Morgan Stanley Capital Partners Acquires Resource Innovations Morgan Stanley Capital Partners acquires Resource Innovations, a leading tech-enabled energy efficiency and sustainability services company, aiming to drive growth and innovation in the clean energy transition. Posted April 2, 2024 New York and San Francisco, April 2, 2024 – Investment funds managed by Morgan Stanley Capital Partners (“MSCP”), the middle-market focused private equity team at Morgan Stanley Investment Management, today announced it has acquired Resource Innovations (“RI” or the “Company”), a leading tech-enabled services company focused on energy efficiency and sustainability. Under the terms of the agreement, MSCP acquired a controlling interest in the Company from BV Investment Partners and certain other shareholders. Founder Lauren Casentini will continue as the Chief Executive Officer of RI and remain a significant equity holder in the Company following the completion of the transaction. Headquartered in the San Francisco Bay Area, RI provides advisory services, program management services and software to utility, government and corporate clients in the areas of energy efficiency and decarbonization with the goal of lowering energy costs, reducing waste, cutting greenhouse gas emissions and improving grid resiliency. The Company is a recognized leader in working with utilities to develop and implement both traditional energy efficiency programs, including lighting, weatherization and controls, as well as emerging growth areas such as electric vehicle charging, distributed solar and demand response. Commenting on the acquisition, Eric Kanter, Managing Director and Head of Industrial Services at MSCP, said: “Resource Innovations’ tech-enabled services help turn energy policy goals into reality. The Company supports core energy efficiency needs while seeking to address the next phase of clean energy transition challenges being faced across the United States. We believe the Company’s record of consistent growth and ability to expand into these emerging areas with tremendous market potential have paved the way for continued opportunity. Under industry veteran Lauren Casentini’s leadership, we believe this purpose-built team is poised for the next step in helping communities on their energy transition journey. We look forward to working together as we seek to advance RI’s leadership position and continue expanding the company through organic growth and M&A.” Ms. Casentini stated, “MSCP’s investment is a recognition of the tremendous growth we have experienced over the past several years and validates the hard work our team does to deliver innovative, differentiated solutions for our customers. I look forward to working together with Morgan Stanley Capital Partners to continue to grow our Company.”
CLICK HERE to read the full press release. |