Oct 25, 2023

Capstone Partners Advised GridBright on its Sale to Qualus Corporation

Capstone Partners advised GridBright—an energy grid modernization solutions company—on its sale to Qualus Corporation, a portfolio company of New Mountain Capital. Terms of the deal were not disclosed.

Headquartered near Silicon Valley, GridBright provides power utilities and renewable energy and storage developers with innovative solutions to improve resiliency, sustainability, and security. The firm’s technology solutions and related advisory services span all domains of utility operations and systems, integrate sustainability projects into the electric grid infrastructure, and enable a secure, compliant, and efficient exchange of sensitive grid data across the entire grid ecosystem. GridBright is an industry leader in the implementation of outage management, advanced distribution management, distributed energy resource management, and emergency management systems.

GridBright also works closely with the US Department of Energy, and in collaboration with over 50 organizations across the Energy, Power & Infrastructure industry, to address some of the most pressing challenges of the energy transition. Learn more at www.gridbright.com.

GridBright had grown organically for a decade and was looking for a strong partner for the next phase of our growth. We couldn’t be happier with the process conducted by Capstone, and the result that they delivered. We are very excited about joining Qualus. Together with Qualus, we will be able to better serve our clients and deliver the transformational solutions needed for the energy transition.

Dr. Ali VojdaniFounder and CEO, GridBright

GridBright’s software, systems integration, and advisory services are highly complementary to Qualus’ planning, engineering, program and construction management, and specialized field services—positioning the combined organization to offer its clients comprehensive end-to-end solutions. This acquisition further solidifies Qualus’ position as a leading innovator at the forefront of the energy transition with differentiated capabilities across grid modernization, resiliency, security, and sustainability.

Ted Kinsman, Managing Partner at Capstone Partners, commented, “The process of upgrading our electrical grid to meet the demands of the energy transition is monumental, and will continue for decades. Firms like GridBright who have the fundamental expertise and capabilities are instrumental in helping utilities and power producers successfully navigate that process. The industry is in the early stages of the game, where new technologies and business models are developing, and understanding the changing landscape is imperative for companies exploring the M&A market, both buyers and sellers.”

“The addition of GridBright is transformational and significantly expands our differentiated offerings, allowing us to more meaningfully contribute to the sustainability of the nation’s critical power infrastructure and the broader energy transition,” said Dr. Hisham Mahmoud, Chairman and CEO of Qualus. “We are honored to join forces with Dr. Ali Vojdani and the GridBright team. From our first meeting, it was clear that we share common values, cultures, a focus on quality and innovation, a passion to solve the complex challenges facing the power industry, and a commitment to continue to build a best-in-class environment for our people.”

Qualus is a leading power consulting, engineering, and technical services firm that partners with utility, commercial, industrial, and government clients across the U.S. to provide end-to-end services and robust solutions to increasingly complex power infrastructure challenges. The firm plays a vital role in the modernization of the electric power infrastructure, decarbonization of the economy, and the broader energy transition. Learn more at www.qualuscorp.com.

The expert investment banking professionals on Capstone Partners’ Energy, Power & Infrastructure Team work with leading middle market companies operating in the grid integration market to advise with their strategic decision-making in order to maximize financial outcomes at every stage of the business lifecycle. Our firm has developed a full suite of corporate finance solutions, including M&A advisory, debt advisory, financial advisory, and equity capital financing to help privately owned businesses and private equity firms address any need, ranging from growth and financial or operational advisement to an ultimate exit transaction. To learn more about this transaction, or about the benefits of starting a relationship with our Energy, Power & Infrastructure Banking Team, contact us here.