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HOME : IN
THE NEWS : PRESS RELEASE
09.07.07
Summit Energy Partners with Weston Presidio
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Summit Energy Services, Inc. announced today that Weston Presidio,
a leading private equity firm, has made a strategic investment into
the company. Based in Louisville, Kentucky, Summit Energy is a global
provider of energy management services. The privately held company,
founded in 1991, provides risk management, energy procurement and
sustainability services to more than 150 large industrial and commercial
clients, managing more than $13 billion in annual energy spend.
This partnership will allow Summit Energy to continue to expand their
suite of services to their multi-national customer base. As part of
the transaction, Summit is also pleased to announce the addition of
two Weston Presidio Partners to its board of directors – Mr.
Chip Baird and Mr. Mark Bono.
Regarding the investment, President and
CEO, Steve Wilhite commented, “We have experienced solid growth
in recent years, which we believe validates our business model and
approach to serving our clients. As a result, we plan to continue
expanding both our geographic footprint and service capabilities,
and we are confident that the financial involvement and experience
of Weston Presidio will help spur that growth.”
Weston Presidio Partner Chip Baird added, “We are excited to
partner with Summit. The company’s strong track record and excellent
leadership team were key factors in our
decision to help support the future growth of the company. We look
forward to helping Summit continue
to build on a proud tradition of innovation
in the energy services sector.”
About Summit Energy
Summit Energy is a pioneering provider of energy management services
for business and industry. Summit’s clients operate in industries
ranging from aerospace and automotive to government, chemical, food
manufacturing, pharmaceuticals, healthcare and others. Its growing
staff of more than 250 energy professionals is headquartered in Louisville,
Kentucky, with additional offices in Houston and Dallas, Texas, Mexico,
Belgium, Italy, France, Germany and The Netherlands. For more information,
visit www.summitenergy.com.
About Weston Presidio
Weston Presidio, formed in 1991, provides growth capital to companies
with exceptional management teams across
a wide range of industries. The firm has
offices in San Francisco, Boston and Menlo Park, and
it invests in companies throughout the
United States. Weston Presidio has raised
over $3.3 billion in capital through five investment funds
and provided capital to over 300 leading growth
companies. www.westonpresidio.com
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