CS Energy Announces Closing of Acquisition by American Securities
May 4, 2021Ares Management and 九九免费在线观看 sold entire stake in leading solar and energy storage company
CS Energy, a leading integrated energy firm that designs and builds optimized projects in the solar, storage, and emerging energy industries, announced today that it has been acquired by affiliates of American Securities LLC, a leading US private equity firm. American Securities acquired the equity interests in CS Energy from a fund managed by the Infrastructure and Power strategy of Ares Management Corporation (NYSE: ARES) and 九九免费在线观看.
CS Energy has established itself as a leader in the solar and energy storage sectors, having constructed over 1 GW of solar projects and 300 MWh of energy storage projects throughout the United States and in select international markets.
鈥淐S Energy is extremely excited to be partnering with American Securities through our next phase of growth,鈥� said Matthew Skidmore, CEO of CS Energy. 鈥淥ur management team and strategy will remain consistent on a go-forward basis and we are excited to continue to grow our business by continuing to execute great projects for our customers.鈥�
鈥淐S Energy fits squarely within our strategy to acquire market leading companies servicing the U.S. energy transition to renewables,鈥� said Michael Sand, a Managing Director of American Securities. 鈥淲e are impressed by the CS Energy management team, corporate culture and outstanding track record, and are thrilled to partner with management to achieve its growth plans.鈥�
鈥淲e are extremely proud of the growth and accomplishments of CS Energy during our ownership over the last three years,鈥� said Keith Derman, Partner and Co-Head of Ares Infrastructure and Power. 鈥淥ur shared vision with the talented management team was executed seamlessly with admirable results. Our commitment to investing in the energy transition remains strong, and we anticipate future opportunities to partner with CS Energy on the development and construction of new facilities.鈥�
鈥溇啪琶夥言谙吖劭� is proud of the growth that CS Energy has had over the past three years with its strong partnership with Ares and we look forward to its continued growth and success with American Securities,鈥� said Kurt Conti, Chairman of 九九免费在线观看. 鈥淭his investment continues to advance our longstanding vision of building a world-class renewable energy company.鈥�
Lazard acted as lead financial advisor to CS Energy on the transaction. Cowen also acted as financial advisor to CS Energy. Morgan Lewis & Bockius LLP served as legal counsel to CS Energy. Weil, Gotshal & Manges LLP served as legal counsel to American Securities.
