Enercon Services, Inc. Partners with Oaktree
KENNESAW, Ga.–(BUSINESS WIRE)–Enercon Services, Inc. (“ENERCON” or the “Company”), a leading engineering and environmental services firm that supports the safe and efficient production, delivery, and use of electricity, announced today it has entered into a definitive agreement to receive a significant investment from funds managed by Oaktree Capital Management, L.P. (“Oaktree”). In partnership with management, Oaktree will provide additional resources to support the Company’s strategic vision and growth plans. In connection with the transaction, AE Industrial Partners, LP sold its stake in ENERCON. Terms of the transaction were not disclosed.
Founded in 1983, ENERCON provides engineering and environmental services to customers in the power generation, power delivery, and related markets, including nuclear, renewable and conventional power generation, transmission and distribution, distributed generation, battery storage, and EV infrastructure. With over 1,500 employees, ENERCON offers a broad range of professional services to private and public sector clients throughout the United States and internationally, including engineering design, regulatory, environmental protection, compliance, and inspection services.
Robert Bryan, President of ENERCON, commented, “We are very excited to begin our partnership with Oaktree, who shares our common values and supports our commitment to delivering the highest standards of excellence to our clients. This investment provides additional resources for ENERCON to build on its position as the provider of choice for engineering consulting in the power and utility sector and offer expanded capabilities for our clients and opportunities for our employees.”
Ulysses Fowler, Managing Director in Oaktree’s Power Opportunities strategy, said, “ENERCON is a widely recognized industry leader and trusted partner to its utility, public sector and industrial customers. We see tremendous opportunity for ENERCON’s differentiated engineering and environmental services driven by its exceptional employee talent and commitment to quality, safety, and customer service. We are thrilled to partner with ENERCON’s leadership team and look forward to leveraging our resources and relationships to support the company’s client base and growth plans.”
Harris Williams served as financial advisor to the Company and Kirkland & Ellis LLP served as legal advisor to the Company and Oaktree on the transaction.
About Enercon Services, Inc.
Enercon Services, Inc. is a multi-discipline engineering and environmental services firm focused on delivering safe and efficient solutions for the power and industrial sectors. With 20 offices across the country, ENERCON’s engineering capabilities cover a wide range of disciplines and expertise including Electrical, I&C, Mechanical, Civil Structural, Chemical, Environmental and Special Licensing. Together with our clients, ENERCON is dedicated to bringing solutions for America’s energy infrastructure. For additional information, please visit ENERCON’s website at www.enercon.com.
About Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $170 billion in assets under management as of December 31, 2022. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,050 employees and offices in 20 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.
Contacts
Marketing & Communications
Dave Flanagan
404.384.3698
www.enercon.com