- Foley & Lardner served as legal counsel to EPC Power while Vinson & Elkins and Kirkland & Ellis served as legal counsel to Goldman Sachs and Cleanhill Partners
- Cleanhill Partners first invested in EPC Power in 2021
- Cleanhill Partners invests in the energy transition sector
Goldman Sachs Asset Management and Cleanhill Partners have acquired a majority stake in California-based EPC Power Corp, a provider of smart inverters. No financial terms were disclosed.
Cleanhill Partners first invested in EPC Power in 2021.
“In an exploding market of cleantech innovators, EPC Power stands out for its industry-leading technology, which directly supports the renewable energy transition while preserving grid reliability and performance,” said Rakesh Wilson and Ash Upadhyaya, managing partners at Cleanhill Partners, in a statement. “As prior investors in EPC Power, we have every confidence that the company will meet its ambitious and environmentally critical objectives and we are excited to partner with Goldman Sachs for the next stage of EPC Power’s growth.”
To date, EPC Power has sold more than two gigawatts of smart inverters globally. EPC Power is based in Southern California, operating its first manufacturing facility in Poway in San Diego County, with a second U.S. manufacturing location on the East Coast scheduled to open in late 2022 to significantly expand production capacity. To support its growing customer base in Europe, EPC Power also maintains an engineering and sales office in Helsinki, Finland. The company employs approximately 180 people.
William Blair served as financial advisor to EPC Power; Foley & Lardner served as legal counsel to EPC Power; Vinson & Elkins and Kirkland & Ellis served as legal counsel to Goldman Sachs and Cleanhill Partners.
Cleanhill Partners invests in the energy transition sector.