Key Takeaways
- • Levine Leichtman Capital Partners (LLCP), a Los Angeles-based private equity firm, completed a growth investment in Concentric Energy Advisors in partnership with management; financial terms were not disclosed.
- • Concentric is a Marlborough, Massachusetts-based consulting firm founded in 2002 that advises electric, gas, and water utilities on rate cases, regulatory proceedings, cost of capital, and related services.
- • The investment is the 11th platform investment in LLCP Lower Middle Market Fund III, L.P.
- • Existing leadership, including CEO Danielle Powers, President Dan Dane, and Founder and Chairman John J. Reed, will continue to lead the company, and employees will retain a substantial ownership stake.
- • LLCP cites utility grid modernization investment at record levels and rising power demand as long-term tailwinds for the business.
Summary
Levine Leichtman Capital Partners ("LLCP"), a Los Angeles-based private equity firm, announced that it has completed a growth investment in Concentric Energy Advisors ("Concentric"), in partnership with management, according to a PR Newswire release. Financial terms of the transaction were not disclosed.
Founded in 2002 and headquartered in Marlborough, Massachusetts, Concentric is a consulting and advisory firm serving the North American utility and energy industry. The company provides expert advice, technical analysis, and testimony to electric, gas, and water utilities and infrastructure investors, with particular expertise in utility rate cases and regulatory proceedings. Its services span cost of capital, return on equity, revenue requirement, cost of service and rate design, depreciation, transaction and financing support, and regulatory strategy.
Matthew Rich, Partner at LLCP, said the firm sees opportunities to build on Concentric's foundation by expanding into adjacent utility service areas, recruiting additional senior talent, and pursuing strategic acquisitions. Ted Jeon, Managing Director at LLCP, said the investment aligns with the firm's experience in infrastructure services and expert consulting, noting that utilities are investing at record levels to modernize and expand the electric grid to meet rising power demand and rely on independent advisors to navigate regulatory processes.
Concentric will continue to be led by its existing executive team, including CEO Danielle Powers, President Dan Dane, and Founder and Chairman John J. Reed. Employees will retain a substantial ownership stake. Reed said the partnership was chosen for its understanding of the company's people, culture, and client trust, and that clients will continue to work with the same teams.
The deal is the 11th platform investment in LLCP Lower Middle Market Fund III, L.P. Across its funds, LLCP has invested in infrastructure services and expert consulting businesses including USA Water, Resolution Economics, All4, Encore Fire Protection, and Trinity Consultants. LLCP was advised by Honigman LLP, and Concentric was advised by Seyfarth Shaw LLP. Per the release, LLCP manages $15.0 billion in assets across nearly 20 funds and has invested in approximately 120 portfolio companies since inception.
Founded in 2002 and headquartered in Marlborough, Massachusetts, Concentric is a consulting and advisory firm serving the North American utility and energy industry. The company provides expert advice, technical analysis, and testimony to electric, gas, and water utilities and infrastructure investors, with particular expertise in utility rate cases and regulatory proceedings. Its services span cost of capital, return on equity, revenue requirement, cost of service and rate design, depreciation, transaction and financing support, and regulatory strategy.
Matthew Rich, Partner at LLCP, said the firm sees opportunities to build on Concentric's foundation by expanding into adjacent utility service areas, recruiting additional senior talent, and pursuing strategic acquisitions. Ted Jeon, Managing Director at LLCP, said the investment aligns with the firm's experience in infrastructure services and expert consulting, noting that utilities are investing at record levels to modernize and expand the electric grid to meet rising power demand and rely on independent advisors to navigate regulatory processes.
Concentric will continue to be led by its existing executive team, including CEO Danielle Powers, President Dan Dane, and Founder and Chairman John J. Reed. Employees will retain a substantial ownership stake. Reed said the partnership was chosen for its understanding of the company's people, culture, and client trust, and that clients will continue to work with the same teams.
The deal is the 11th platform investment in LLCP Lower Middle Market Fund III, L.P. Across its funds, LLCP has invested in infrastructure services and expert consulting businesses including USA Water, Resolution Economics, All4, Encore Fire Protection, and Trinity Consultants. LLCP was advised by Honigman LLP, and Concentric was advised by Seyfarth Shaw LLP. Per the release, LLCP manages $15.0 billion in assets across nearly 20 funds and has invested in approximately 120 portfolio companies since inception.
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