Key Takeaways
- • Clearlake Capital Group has completed its acquisition of Qualus Corporation from New Mountain Capital, establishing Clearlake as the controlling investor in a pure-play power infrastructure solutions platform.
- • Qualus operates as an integrated electric grid modernization and power solutions provider serving major investor-owned utilities and commercial/industrial clients across the U.S. and Canada, with capabilities spanning advisory, engineering, digital solutions, and field services.
- • The transaction was supported by a financing consortium including Apollo, Goldman Sachs Alternatives, and Clearlake as joint lead arrangers, signaling strong capital market confidence in the power infrastructure transformation thesis.
- • Financial terms were not disclosed; the acquisition positions Clearlake to capitalize on accelerating grid modernization investments driven by electrification of the economy and rising electricity demand across North America.
- • A roster of top-tier advisors managed the transaction: AEC Advisors and Harris Williams advised Qualus and New Mountain Capital, while Goldman Sachs, Houlihan Lokey, Perella Weinberg Partners, and Stifel advised Clearlake on the buyer side.
Summary
Clearlake Capital Group has completed its acquisition of Qualus Corporation, a Florida-based power infrastructure solutions provider, from New Mountain Capital. The transaction represents Clearlake's entry into the grid modernization and electric power solutions space at a critical juncture for North American utility infrastructure investment. While deal valuation was not disclosed, the transaction underscores continued institutional investor appetite for platforms positioned to benefit from the electrification of the U.S. and Canadian economies.
Qualus operates as a pure-play power solutions platform delivering integrated services across the full power infrastructure lifecycle. The company's business model encompasses front-end advisory and planning, engineering design, technical program management, digital solutions, energy efficiency services, and specialized field operations. Its customer base includes the nation's largest investor-owned utilities alongside commercial, industrial, and high-tech enterprises. The platform is particularly focused on three strategic priorities: grid modernization, system resiliency and security, and sustainability—all critical imperatives as utilities manage increasing demand complexity and infrastructure aging.
The financing structure reflects confidence from marquee alternative capital providers. Apollo, Goldman Sachs Alternatives, and Clearlake jointly arranged financing for the transaction, indicating substantial institutional backing for the acquisition thesis. Legal counsel was divided between Simpson Thacher & Bartlett (representing Qualus and New Mountain Capital) and Wachtell, Lipton, Rosen & Katz (representing Clearlake). Financial advisory was led by AEC Advisors and Harris Williams on the seller side, with Goldman Sachs, Houlihan Lokey, Perella Weinberg Partners, and Stifel advising Clearlake.
The acquisition aligns with Clearlake's broader infrastructure and industrial technology investment thesis at a time when utilities are accelerating capital expenditures for grid modernization and electrification-related infrastructure. Qualus's market positioning in a secular growth category—driven by regulatory pressure, aging infrastructure replacement cycles, and rising electricity consumption from EV adoption and data centers—provides Clearlake with a platform vehicle to participate in multi-year infrastructure transformation trends across regulated and commercial utility segments.
Qualus operates as a pure-play power solutions platform delivering integrated services across the full power infrastructure lifecycle. The company's business model encompasses front-end advisory and planning, engineering design, technical program management, digital solutions, energy efficiency services, and specialized field operations. Its customer base includes the nation's largest investor-owned utilities alongside commercial, industrial, and high-tech enterprises. The platform is particularly focused on three strategic priorities: grid modernization, system resiliency and security, and sustainability—all critical imperatives as utilities manage increasing demand complexity and infrastructure aging.
The financing structure reflects confidence from marquee alternative capital providers. Apollo, Goldman Sachs Alternatives, and Clearlake jointly arranged financing for the transaction, indicating substantial institutional backing for the acquisition thesis. Legal counsel was divided between Simpson Thacher & Bartlett (representing Qualus and New Mountain Capital) and Wachtell, Lipton, Rosen & Katz (representing Clearlake). Financial advisory was led by AEC Advisors and Harris Williams on the seller side, with Goldman Sachs, Houlihan Lokey, Perella Weinberg Partners, and Stifel advising Clearlake.
The acquisition aligns with Clearlake's broader infrastructure and industrial technology investment thesis at a time when utilities are accelerating capital expenditures for grid modernization and electrification-related infrastructure. Qualus's market positioning in a secular growth category—driven by regulatory pressure, aging infrastructure replacement cycles, and rising electricity consumption from EV adoption and data centers—provides Clearlake with a platform vehicle to participate in multi-year infrastructure transformation trends across regulated and commercial utility segments.
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