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Tiger Infrastructure Partners Fund III Closes Growth Capital Investment with the Acquisition of Unison Energy, a Fully-integrated Energy-as-a-Service Microgrid Platform
NEW YORK and LONDON, June 17, 2024 /PRNewswire/ — Tiger Infrastructure Partners, an innovative middle market growth infrastructure investor, today announced the acquisition of Unison Energy LLC, a fully-integrated Energy-as-a-Service (EaaS) platform that provides behind-the-meter microgrid solutions including comprehensive power, heating, and cooling solutions to a wide array of end-markets in North America. The acquisition of Unison expands Tiger’s portfolio of investments in energy transition, one of the firm’s three sectors of focus. This growth capital investment is the last of nine platform investments for Tiger Infrastructure Partners Fund III, which closed at its hard cap of $1.25 billion in early 2022.
Based in Greenwich, CT, Unison designs, builds, owns, and operates microgrids on-site at customer locations. Unison’s solutions enable cost savings, reduce carbon footprint, and ensure energy resiliency with no capital outlay for the customer. Unison owns and operates ~30 projects (operating and with signed Energy Service Agreements) across essential end-markets including hospitals, data centers, hospitality, food and beverage, biofuels, and other industrials. The portfolio is underpinned by long-term, fixed-price contracts with high-credit quality counterparties and no commodity exposure. The Company focuses on markets with resiliency challenges and/or elevated power prices across the Northeast, Southwest and Midwest.
Tiger CEO Emil W. Henry, Jr. said, “The role of reliable, resilient, on-site power generation is becoming increasingly sought after as the global energy transition continues apace. We believe that Unison is benefiting from long-term secular tailwinds including an aging grid that is increasingly burdened by the growth of renewable energy and a demonstrable step-change in demand for power driven by artificial intelligence and a drive towards onshoring certain elements of US manufacturing. We are excited to partner with the Unison team to support the Company in its next phase of growth and capitalize on the strong and growing demand for access to more dependable, consistent, cost-effective and lower-carbon power.”
Unison Co-Founder and Co-CEO Andy Cooper said, “Unison provides tailored solutions for commercial and industrial businesses seeking to address rising energy costs, power resiliency challenges, and carbon emissions reductions. We leverage our proprietary systems and in-house engineering and operation & maintenance expertise to play a critical role in power generation and decarbonization. We have been expanding our offering to include on-site carbon capture and other in demand solutions. We believe Unison is well-positioned to become the partner of choice for discerning customers seeking a reliable, long-term solution to reduce cost, enhance resiliency and decarbonize operations.”
Unison Co-Founder and Co-CEO Tim Lukes remarked, “Tiger has deep experience in energy transition, experience with similar business models and track record of partnering with teams to build and scale platforms. As a result, we determined that Tiger would be the ideal partner. We have an actionable pipeline of projects and we are excited to provide creative solutions to our customers with the support of Tiger.”
About Tiger Infrastructure Partners
Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies. Tiger’s value-add approach targets growth investments across the Digital Infrastructure, Energy Transition and Transportation sectors in North America and Europe, where Tiger believes strong tailwinds are driving demand for new infrastructure. Tiger maintains offices in New York and London. For more information, visit www.tigerinfrastructure.com.
About Unison Energy
Unison Energy LLC provides turnkey energy solutions underpinned by long-term fixed price contracts with investment grade counter parties with no commodity exposure. The Company designs, builds, owns, and operates microgrids on-site for hospitals, data centers, hospitality, food and beverage, biofuels, and other industrial customers in North America. Unison is headquartered in Greenwich, CT. For more information, please visit www.unisonenergy.com.
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