Victor Capital Partners has made an investment in New York City-based CodeGreen Solutions, a provider of energy management and sustainability services for the commercial real estate industry. No financial terms were disclosed.
NEW YORK–(BUSINESS WIRE)–CodeGreen Solutions (“CodeGreen”), the leading provider of energy management and sustainability services for the commercial real estate industry, today announced that it has received an investment from Victor Capital Partners, a premier middle market private equity firm. The investment will provide support and resources to help CodeGreen pursue accelerated organic growth and expand innovation and technology enabled solutions and service offerings, as well as to pursue acquisitions of complementary businesses.
CodeGreen President Adin Meir and the company’s senior management team will continue to manage the business and retain a significant ownership stake.
Founded in 2005, CodeGreen provides corporate decarbonization and sustainability strategy and implementation consulting, energy engineering, green building certifications, and ESG data management and reporting services to a diverse range of blue-chip clients including commercial property owners, real estate asset managers, and the best known technology companies across the country. CodeGreen is a three-time winner of the Energy Star Partner of the Year award by the US Environmental Protection Agency for its innovation and leadership in energy efficiency. “Working with CodeGreen and their ProAct software really helped us identify where and how to improve our performance and greatly streamlined the data collection and summary process for our GRESB submission,” said Steve Smith, Principal of Normandy Real Estate Partners, a CodeGreen client.
“We are proud to be partners to leaders in the real estate industry as they invest in decarbonization and sustainability initiatives, and we are excited that the industry has recognized that these efforts are a fiduciary duty to stakeholders in mitigating climate related risks, driving down costs, and increasing the value of real estate investments,” said Adin Meir, CodeGreen President. “The investment from Victor Capital Partners will allow CodeGreen to extend its geographic reach and expand innovation and technology-enabled solutions and services to our clients who are leaders in meeting increasing energy management and sustainability goals.”
“We are thrilled to be partnering with CodeGreen and its terrific leadership team,” said Douglas Korn, Managing Partner of Victor Capital. “CodeGreen is on the front lines in the increasingly urgent battle against climate change with the best technologies, methodologies, and metrics, and the most innovative team of consultants in the real estate industry. Importantly, CodeGreen is the leading advisor to New York City property owners and investors on the city’s recently passed Climate Mobilization Act, which mandates a 40% reduction in energy usage of large commercial buildings by 2030, and we expect similar laws to be enacted in other major U.S. cities.”
Victor Capital Advisor Terry Moore will join the company’s Board of Directors. Moore previously served as Chief Operating Officer of CLEAResult, the largest provider of energy efficiency programs and services in North America. Moore previously spent more than 25 years at Accenture, where he built and led businesses in mortgage processing and consulting, credit services, and banking. “It’s inspiring to work with a such a capable and mission-driven team committed to helping clients achieve high performance in the critically important areas of energy management and sustainability,” Moore stated.
About CodeGreen Solutions
CodeGreen Solutions is a leading sustainability and energy management services firm based in New York City. CodeGreen provides energy management and sustainability services to commercial property owners, real estate asset managers, and corporations covering over 800 million square feet of property nationwide. CodeGreen helps clients develop and implement lasting decarbonization strategies to operate more energy efficient, sustainable, resilient and healthy buildings to mitigate risk and protect long-term investments. CodeGreen’s actionable programs draw from expertise in building operations, energy regulations, energy engineering, smart buildings, renewable energy, green building certifications and corporate sustainability. To learn more about CodeGreen, please visit www.codegreensolutions.com.
About Victor Capital Partners
Victor Capital Partners is a middle-market private equity firm that invests in branded businesses with compelling growth potential in consumer and industrial products and services as well as business services. Victor Capital uses its capital and resources to partner with companies in its target sectors that have valuable brands, solid foundations in technology, potential for add-on acquisitions, and attractive business and market trends and characteristics. The firm was founded in late 2015 by Douglas R. Korn, a private equity veteran who has been partnering with strong management teams to help build great companies since the late 1980s. For more information on Victor Capital, please visit www.victorcapitalpartners.com.