SER Capital Partners, a sustainable investment focused private equity firm, has committed $82M to invest in and grow Brightcore Energy, a clean energy & efficiency as a service company serving commercial, industrial, and institutional real estate owners. SER’s investment will significantly expand Brightcore’s balance sheet and its ability to implement, finance, invest in, and acquire a broad range of clean energy projects and solutions, thereby enabling its customers to reduce operating costs and mitigate their environmental footprint at no upfront expense.
“We’re excited to partner with a strong team that is led by Co-CEOs Rob Krugel, Konstantin Braun and President Mike Richter and that has already completed more than 150 clean energy and efficiency projects for its customers. Commercial, industrial, and municipal demand for clean energy and efficiency is growing exponentially. With SER as a partner, Brightcore now has an enhanced ability to provide competitive financing solutions for customers. We’re eager to see Brightcore accelerate deployment of its solar, LED lighting, HVAC (including geothermal), and other product offerings. Brightcore’s ability to implement and finance a holistic sustainability solution for its customers is highly differentiated and value-additive,” noted Rhem Wooten, Partner of SER.
Rob Krugel, Co-CEO of Brightcore, added: “We are excited to partner with SER, who brings significant experience in the efficiency and sustainability sectors and is fully aligned with our business and mission. This transaction positions us well to meet the significant customer demand for energy efficiency and distributed infrastructure projects at the state and local levels. With a significant balance sheet, combined with our intellectual capital and extensive experience, Brightcore is extremely well positioned to provide economic benefits for customers while decarbonizing their operations.”
Rahul Advani, Managing Partner of SER, commented: “We are excited to welcome Brightcore into SER’s portfolio of businesses. Our portfolio companies are leading the sustainable industrial revolution and reducing overall carbon emissions by installing solar, storage and energy efficiency projects where and when customers need them most. And we see a tremendous market need for Brightcore’s clean energy and efficiency services for customers.”
Metric Point Capital acted as the exclusive placement agent for the fundraise.
Brightcore Energy is a provider of end-to-end clean energy solutions to the commercial and institutional market, including commercial and community solar, high-efficiency renewable heating and cooling (geothermal), LED lighting and controls, electric vehicle (EV) charging, battery storage, smart building solutions and other emerging technologies. Brightcore Energy accelerates the deployment of a wide range of energy-efficiency and renewable energy technologies through its innovative Efficiency-as-a-Service (EaaS) model that requires no capital investment and provides for immediate operating cost savings, making it affordable and seamless for businesses and institutional buildings to quickly and easily transition their legacy energy platforms to significantly more efficient ones.
About SER Capital Partners
SER Capital Partners is an independent, middle-market private equity firm dedicated to investing in North America’s sustainable industrial, environmental, and renewable businesses. Over the past two decades, its team members have amassed successful experience in its targeted sectors as private equity investors and senior executives at both private and public businesses. The firm’s strategy is to create attractive investments while also authentically measuring and improving sustainability. SER team members are also committed to aligning interests across its investors, team members, portfolio companies, and communities. More is available at www.sercapitalpartners.com.
About Metric Point Capital (Member FINRA and SIPC)
Metric Point Capital (“Metric Point”) is a capital advisory firm specializing in raising institutional capital for alternative investment managers. Fund assignments include buyout, growth equity, real estate, and real asset strategies. Metric Point also advises on all aspects of liquidity needs across GP-led transactions, secondaries, directs, and co-investments. The firm has professionals located in New York, Stamford, Chicago, Los Angeles, and Austin.