DIF Capital Partners Invests in Sustainability and Energy Solutions with Acquisition of Bernhard, LLC
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
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