PRESS RELEASE
September 28, 2016 – Lighting Retrofit International, LLC (“LRI” or the “Company”) announced today a strategic investment by DFW Capital Partners (“DFW”). LRI is a portfolio company of Arborview Capital (“Arborview”), which previously invested into LRI in 2010.
“Over the past six years, LRI has had a strong partnership with Arborview Capital and experienced tremendous growth,” said Stephen J. Troese, Jr., CEO and Co-founder of LRI. “We are excited about adding a new strategic partner, DFW Capital Partners, and executing the next phase of our growth initiatives where we will continue to drive significant energy and water savings and efficiencies.”
Joseph Lipscomb, a partner at Arborview Capital commented, “LRI is a remarkable firm, committed to innovation and superb customer service. Partnering with Steve and the LRI team has been a great experience, which has served our investors well. We are excited to be a part of LRI’s continued growth and we look forward to working together with DFW.”
LRI, based outside of Annapolis, MD, is a leading provider of comprehensive services for energy and water efficiency projects. The Company’s blue-chip clients include both energy service companies (ESCOs) and utilities. LRI’s clients rely on the Company for design, engineering, project management, analysis and monitoring for energy efficiency projects primarily in the Federal and MUSH (Municipalities, Universities, Schools and Hospitals) markets. LRI offers turnkey solutions and rapid implementation of cutting edge energy and water saving technologies that provide immediate and meaningful savings for facility owners. LRI has completed over 650 projects throughout the United States and internationally since its’ founding and has helped its clients save millions in kWh and billions of gallons of water.
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About Arborview Capital
Arborview Capital is a growth equity and venture capital firm that makes investments in impact-focused companies across the energy efficiency, resource efficiency and sustainability sectors. Arborview’s principals have significant experience partnering with exceptional management teams to build best-of-breed businesses in high growth industries. Arborview is headquartered in Chevy Chase, Maryland.
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW has established a 20+ year track record of success in both building leading companies and recognizing outstanding returns for its investors. DFW is headquartered in Teaneck, New Jersey and maintains an office in Chevy Chase, Maryland.
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