energy-as-a-Service company delivering turnkey projects and custom solutions in

the United States with 100+ years of energy and infrastructure project

experience servicing higher education, healthcare, commercial and specialty

markets. Bernhard combines development, financing, design, construction and

operations to deliver turnkey Energy-as-a-Service solutions that reduce energy

use, risk and cost so that our clients can focus on their everyday work.

Headquartered in Metairie, Louisiana, Bernhard has more than 2,000 employees in

more than 20 office locations across the country. For more information, visit

Bernhard.com.

About DIF Capital Partners

DIF Capital Partners is a leading global independent fund manager, with more

than €9.0 billion in assets under management across nine closed-end

infrastructure funds and several co-investment vehicles. DIF has invested in

more than 100 Public-Private Partnership projects over the past 16 years in

sectors such as healthcare, government, and education, where the provision of

energy, management of energy systems and efficiency of outputs are often a key

feature of projects. DIF Capital Partners invests in greenfield and operational

infrastructure assets located primarily in Europe, the Americas, and

Australasia through two complementary strategies:

   -- Traditional DIF funds, of which DIF Infrastructure Fund VI is the latest

      vintage, target equity investments with long-term contracted or regulated

      income streams including public-private partnerships, concessions,

      utilities, and (renewable) energy projects.

   -- DIF CIF funds target equity investments in small to mid-sized economic

      infrastructure assets in the telecom, energy, and transportation sectors.

DIF Capital Partners has a team of over 170 professionals, based in ten offices

located in Amsterdam (Schiphol), Frankfurt, London, Luxembourg, Madrid, New

York, Paris, Santiago, Sydney, and Toronto. For more information please visit

DIF.eu.

About Bernhard Capital Partners

Bernhard Capital Partners is a services and infrastructure-focused private

equity management firm established in 2013. Bernhard Capital Partners has

deployed capital in three funds across five strategies and has approximately

$2.5 billion of gross assets under management and is ranked as one of Private

Equity International's 300 largest private equity firms worldwide. Bernhard

Capital Partners seeks to create sustainable value by leveraging its experience

in acquiring, operating, and growing services and infrastructure businesses.

J.P. Morgan Securities LLC served as Bernhard's financial advisor, and Kirkland

& Ellis LLP provided legal counsel. Macquarie Capital (USA) Inc. served as

financial advisor, White & Case LLP served as legal advisor, Black & Veatch

Management Consulting served as technical advisor, RWDI served as energy

advisor, Deloitte LLP (Canada) served as financial, accounting and tax advisor

and Oliver Wyman as commercial advisor to DIF.

SOURCE: Bernhard