Priority Power Announces Investment by Oaktree Capital
Summary
Ara Partners, a Houston-based private equity firm specializing in industrial decarbonization investments that acquired Priority Power in 2019, will continue to hold an ownership stake. Priority Power was founded in 2001 and serves over 7,000 commercial and industrial customers in North America totaling over $2.7 billion of energy procurement under management. In addition, Priority Power designs, constructs, owns and operates private networks of medium and high voltage transmission lines, substations, and renewable generation and battery storage assets. During this period, we have partnered with the management team to execute a range of attractive growth opportunities, including two strategic acquisitions, that have further positioned Priority Power to be a leader in the ongoing energy transition. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that are focused on sustainability and ESG principles.