BOSTON, April 2, 2024 /PRNewswire/ — BV Investment Partners (BV), a middle-market private equity firm focused on the tech-enabled business services, software and IT services sectors, announced today the sale of Resource Innovations, a leading tech-enabled services company focused on energy efficiency and sustainability, to Morgan Stanley Capital Partners.
Founded in 2016, Resource Innovations provides advisory services, program management services and software to utility, government and corporate clients in the areas of energy efficiency and decarbonization with the goal of lowering energy costs, reducing waste, cutting greenhouse gas emissions and improving grid resiliency. BV invested in Resource Innovations in 2021 and, concurrent with the transaction, combined Resource Innovations with energy software and consulting firm Nexant, Inc., creating a powerful yet nimble organization for driving best-in-class energy and software solutions for utilities and commercial, industrial, and residential energy consumers. Since then, Resource Innovations has built out its leadership team, organically developed new offerings, and completed a key acquisition to further expand the company’s reach. Resource Innovations is headquartered in the San Francisco Bay Area.
Lauren Casentini, Chief Executive Officer of Resource Innovations, commented, “Sharing a common vision and values with BV enabled us to work seamlessly together over the past few years to accelerate our business and help our clients implement both traditional energy efficiency programs as well as emerging growth areas. We are now positioned to continue our leadership in helping utilities navigate the clean energy transition with our new partner, Morgan Stanley Capital Partners.”
“Resource Innovations is a growing and dynamic company with tremendous long-term potential as clean and sustainable energy investments grow rapidly,” said Justin Harrison, Managing Partner of BV Investment Partners. “We are pleased to have worked with Lauren and her team to accelerate opportunities that will help deliver value and unparalleled service offerings to their clients.”
Eric Ahlgren, Managing Director of BV Investment Partners, added, “Resource Innovations was founded on the principle of helping utilities manage the clean energy transition and is today the trusted partner of choice in this rapidly evolving market. It has been impressive to witness RI win business in not only its core energy efficiency offerings, but also launching and scaling solutions in the emerging areas of electrification, electric vehicles, and load flexibility.”
About Resource Innovations
Resource Innovations is accelerating the transition to clean energy, serving as a trusted partner to utilities and governments in energy efficiency and decarbonization planning. Since its inception in 2016 under a bold and urgent vision to address climate change and energy equity, Resource Innovations has been included in the Inc. 5000 List of America’s Fastest Growing Companies three times. Visit resource-innovations.com to learn more about how we are accelerating the clean energy transition and leading the charge to power change.
About BV Investment Partners
BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested approximately $5.1 billion, actively targeting investments in the tech-enabled business services, software, and IT services industries. The firm is investing out of its 11th private equity fund, which closed in September 2023 with $1.75 billion in capital commitments. BV was ranked in Inc. magazine’s 2023 list of Founder-Friendly Investors. For more information, visit www.bvlp.com.
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SOURCE BV Investment Partners