MIDLAND, Texas & ARLINGTON, Texas--(BUSINESS WIRE)--Priority Power Management, LLC (“Priority”), a Texas-based leading independent energy management and consulting services firm, announced today that Ara Partners Group (“Ara”) has made a significant investment in Priority. Financial terms of the transaction were not disclosed.
“Priority is excited to welcome Ara as a significant new investor,” said John Bick, Managing Principal at Priority. "Ara is committed to our company’s strategic growth initiatives and our focus on developing and deploying strategies of integrating an optimized mix of power supply, risk management, demand response, distributed generation, and smart grid technologies to our large and expanding customer base.”
Priority, which was founded in 2001, navigates over 1,300 clients through complex and ever-evolving energy markets by offering innovative power solutions, including energy supply, risk management, demand response, and private infrastructure solutions.
Troy Thacker, a Managing Partner at Ara, commented, “Our investment in Priority Power reflects the best-in-class customer service that Priority Power has exhibited throughout its 18-year history. Priority’s efficient energy and risk management solutions and advocacy for its customers—often as a virtual extension of their staff—has enabled the company to grow to managing over 11 terawatt hours (TWh) of energy annually. We are excited to help John and Pat continue to build Priority through both organic and acquisition-led strategies.”
Padraig “Pat” Ennis, Founding Principal of Priority, added “We are confident that this investment from Ara will take Priority into the next stage of its growth, allowing us to extend our reach into new markets while continuing to provide world-class service to our existing customers. As we mark this significant milestone, which will enhance both our sources and access to capital, we also want to thank our dedicated employees and customers for their longstanding support.”
The Board of Directors of Priority will now include Mr. Bick, Mr. Ennis, members of Ara, and Brandon Schwertner, Founder and Managing Partner of Teleios Commodities.
Mr. Schwertner commented, “Priority Power is a company I have known, been a customer of, and respected for over a decade. I believe Priority Power is well positioned to participate in the ongoing energy transition. They have both the depth and breadth of experience to provide solutions that integrate renewable and low-carbon sources with traditional energy sources.”
Priority was represented by Stephens Inc., serving as the exclusive financial advisor, with legal representation from The Pouls Law Firm, PLLC, and Baker Botts L.L.P.
About Priority Power Management
Priority Power Management, LLC acts as an extension of its clients’ staff to develop and implement strategies that mitigate risk and overcome challenges associated with managing energy data, supply, demand, and delivery infrastructure. Priority Power delivers financial and operational improvements to its clients as their trusted energy advisor. For more information on Priority Power, please visit www.prioritypower.net.
About Ara Partners
Ara Partners is an industrial private equity firm that invests in companies with sustainable competitive advantages built upon greater resource efficiency. Ara Partners takes a thematic approach to investing within the industrial, chemical and materials, and energy sectors by seeking to build businesses that are sustainable, resource efficient, and compliant with ESG principles. For more information on Ara Partners, please visit www.arapartners.com.