Unison Energy LLC (Unison) announced today that American Infrastructure Funds (AIM), a private investment firm, has acquired a controlling interest in the company and committed up to $150 million of equity capital, alongside minority investor Hunt Companies, Inc. (Hunt), to accelerate the growth of the business.
Headquartered in Mamaroneck, N.Y., Unison is a fully integrated distributed generation company that develops, builds, owns and operates combined heat and power (CHP) projects at commercial and industrial customer sites including hospitals, hotels, supermarkets and manufacturing facilities. Unison has eight projects in operation and an additional eight projects in construction or late stage development. The company focuses on key markets in the northeast, mid-Atlantic and the west coast.
Unison Co-Founder and Co-CEO Andy Cooper said, Over the past five years, the Unison team has built a robust and scalable platform and signed up customers in a broad range of industries. Through a combination of proprietary systems, data-driven processes, strong industry sourcing relationships and in-house engineering and operation & maintenance expertise, we have positioned Unison for rapid expansion in conjunction with the right strategic and capital partner. We are pleased to have found that partner in AIM.
Co-Founder and Co-CEO Tim Lukes remarked, As electric rates continue to rise and power grids become increasingly unreliable, Unisons customers are attracted to the companys compelling value proposition of no money down, instant utility bill savings, enhanced system resiliency and superior customer service. We are confident that our project development pipeline is poised for substantial growth. We are excited about our partnership with AIM.
The transaction marks AIMs first platform investment in the fast-maturing distributed generation sector. AIM Managing Director Paul Ho commented, After reviewing numerous companies in this emerging sector, we identified Unison as the best-in-class fully integrated platform in the CHP segment. With its exceptional management team as well as a strong head start and focus on commercial and industrial customers, Unison is uniquely positioned to capitalize on the segments robust growth, and potentially serve as a consolidator of choice in this fragmented industry. We believe that the combined business reach of AIM and Hunt will help further foster the strong growth at Unison.
Unison Energy LLC provides turnkey energy solutions “ and develops, builds, owns and operates these systems at commercial and industrial customer sites such as hospitals, hotels, food processing, supermarkets, manufacturing facilities and other. The company sells electricity and thermal energy to customers pursuant to long-term offtake agreements and provides utility bill savings and system resiliency benefits. For more information, please visit www.unisonenergy.com.
About American Infrastructure Funds:
AIM is a leading private investment firm based in the San Francisco Bay Area. With approximately $3 billion in assets under management, AIM brings innovative investment capital to support the growth of real property, infrastructure and natural resource-related businesses. AIMs strategy is designed to provide unique advantages for the owners, management teams and businesses in which it invests, while creating attractive returns and tax-advantaged current income for investors. For more information, please visit www.aimlp.com.
About Hunt Companies:
Founded in 1947, Hunt Companies, Inc. is today a holding company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunts affiliates and investees include investment management, mortgage banking, direct lending, loan servicing, asset management, property management, development, construction, consulting and advisory. The platforms employ more than 6,000 people. For more information, please visit www.huntcompanies.com.