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Morgan Stanley Investment Management’s middle-market focused private equity team Morgan Stanley Capital Partners (MSCP) announced […]]
Morgan Stanley Acquires Energy Transition Solutions Provider Resource Innovations – ESG Today
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Morgan Stanley Acquires Energy Transition Solutions Provider Resource Innovations
Mark Segal
April 3, 2024
Morgan Stanley Investment Management’s middle-market focused private equity team Morgan Stanley Capital Partners (MSCP) announced the acquisition of energy efficiency and sustainability-focused services and solutions provider Resource Innovations.
Founded in 2016, San Francisco-based Resource Innovations works with organizations including utilities, government agencies and corporate clients to help meet their energy transition and decarbonization goals. The company provides advisory services, program management services and software in the areas of energy efficiency and decarbonization, aimed at lowering energy costs, reducing waste, cutting emissions, and improving grid resiliency.
MSCP’s Managing Director and Head of Industrial Services, Eric Kanter said:
“Resource Innovations’ tech-enabled services help turn energy policy goals into reality. The Company supports core energy efficiency needs while seeking to address the next phase of clean energy transition challenges being faced across the United States.”
Under the terms of the transaction, MSCP will acquire a controlling interest in Resource Innovations from tech-enabled services-focused private equity investor BV Investment Partners and certain other shareholders. BV invested in Resource Innovations in 2021, and combined the company with energy software and consulting firm Nexant.
Eric Ahlgren, Managing Director of BV Investment Partners, said:
“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.”
Resource Innovations founder Lauren Casentini will continue as CEO of the company, and will remain a significant equity holder following the transaction.
Casentini said:
“MSCP’s investment is a recognition of the tremendous growth we have experienced over the past several years and validates the hard work our team does to deliver innovative, differentiated solutions for our customers. I look forward to working together with Morgan Stanley Capital Partners to continue to grow our Company.”
Mark founded ESG Today following a 20 year career in investment management and research. Prior to founding ESG Today, Mark worked at Delaney Capital Management (DCM) in Toronto, Canada, most recently as the firm’s head of U.S. equities. While at DCM, Mark was part of the firm’s ESG team, responsible for evaluating and tracking the sustainability factors impacting portfolio companies, and assessing the suitability of companies for portfolio inclusion. Mark also spent several years in the sell-side research industry, covering the technology and services sectors. Mark holds an MBA from Columbia University in New York, a BBA from the Schulich School of Business at York University in Toronto, and is a CFA charterholder.
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