Tiger Infrastructure Partners Acquires Microgrid Provider Unison Energy
Unison Energy, LLC, a turnkey microgrid provider headquartered in Greenwich, Connecticut, announced on June 17, 2024, its acquisition by Tiger Infrastructure Partners, a middle market growth infrastructure investor. The acquisition expands Tiger's energy transition portfolio and represents the final platform investment from its Fund III, which closed at $1.25 billion in early 2022. Unison designs, builds, owns, and operates microgrids for commercial and industrial customers across North America, with approximately 30 projects in operation or under signed Energy Service Agreements.
GREENWICH, Conn. — Unison Energy, LLC, a turnkey microgrid provider, has been acquired by Tiger Infrastructure Partners, an innovative middle market growth infrastructure investor, the companies announced on June 17, 2024. The transaction expands Tiger's portfolio of investments in energy transition, one of the firm's three sectors of focus.
Unison's Business and Market Position
Unison designs, builds, owns, and operates microgrids on-site at customer locations, providing behind-the-meter solutions that include comprehensive power, heating, and cooling. The company's offerings enable cost savings, reduce carbon footprint, and ensure energy resiliency with no capital outlay for the customer. Unison currently owns and operates approximately 30 projects—including those in operation and those with signed Energy Service Agreements—across essential end-markets such as hospitals, data centers, hospitality, food and beverage, biofuels, and other industrials. The company focuses on markets with resiliency challenges and/or elevated power prices across North America.
Executive Commentary
Unison Co-Founder and Co-CEO Andy Cooper said, "Unison provides tailored solutions for commercial and industrial businesses seeking to address rising energy costs, power resiliency challenges, and carbon emissions reductions. We leverage our proprietary systems and in-house engineering and operation & maintenance expertise to play a critical role in power generation and decarbonization. We have been expanding our offering to include on-site carbon capture and other in-demand solutions. We believe Unison is well-positioned to become the partner of choice for customers seeking a reliable, long-term solution to reduce cost, enhance resiliency, and decarbonize operations."
Unison Co-Founder and Co-CEO Tim Lukes remarked, "We knew the Tiger team prior to this transaction and during this process confirmed their deep experience in energy transition, experience with similar business models, and track record of partnering with teams to build and scale platforms. As a result, we determined that Tiger would be the ideal partner. We are excited to provide creative solutions to our customers with the support of Tiger."
Tiger CEO Emil W. Henry, Jr. said, "The role of reliable, resilient, on-site power generation is becoming increasingly sought after as the global energy transition continues apace. We believe that Unison is benefiting from long-term secular tailwinds including an aging grid that is increasingly burdened by the growth of renewable energy and a demonstrable step-change in demand for power driven by artificial intelligence and a drive towards onshoring certain elements of US manufacturing. We are excited to partner with the Unison team to support the Company in its next phase of growth and capitalize on the strong and growing demand for access to more dependable, consistent, cost-effective and lower-carbon power."
Transaction Details
Unison is the final platform investment for Tiger Infrastructure Partners Fund III, which closed at its hard cap of $1.25 billion in early 2022 and has previously made eight platform investments.
About Unison Energy
Unison Energy, LLC provides turnkey energy solutions underpinned by long-term fixed price contracts with investment grade counterparties and no commodity exposure. The Company designs, builds, owns, and operates microgrids on-site for hospitals, data centers, hospitality, food and beverage, biofuels, and other industrial customers in North America. Unison is headquartered in Greenwich, CT. For more information, please visit www.unisonenergy.com.
About Tiger Infrastructure Partners
Tiger Infrastructure Partners is an innovative private equity firm focused on providing transformational growth capital to middle market infrastructure companies. Tiger's value-add approach targets growth investments across the Digital Infrastructure, Energy Transition, and Transportation sectors in North America and Europe, where Tiger believes strong tailwinds are driving demand for new infrastructure. Tiger maintains offices in New York and London. For more information, visit www.tigerinfrastructure.com/.
Media Gallery
Unison's Inhouse EPC team oversees the project design, construction, and commissioning.
Unison's 4MW CHP-based microgrid at the Gaylord Rockies Hotel & Convention Center. Unison customizes every microgrid design based on client goals, using a variety of onsite generation technologies.
Using an Energy-as-a-Service model, Unison continues to own and operate its microgrids; the asset remains on Unison's balance sheet and retains all operational risks.
Unison's 3.2MW microgrid at TidalHealth Peninsula Regional Hospital in Salisbury, MD.