LRI Energy Solutions, a portfolio company of DFW Capital Partners, recently merged with Retro-Tech Systems under a new holding company Integrated Efficiency Solutions. No financial terms were disclosed.
DFW Capital Partners (“DFW”) today announced that Integrated Efficiency Solutions (“IES”), a new holding company, has continued its commitment to the energy solutions market with its third investment. On June 30, 2017, IES acquired Retro-Tech Systems (“RTS”) as a wholly owned subsidiary. RTS, which includes RTS Lighting, RTS Water, RTS Utility Metering, and RTS Building Envelope, joins LRI Energy Solutions (“LRI”), also a wholly owned subsidiary. LRI Energy Solutions includes wholly owned subsidiaries Lighting Retrofit International, Water Savers, and recently acquired Enlight
Energy Efficient Lighting.
With the acquisition of RTS, IES has firmly established a national market customer and service footprint. Both RTS and LRI enjoy established reputations as leaders in costeffective, advanced, creative solutions for energy, water, building envelope, and metering – focused on energy service companies (“ESCOs”) supporting the Federal government, MUSH (municipalities, universities, schools, and hospitals), and utility providers. Both companies’ customers rely on the similar core competencies of design, engineering, project management, analysis, and market knowledge.
The IES combination presents several compelling market differentiators. First, IES now enjoys substantially larger bonding capabilities which supports both customers whose growth is focused on small and mid-sized projects, as well as those ESCO customers whose growth is focused on larger projects. Second, IES now operates with a hybrid resourcing model providing the flexibility of both insourced professionals and long-term installation partnerships. Finally, IES’ combined purchasing power and vendor relationships bolster the company’s ability to provide even more value to its customers.
Douglas H. Gilbert, Partner at DFW, said, “The combination of RTS and LRI into IES represents unsurpassed geographic reach across the US by two results-oriented organizations.” Stephen J. Troese, Jr., CEO of Integrated Efficiency Solutions and President of LRI added, “RTS has distinguished itself for years by providing exceptional value to its customers. Together, we can now reach more customers with more savings solutions. We are delighted to welcome RTS into the Integrated Efficiency Solutions organization. This is a great day for Integrated Efficiency Solutions customers.”
Kurt Minko, President of RTS, continued, “Our organizations have enjoyed tremendous mutual respect and admiration for several decades making RTS and LRI natural partners under the Integrated Efficiency Solutions banner. IES sales professionals will deliver an enticing value proposition across the combined national footprint. We look forward to realizing our collective growth potential.”
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middlemarket companies. The firm concentrates on service companies, with an emphasis on outsourced business and industrial support services and healthcare. Managing in excess of $600 million in assets, DFW is headquartered in Teaneck, New Jersey and maintains an office in Chevy Chase, Maryland.