Franklin Energy Group Shifting Ownership to Abry Partners
July 31, 2019 •Franklin Energy
PORT WASHINGTON, WI & CHARLESTON, SC, July 31, 2019 -- Franklin Energy Group (“Franklin Energy” or the “Company”), a leading provider of demand side management solutions to utility clients, announced today that Abry Partners (“Abry”), a Boston-based private equity firm, will purchase majority ownership of the Company from Kohlberg & Company, LLC (“Kohlberg”) and its other stockholders.
Franklin Energy is the partnership of Franklin Energy Services and AM Conservation Group, the leading vertically-integrated demand side management firm in the industry. The Company offers a seamless customer experience through energy efficiency and demand response program management services, as well as product fulfillment. Franklin Energy has a nationwide footprint and will leverage its 30 years of expertise as it continues delivering integrated customer engagement solutions alongside its implementation services and product solutions.
“Our top priority is always meeting the needs of our utility clients,” said Paul Schueller, Chief Executive Officer of Franklin Energy. “We started as a commercial firm, grew into the residential sector, and have expanded our NGAGE™ customer engagement technology suite to identify even more potential for best serving our clients. Our new partnership with Abry opens new growth opportunities that we are extremely well-positioned to explore.”
“Over the last 10 years, we have grown our business tenfold,” said John Bailes, President of AM Conservation Group. “We owe that to our long-term client relationships and fabulous employees, and past partners like Kohlberg. We are excited to partner with a firm like Abry as we enter this next phase of growth for our company.”
“We could not be more excited to partner with Paul Schueller, John Bailes, and the long list of talented executives at Franklin Energy,” said JD Martin of Abry Partners. “Paul and John are pioneers in this industry and, together with an outstanding team, have built a truly differentiated platform. We have tremendous respect for what Franklin Energy has achieved under Kohlberg’s ownership and very much look forward to supporting this great organization’s strategic vision as it expands its market leadership by continuing to provide utility clients and their end-users exceptional value.”
About Franklin Energy Services
Franklin Energy Services delivers flexible energy efficiency, demand response, and grid optimization programs that enable utilities to achieve their highest-priority goals. Its integrated in-house services and proven software provide deeper personalization and insights, acting as a true partner to utilities. The NGAGE™ platform is a scalable end-to-end technology that seamlessly integrates utility portfolio programs into a single interface for more efficient management and more effective customer engagement. Franklin Energy Services is celebrating its 25th year serving the utility industry, with solutions implemented by more than 1,000 experts in more than 60 offices across 26 states and provinces.
About AM Conservation Group
Since 1989, the Charleston, SC based AM Conservation Group, has been the utility industry’s leading provider of energy- and water-saving products, kits, and online stores. It manufactures and distributes over 350 energy efficiency and water conservation products, which are custom engineered for the unique needs of the industry and carry ENERGY STAR® and WaterSense® certifications. AM Conservation Group’s offering includes the Niagara Conservation and Simply Conserve product lines.
About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $82.0 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds.