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Abry Partners buys Franklin Energy

Abry Partners has acquired Port Washington, Wisconsin-based Franklin Energy, a provider of demand-side management solutions to utility clients. No financial terms were disclosed. Harris Williams advised Franklin Energy on the transaction. Franklin Energy was backed by Kohlberg & Company LLC.


RICHMOND, Va.–(BUSINESS WIRE)–Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Franklin Energy Group (Franklin Energy), a portfolio company of Kohlberg & Company, LLC (Kohlberg), on its sale to Abry Partners (Abry). Franklin Energy is a leading provider of demand-side management (DSM) solutions to utility clients. The transaction was led by Luke Semple, Drew Spitzer and Ian Thomas of the Harris Williams Energy, Power & Infrastructure (EPI) Group and Brian Lucas of the firm’s Business Services Group.

“Franklin Energy is a truly differentiated platform that provides a comprehensive, vertically-integrated and seamless experience for its utility clients,” said Luke Semple, a managing director at Harris Williams. “The company is uniquely positioned to capitalize on the strong growth and increasing importance of DSM programs in utility client portfolios.”

“We’re thrilled to have worked with Franklin Energy for the second time, and we believe Abry is an excellent partner for management as they execute the company’s next phase of growth,” said Drew Spitzer, a managing director at Harris Williams. “We look forward to seeing what the company will accomplish next.”

“We continue to see strong interest in service-based companies,” added Brian Lucas, a managing director at Harris Williams. “Franklin Energy is yet another success story of a company that delivers a differentiated service to a client base that requires the expertise of an outsourced service provider to operate more effectively and profitably.”

Franklin Energy was formed through the merger of Franklin Energy Services and AM Conservation Group, and the subsequent acquisition of PlanetEcosystems, resulting in a vertically-integrated DSM company that offers outsourced energy efficiency and demand response program management services, product fulfillment and customer engagement software to utility clients.

Leveraging 30 years of expertise, the company has a nationwide footprint and serves the residential, commercial and industrial, multi-family and small business end markets. Franklin Energy is headquartered in Port Washington, Wisconsin.

Kohlberg is a leading private equity firm headquartered in Mount Kisco, New York. Since its inception in 1987, Kohlberg has organized eight private equity funds, through which it has raised over $7.5 billion of committed equity capital. Over its 32-year history, Kohlberg has completed 79 platform investments and nearly 200 add-on acquisitions, with an aggregate transaction value of over $20 billion.

Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $82 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5 billion of capital across their active funds.

The Harris Williams EPI Group has experience across a broad range of sectors, including industrial and infrastructure services; oil and gas equipment and services; energy efficiency and clean tech; power products and technology; engineering and construction; and environmental services. For more information on the firm’s energy, power, and infrastructure experience, please visit the EPI Group’s section of the Harris Williams website.

The Harris Williams Business Services Group has experience advising companies that provide a range of commercial, industrial and professional services. For more information on the firm’s Business Services Group and other recent transactions, visit the Business Services Group’s section of the Harris Williams website.

Harris Williams, an investment bank specializing in M&A advisory services, advocates for sellers and buyers of companies worldwide through critical milestones and provides thoughtful advice during the lives of their businesses. By collaborating as one firm across Industry Groups and geographies, the firm helps its clients achieve outcomes that support their objectives and strategically create value. Harris Williams is committed to execution excellence and to building enduring, valued relationships that are based on mutual trust. Harris Williams is a subsidiary of the PNC Financial Services Group, Inc. (NYSE: PNC).

Harris Williams LLC is a registered broker-dealer and member of FINRA and SIPC. Harris Williams & Co. Ltd is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 07078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. Corporate Finance Advisors GmbH is registered in the commercial register of the local court of Frankfurt am Main, Germany, under HRB 107540. The registered address is Bockenheimer Landstrasse 33-35, 60325 Frankfurt am Main, Germany (email address: Geschäftsführer/Directors: Jeffery H. Perkins, Paul Poggi. (VAT No. awaited). Harris Williams is a trade name under which Harris Williams LLC, Harris Williams & Co. Ltd and Harris Williams & Co. Corporate Finance Advisors GmbH conduct business.