Boyne Capital is pleased to announce that it has partnered with management to acquire Pilot Power Group , a provider of electric utility b****** & data management services, energy portfolio management, and energy procurement strategies for community choice aggregation (CCA), commercial, and industrial customers in the Western U.S.
Headquartered in San Diego, CA, Pilot offers clients custom tailored services that can lower utility costs, reduce commodity price-related risks, and provide greater procurement flexibility than utility-based suppliers or traditional electricity retailers. When assisting customers, Pilot acts as an independent energy advisor, ensuring customers obtain the energy supply best suited to their needs. To assist with regulatory compliance and aid in procurement decision making, Pilot provides data analytics to support b******, consumption targeting, new energy purchase program evaluation, and existing program monitoring.
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Boyne Managing Partner and CEO, Derek McDowell, said, “Throughout its 20-year history, Pilot has proven itself a utility sector thought leader by successfully creating custom-designed cost saving programs for large-scale electricity consumers and aggregators. The Company offers turnkey solutions to its customers that provide a level of transparency uncommon in the complex world of electricity procurement and resource planning. We are honored that the senior executive team chose to partner with Boyne, and we are encouraged by the growth opportunities we see for this platform.”
Ian Middleton, Pilot Founder and COO, said, “Boyne brings institutional capital access to Pilot, allowing us to enhance our product offering and further develop our software suite. We’re preparing for investment in organic growth initiatives and strategic M&A. What’s more, we share Boyne’s core principles of collaboration and integrity, qualities our clients value most. We’re very excited for what this partnership has in store for Pilot.”
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Denis Vermette, President of Pilot, said that, “Since joining Pilot Power Group four years ago, it’s been my aim to accelerate growth. This partnership is a significant step in expanding our operations into new territories and bringing new clients into our portfolio.”
Pilot Power Group represents the most recent platform investment in BCM Fund I. Boyne Capital is dedicated to investing in the lower middle market sector, specifically companies with revenues of less than $100 million and EBITDA of $2 million to $10 million.
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