Canadian mid-market private equity firm Fulcrum Capital Partners has sold Verdant Environmental Technologies to Emerson. No financial terms were disclosed. Based in Montreal, Verdant is a provider of energy management solutions for the hospitality industry in North America. Fulcrum acquired Verdant in 2016.
Fulcrum Capital Partners (Fulcrum), a private equity firm focused on the Canadian middle market, is pleased to announce the sale of Verdant Environmental Technologies (Verdant) to Emerson (NYSE:EMR).
“Verdant is proud to join Emerson and I know we will continue to reach new heights as part of a leading global company,” said Alain Bélanger, President & CEO of Verdant. “We appreciate the support of Fulcrum in growing Verdant to where we are today and guiding us into our bright future with Emerson.”
Based in Montreal, Verdant designs, manufactures, and markets energy management solutions for the hospitality industry in North America, including smart thermostats, SaaS solutions, and monitoring services. Verdant’s products and services combine advanced occupancy and thermal sensing technologies with real-time analytics to ensure optimal energy settings, reducing consumption and maximizing cost savings for hotel operators without compromising guest comfort.
Fulcrum acquired Verdant from the founding entrepreneur in 2016. Since that time, Verdant has experienced substantial growth by expanding its share of the hotel market, diversifying sales into ancillary hospitality markets, and developing new products. Greg Collings, Partner at Fulcrum said, “Through the hard work of its talented employees, Verdant has grown rapidly to become one of North America’s leading energy management companies for the hospitality industry. Verdant has been a tremendous investment for Fulcrum over the past three and a half years and we would like to thank Verdant’s team for their commitment to excellence during our partnership with them.”
Fulcrum Capital Partners is an independent private equity firm focused on the Canadian lower-middle market. Fulcrum has invested more than $750 million over the past two decades and is currently investing from its fifth private equity fund with $350 million in committed capital. Fulcrum’s portfolio companies operate in diverse industries such as manufacturing, services, distribution and consumer products. For more information visit Fulcrumcapital.ca.
Verdant, headquartered in Montreal, Quebec, is an industry leader in commercial energy management solutions. Verdant’s energy saving thermostats and Verdant EI™ energy management service deliver significant energy savings without compromising guest comfort. For more information visit Verdant.co.
Emerson (NYSE: EMR), headquartered in St. Louis, Missouri (USA), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial and residential markets. Its Automation Solutions business helps process, hybrid and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. Its Commercial & Residential Solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency and create sustainable infrastructure. For more information visit Emerson.com.