Trivest Partners LP said Wednesday it sold AM Conservation Group Inc. to Kohlberg & Company. Kohlberg announced the acquisition on March 27. AM Conservation is a provider of energy and water efficiency products. Pipper Jaffray advised AM Conservation.
MIAMI–(BUSINESS WIRE)–Trivest Partners, L.P. (“Trivest”) today announced the sale of AM Conservation Group, Inc. (“AM” or the “Company”) by funds managed by Kohlberg & Company L.L.C., a leading private equity firm based in Mount Kisco, New York. AM, based in Charleston, SC, is the nation’s leading provider of energy and water efficiency products and related services. The Company’s growing business focuses on providing high-quality, high return-on-investment products and services to support the implementation of energy efficiency programs, a rapidly growing $8.5 billion market.
Trivest Fund IV acquired AM in partnership with the Company’s Founder in November 2010. Under Trivest’s ownership, AM transformed from a distribution business into a multi-faceted enterprise providing higher value services to a broad base of customers. Additionally, the Company acquired the energy and water conservation business of Niagara Conservation which created the true market leader in the space.
Todd Recknagel, AM Conservation Group’s Chief Executive Officer stated, “Our partnership with Trivest was instrumental in creating tremendous value at AM over the past few years. Trivest helped us bolster our management team, energize our sales and marketing efforts and acquire another large player in the industry. On behalf of the AM management team, we thank Trivest for all of their support.”
Troy D. Templeton, Trivest’s Managing Partner said, “The Company achieved significant revenue and EBITDA growth during our ownership which yielded an outstanding investment outcome for AM’s management and Trivest Fund IV investors. Todd and the team did an excellent job of executing on the strategies identified early during our investment period as well as flawlessly integrating a sizable acquisition.”
AM Conservation Group was advised by Piper Jaffray (financial advisor) and Akerman LLP (legal advisor).
About AM Conservation Group:
Established in 1989, AM Conservation Group is the leading expert in energy and water efficiency solutions designed to provide maximum value for a client’s investment. Since its inception, the company has facilitated some of the largest and most effective energy preservation programs in U.S. history with utility companies, program managers and government agencies. To support the numerous programs and services upheld by AM Conservation, the company specializes in the development, manufacturing and distribution of over 700 professional-grade products for the conservation industry, ranging from energy efficient LED light bulbs to custom-designed, water saving showerheads.
About Trivest Partners:
Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 200 transactions, totaling over $5.0 billion in value. For additional information, please visit www.trivest.com.