Image: EnergyCAP
Resurgens Technology Partners, a software-focused private equity firm, announced a strategic investment in Happy Valley’s EnergyCAP, Inc. EnergyCAP’s solution, which includes its industry-leading software and complementary services, is used by more than 2,100 organizations across government, education and commercial sectors to streamline utility bill accounting and energy management.
For decades, EnergyCAP® has empowered organizations to derive value from their energy information. The company’s award-winning EnergyCAP software is at the core of each implementation and delivers the functionality that energy, sustainability and facility managers need to meet energy conservation goals, improve their organization’s bottom line and protect the environment. A market leader with deep domain expertise and a blue-chip customer base, EnergyCAP enjoys top decile customer satisfaction and retention rates.
Resurgens’ approach of working alongside management to execute growth strategies will enable EnergyCAP to deepen customer acquisition strategies, expand into adjacent end markets, accelerate technology innovations and execute acquisitions to expand its product breadth.
“As we embark on this next chapter in our company’s long history, we see an incredible opportunity to work alongside Resurgens to become the leading platform for all aspects of an organization’s utility bill accounting and energy management needs,” commented Founder and CEO Steve Heinz, PE, CEM. “Resurgens is a unique group of highly-talented software-focused investment and operating professionals who will fuel accelerated growth and success through strategy, execution, capital and people.”
“EnergyCAP has proven its ability time and time again to adapt to the evolution in technology and the utility management industry,” said Resurgens’ Managing Director Fred Sturgis. “They provide not just a ‘slick tool’ for a simple problem; rather, they help customers solve for difficult mission-critical problems with an impressive blue-chip and loyal customer base. In addition, they have created a true community-oriented culture that enables employees to perform at their best. We are excited about partnering with EnergyCAP in this next phase of the company’s growth and expansion.”
“We are excited to welcome EnergyCAP to the Resurgens family of portfolio companies,” commented Resurgens’ Managing Director Adi Filipovic. “Our focus will be to not only work collaboratively to scale the company’s platform by continuing to expand its sales, marketing and operational capabilities, but work with the management team to identify and integrate add-on acquisitions that strategically expand the product portfolio for the benefit of our customers.”
This investment marks Resurgens’ sixth platform investment and eleventh acquisition, continuing to build on the firm’s momentum of partnering with lower middle-market businesses with a focus on application and IT/infrastructure software.
Software Equity Group acted as exclusive financial advisor to EnergyCAP. The recent investment from Accel-KKR to Blue Mountain Resources was also advised by Software Equity Group, which provides M&A advisory services for emerging and established software companies.
EnergyCAP, Inc. has helped more than 10,000 energy managers in government, education, and commercial organizations derive value from their utility bills and energy data. Clients use EnergyCAP software-based solutions to streamline utility bill processing and auditing, track energy and greenhouse gas data, process campus chargebacks, target reduction goals, benchmark facilities, submit to ENERGY STAR, measure and verify energy & cost savings, create budgets and forecasts, and much more. EnergyCAP was named to Inc. Magazine’s Best Workplaces in 2020 and is a five-time ENERGY STAR Partner of the Year award winner.
Resurgens Technology Partners is an Atlanta-based private equity firm focused on investing in North American & selected European, lower middle-market businesses with a focus on application and IT/infrastructure software. The Resurgens’ team includes professionals with significant investment and operating experience in the tech private equity industry. The firm has developed an operating and portfolio management model that is differentiated in its market segment and will help drive value to its portfolio companies.
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