Stonepeak and Bernhard Capital Partners have plans to acquire Cleco Group from a consortium comprising Macquarie Asset Management, British Columbia Investment Management Corporation (BCI) and Manulife Investment Management.
Headquartered in Pineville, La., Cleco is a regulated electric utility with 1,200 dedicated employees serving approximately 298,000 residential, commercial and industrial customers in 24 Louisiana parishes.
This transaction will bring investors with deep access to capital, industry expertise and a local presence to support Cleco, a utility in operation for more than 90 years, in continuing to provide safe, reliable service to its customers. The strategic partnership and acquisition also will further Cleco’s position as a critical energy service provider and economic development engine across its service territory and the state of Louisiana.
“This investment advances Bernhard Capital Partners’ focus on strengthening the nation’s critic
