Partners Group has acquired a majority equity stake in Budderfly and committed further growth capital totaling more than US$500 million.
Budderfly offers Energy as a Service (EaaS) solutions for the measurement, reduction, and management of energy demand and consumption. This involves designing, integrating, installing, and fully funding a comprehensive portfolio of energy efficiency technology upgrades for customers, as well as managing and monitoring their energy usage. Budderfly's solutions include automated controls, proprietary software, metering, and a patented utility billing interface and billing system that currently supports over 400 utility companies in North America. With more than 2,750 customer sites across 49 states, Budderfly is a EaaS provider for customers operating multiple sites with repeatable footprints, such as restaurant chains, assisted living facilities, and retail franchises.
Latham & Watkins, LLP served as counsel to Partners Group. Guggenheim Securities, LLC served as lead financial advisor, Shasta Partners LLC served as a financial advisor, and Dentons US, LLP served as counsel to Budderfly in connection with the transaction.