Global law firm White & Case LLP has advised I Squared Capital, a leading independent global infrastructure investment manager, on its entry into a definitive agreement to acquire Priority Power Management, LLC, an independent energy management services and infrastructure consulting firm, through I Squared’s ISQ Global Infrastructure Fund III.
I Squared’s investment will provide an opportunity for Priority Power to expand its reach across the United States, as well as make additional investments in high-growth markets.
With more than US$40 billion in assets under management, I Squared operates a diverse portfolio of 85 companies in 81 countries with more than 66,000 employees in a variety of sectors including utilities, energy, digital infrastructure, transport, environmental infrastructure and social infrastructure. I Squared is headquartered in Miami, with offices in Abu Dhabi, London, Munich, New Delhi, São Paulo, Singapore, Sydney and Taipei.
Priority Power provides energy management services and infrastructure solutions for commercial and industrial customers across more than 40 US states, helping businesses procure energy that meets their cost and sustainability goals. Founded in 2001 and headquartered in The Woodlands, Texas, Priority Power has developed more than US$900 million of private transmission and distribution infrastructure for its customers.
The White & Case team was led by M&A partner Hayden Baker (New York), and included M&A partner Luke Laumann, and associates Ty Akkoyun, Shirley Zhang, Chloe He, Matt Shafman (all in New York), Yves Bramwell and Muhammad Hasan (both in Houston); Tax partner Sang I. Ji and associate Adriana Zhan (both in New York); Employment, Compensation & Benefits partner Henrik Patel (New York), counsel Samantha Rozell and associate Anthony Vitucci (both in Chicago); Energy Regulatory partner Serena Rwejuna and associate Jackie Triggs (both in Washington, DC); Debt Finance partners Justin Wagstaff and Binoy Dharia, and associates Shana Vantusko and Luis Villanueva (all in New York); Project Development and Finance partners Raymond Azar and Raffaele Turco, and associates Mazin Elhag (all in New York) and Lane Ransom (Houston); Technology Transactions partner Erin Hanson (New York) and associate Emily Ostertag Whittle (Washington, DC); Antitrust partner Heather Greenfield, and associates Gabriela Baca (both in Washington, DC) and Cassandra Calderon (New York); and Real Estate partner Jason McCoy and associate Teddy Miller (both in Houston). International law clerk Catherine Gu and law clerk Clarissa Lotson also assisted on the matter.
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