ARLINGTON, Va., Jan. 17, 2024 /PRNewswire/ — GEF Capital Partners (“GEF Capital”), a Washington, D.C. based sustainability-focused private equity firm, announced today that it has completed an investment in Next Step Energy Solutions (“NSES” or the “Company”), a leading provider of turnkey LED lighting system retrofit solutions. NSES’ solutions create material energy efficiency and cost savings for its customers. GEF Capital’s investment in NSES will enable the Company to expand its customer base and geographic reach across the United States to meet the growing demand for comprehensive energy efficiency solutions.
NSES’ innovative system for delivering energy efficient lighting solutions enables its customers to reduce electricity usage and operations and maintenance expenses at their facilities, while also decreasing utility and operational costs. Owners and operators of healthcare facilities, commercial real estate assets, education campuses, hotels, and industrial operations rely on NSES to save on their energy and operating costs, while also doing so in a way that helps these customers reach their Net Zero carbon emissions targets.
“Collaborating with GEF Capital marks a transformative milestone for NSES,” acknowledged Chad Lembeck, NSES’ Founder and CEO. “As our clients relentlessly pursue returns on their operational investments, NSES remains at the forefront of ingenuity. GEF Capital’s investment is a catalyst, propelling us to scale and serve an ever-expanding customer base with tailored solutions for achieving energy efficiency and realizing cost-saving objectives. This new partnership is a win for our customers.”
“The team at Next Step Energy Solutions has built a high-quality and innovative business driving energy efficiency and cost savings for a wide range of critical customers,” said Stuart Barkoff, Managing Partner at GEF Capital, who led the NSES investment. “At a time when institutions are seeking to meet their operational needs while also progressing towards new initiatives such as Net Zero targets, NSES provides an affordable and effective set of solutions to make these goals a reality.”
Catherine Lien, a Principal at GEF Capital who co-led the investment added: “NSES focuses on excellence in customer care and project execution through their high touch, turnkey service-based approach. The Company’s solutions are increasingly critical to support energy efficiency initiatives and combat climate change. We look forward to working with the NSES team to expand these solutions to further meet market demand.”
GLC Advisors & Co. served as exclusive financial advisor to NSES.
About Next Step Energy Solutions:
Next Step Energy Solutions provides full-service, turnkey lighting-emitting diode (“LED”) lighting system retrofitting and tech-enabled energy efficiency services for owners and operators of real assets, focusing on the healthcare, hospitality, industrial, and commercial real estate sectors. Founded in 2011, NSES is headquartered in Littleton, CO. Visit https://www.nextstepenergysolutions.com/ for additional information.
About GEF Capital Partners:
GEF Capital Partners is a global private equity firm that that was established in March 2018 following a collaborative spinout from Global Environment Fund, an early pioneer in global sustainability and environmental investing. With offices in the United States, India and Brazil, and investments spanning the clean energy, energy efficiency, waste, water and resource efficiency sectors, GEF Capital invests in companies that have developed solutions to mitigate the effects of climate change and pollution. By partnering with management teams that operate in high-growth markets, GEF Capital brings a value-added approach to its investments to grow leading companies and ensure a more sustainable future. More is available at www.gefcapital.com.
FOR ADDITIONAL INFORMATION CONTACT:
Next Step Energy Solutions
GEF Capital Partners
SOURCE GEF Capital Partners