CS Energy, a leader in engineering and procurement services for the renewable energy sector, announced this Tuesday it has completed its acquisition by American Securities; a leading global alternative investment manager operating integrated groups across Credit, Private Equity, Real Estate and Strategic Initiatives.
Firstly, CS Energy has designed, built and optimized a wide range of projects in the solar, storage and emerging energy industries. Particularly in solar it has positioned itself as a true leader; it has built over 1 gigawatt of projects, as well as 300 MWh of storage across the United States.
Secondly, American Securities, a private equity firm, acquired the equity interests of the company from a fund managed by the Infrastructure and Power strategy of Ares Management Corporation; and The Conti Group.
Thirdly, American Securities has substantially invested in the market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion. Also, from $50 million to $250 million of EBITDA. Furthermore, the company and its affiliates have approximately $23 billions of investments under management.
In addition, Matthew Skidmore, CEO of CS Energy, said. “CS Energy is extremely excited to be partnering with American Securities through our next phase of growth.”
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He also remarked. “Our management team and strategy will remain consistent on a go-forward basis and we are excited to continue to grow our business by continuing to execute great projects for our customers.”
On the other hand, Michael Sand, a Managing Director of American Securities, commented. “CS Energy fits squarely within our strategy to acquire market leading companies servicing the U.S. energy transition to renewables.”
He also highlighted. “We are impressed by the company’s management team, corporate culture and outstanding track record, and are thrilled to partner with management to achieve its growth plans.”
Finally, Keith Derman, co-Head of Ares Infrastructure and Power, concluded. “Our shared vision with the talented management team was executed seamlessly. Our commitment to investing in the energy transition remains strong; and we anticipate future opportunities to partner for the development of new facilities.”
