Northleaf Capital Partners has acquired a majority stake in Provident Energy Management, a provider of submetering and building automation services. Financial terms of the transaction were not disclosed.
Provident generates substantial energy savings through individual utility metering and billing, building automation system installations and monitoring, and energy-consulting services in the markets in which it operates. It is predominantly focused on the multi-residential new construction market and aims to expand its services throughout the United States and Canada.
Provident also will continue its longstanding commercial relationship with OZZ Electric, the largest multi-residential electrical contractor in Canada, to foster growth.
“We're delighted to partner with Provident and its management team to build upon the company’s strong track record of providing customers an essential service that promotes energy efficiency,” said Jared Waldron, managing dir