Key Takeaways
- • Clearlake Capital Group completed its acquisition of Qualus Corporation from previous owner New Mountain Capital, with financial terms undisclosed, marking a significant consolidation in the power infrastructure services sector.
- • Qualus operates as a pure-play, end-to-end electric power solutions platform delivering advisory, engineering, technical program management, digital solutions, energy efficiency, and field services across the full infrastructure lifecycle for utilities and commercial clients.
- • The acquisition positions Clearlake to capitalize on grid modernization trends and rising electricity demand driven by economic electrification, with Qualus serving a blue-chip customer base of major investor-owned utilities across the U.S. and Canada.
- • A consortium of major financial institutions facilitated the transaction, including Apollo, Goldman Sachs Alternatives, and Clearlake as joint lead arrangers on financing, with Simpson Thacher & Bartlett and Wachtell, Lipton, Rosen & Katz providing legal counsel.
Summary
Clearlake Capital Group has completed its acquisition of Qualus Corporation, a leading power infrastructure solutions platform, from existing investor New Mountain Capital. The transaction reflects heightened investor interest in critical infrastructure modernization, particularly in electric grid services where demand is accelerating due to widespread electrification initiatives across North America.
Qualus operates as an integrated platform delivering a comprehensive suite of services spanning advisory and planning, engineering, technical program management, digital solutions, energy efficiency, and specialized field services. The company serves a marquee customer base of major investor-owned utilities alongside commercial, industrial, and high-tech clients across the U.S. and Canada. Its core positioning centers on helping utilities modernize aging grid infrastructure, manage system complexity, enhance grid resiliency, and address rising electricity demand stemming from broader economic electrification trends.
The transaction was supported by a substantial advisory and financing infrastructure. AEC Advisors and Harris Williams served as financial advisors to Qualus and New Mountain Capital, while Goldman Sachs, Houlihan Lokey, Perella Weinberg Partners, and Stifel advised Clearlake. Simpson Thacher & Bartlett and Wachtell, Lipton, Rosen & Katz provided legal counsel to the seller and buyer respectively. On the financing side, Apollo, Goldman Sachs Alternatives, and Clearlake functioned as joint lead arrangers, underscoring the capital intensity and institutional focus of the deal. While financial terms were not disclosed, the assembly of top-tier advisors and lenders signals a material transaction within infrastructure services.
For Clearlake, the acquisition represents a strategic entry into power infrastructure modernization at a pivotal moment when utilities face mounting pressure to upgrade systems amid surging electrification demand and regulatory emphasis on grid resilience and sustainability.
Qualus operates as an integrated platform delivering a comprehensive suite of services spanning advisory and planning, engineering, technical program management, digital solutions, energy efficiency, and specialized field services. The company serves a marquee customer base of major investor-owned utilities alongside commercial, industrial, and high-tech clients across the U.S. and Canada. Its core positioning centers on helping utilities modernize aging grid infrastructure, manage system complexity, enhance grid resiliency, and address rising electricity demand stemming from broader economic electrification trends.
The transaction was supported by a substantial advisory and financing infrastructure. AEC Advisors and Harris Williams served as financial advisors to Qualus and New Mountain Capital, while Goldman Sachs, Houlihan Lokey, Perella Weinberg Partners, and Stifel advised Clearlake. Simpson Thacher & Bartlett and Wachtell, Lipton, Rosen & Katz provided legal counsel to the seller and buyer respectively. On the financing side, Apollo, Goldman Sachs Alternatives, and Clearlake functioned as joint lead arrangers, underscoring the capital intensity and institutional focus of the deal. While financial terms were not disclosed, the assembly of top-tier advisors and lenders signals a material transaction within infrastructure services.
For Clearlake, the acquisition represents a strategic entry into power infrastructure modernization at a pivotal moment when utilities face mounting pressure to upgrade systems amid surging electrification demand and regulatory emphasis on grid resilience and sustainability.
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