Bernhard Capital Partners Management, LP (“BCP”), on behalf of its affiliated investment funds, is pleased to announce the closing of the previously announced sale of Bernhard, LLC (“Bernhard” or “the Company”), the largest privately-owned Energy-as-a-Service (“EaaS”) solutions company in the United States and BCP’s first portfolio company, to DIF Capital Partners (“DIF”), a leading global independent infrastructure investment fund manager, through its fund DIF Infrastructure VI.
The acquisition close marks the beginning of the next chapter for Bernhard as a leader in the EaaS market and represents a significant milestone for BCP’s inaugural flagship fund.
Jim Bernhard, Founder and Partner at BCP, said, “We are so proud of the premier EaaS business that Bernhard has grown to become and want to thank the over 2,000 employees for their tenacity and hard work over the years. We wish the entire Bernhard team well in this next chapter of the business and look forward to watching them continue to innovate in an ever-evolving market.”
“First, I want to thank the BCP team for their vision, guidance, and unwavering support over these last several years; they have been instrumental in getting the business to where it is today as a leader in the EaaS market. As we move forward into our next phase of growth, we are thrilled to be joining DIF and are honored to be core to their EaaS strategy in the U.S.,” said Ed Tinsley, Bernhard CEO.
Senior management will retain meaningful ownership and continue its groundbreaking work leading Bernhard. J.P. Morgan Securities LLC served as Bernhard’s financial advisor, and Kirkland & Ellis LLP provided legal counsel.
