FMI Capital Advisors, an investment banking firm dedicated to the built environment, has sold its majority stake in City Light & Power (CLP) to Hunt Companies and its affiliate, Amber Infrastructure Group. Financial terms were not disclosed.
CLP owns, operates and maintains the electrical distribution systems for the U.S. military under utility privatization contracts and operates public-private partnership contracts with municipalities.
CLP currently owns 10 utility systems across the United States and operates two public-private partnership contracts for cities in California.
Hunt and Amber have acquired their interest in CLP from existing shareholders. The existing management team will continue to own a minority interest in CLP.
