Hunt Cos. and Amber Infrastructure have acquired their interest in City Light & Power (CLP) from existing shareholders and the management team. The existing management team will continue to own a minority interest in CLP. Hunt and Amber have funded the investment from their combined cash reserves.
CLP currently owns nine utility systems and operates two municipal public-private partnership contracts for the cities of Long Beach, Calif., and Lakewood, Calif.
"This significant transaction demonstrates our continued investment in the P3 sector globally and the added value the combined Hunt and Amber platform will continue to deliver for investors," said Chris Hunt, CEO of Hunt. "We look forward to building on this success by developing additional primary pipeline opportunities through the newly formed relationship with CLP in the United States."
