Partners Group acquires energy firm Budderfly

The purchase price was more than $500 million.

  • Budderfly’s founder is CEO Al Subbloie
  • Guggenheim Securities LLC served as financial advisor on the deal
  • As of December 31, 2021, Partners Group has $127 billion in assets under management

Partners Group has acquired a majority equity stake in Shelton, Connecticut-based Budderfly, an energy-as-a-service provider. The purchase price was more than $500 million.

According to the news release on the deal, Partners Group “aims to transform Budderfly into a multi-billion-dollar infrastructure platform by investing to expand its customer base and solutions offering.”

Founded by CEO Al Subbloie, Budderfly offers EaaS solutions for the measurement, reduction, and management of energy demand and consumption. Budderfly has more than 2,750 customer sites across 49 states.

On the transaction, Subbloie said in a statement: “At Budderfly, we are committed to helping customers meet their sustainability goals and reduce costs. We believe Partners Group’s experience scaling infrastructure platforms, as well as its operational expertise and deep financial resources, make the firm an ideal partner as we expand our footprint.”

Latham & Watkins, LLP served as counsel to Partners Group in connection with the transaction. Guggenheim Securities, LLC served as financial advisor to Budderfly while Dentons US, LLP served as counsel.

Since 1996, Partners Group has invested over $170 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients. As of December 31, 2021, Partners Group has $127 billion in assets under management. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore.