DIF Capital Partners has completed the acquisition of the US’s largest privately owned energy-as-a-service firm Bernhard.
In October this year, DIF announced that it was going to pick up the, which will retain a “meaningful ownership position” under the deal.
At the time, Ed Tinsley, the chief executive of Bernhard, said it was “excited to join forces with DIF given its extensive experience with public-private partnerships” and energy projects.
Earlier this year, DIF received strong backing from investors as it exceeded fundraising targets on funds that look to capitalise on projects across the energy and P3 sectors.
Berhard will be acquired by the DIF Infrastructure VI fund, which raised $500m over its $2.5bn target last year.
JPMorgan and Kirkland & Ellis advised Bernhard on the transaction.