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AM Conservation Group Announces Acquisition by Kohlberg & Company

CHARLESTON, SC (March 27, 2015) – AM Conservation Group, the nation’s leader in energy and water efficiency programs, products and services, recently announced the company’s acquisition by funds managed by Kohlberg & Company, L.L.C., a leading private equity firm based in Mount Kisco, New York.

Established in 1989, AM Conservation Group is a leading integrated provider of energy efficiency services and products to customers across multiple channels including public utilities, city municipalities, energy efficiency contractors and distributors.

“We are thrilled to team up with Kohlberg & Company,” said Todd Recknagel, CEO of AM Conservation. “They have the outstanding track record, capital and resources to propel AM Conservation Group’s service offerings and clientele to new levels. Many members of our management team are investing side by side with Kohlberg and are committed to AM Conservation Group’s future success.” The transaction with Kohlberg & Company and increased capital base will allow the company to further invest in new strategic initiatives.

“We see tremendous growth opportunities with AM Conservation Group,” said Benjamin Mao, Partner at Kohlberg & Company. “Energy efficiency and water conservation are forefront issues that demand attention and investment. AM Conservation Group has been an industry leader focused on these sectors for years, and we look forward to partnering with AM Conservation Group toward continued growth.”

Piper Jaffray acted as financial advisor to AM Conservation Group, and Akerman acted as legal advisor. Paul, Weiss, Rifkind, Wharton & Garrison acted as legal advisors to Kohlberg & Company. GE Antares Capital, Fifth Third Bank, and Metropolitan Life Insurance Company provided credit financing.

ABOUT AM CONSERVATION GROUP, INC.
Established in 1989, AM Conservation Group, Inc. is a leading provider of products and services to utilities and municipalities. Founded on principles of customer service and energy conservation, AM Conservation Group provides each and every client with personalized service, attention to detail and appreciation of individual business needs to ensure objectives and ultimate satisfaction are met. AM Conservation Group develops, manufactures and distributes professional-grade products for the conservation industry, including energy efficient lighting like LEDs, weatherization products, water saving showerheads, faucet aerators and toilet tank devices as well as managing utility program services. Since its inception, AM Conservation Group has supplied some of the largest and most successful conservation programs in U.S. history with utility companies, government agencies, and municipalities. For more information: www.amconservationgroup.com.

ABOUT KOHLBERG & COMPANY, L.L.C.
Kohlberg & Company, L.L.C. is a leading private equity firm specializing in middle market investing. Since its inception in 1987, Kohlberg has organized seven private equity funds, through which it has raised over $5 billion of committed equity capital. Over its 27-year history, Kohlberg has completed 64 platform investments and well over 100 add-on acquisitions, with an aggregate transaction value of approximately $10 billion. For more information, visit www.kohlberg.com.

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