Amber Infrastructure Group (‘Amber’) and Hunt Companies (‘Hunt’) are pleased to announce that they have acquired a majority interest in City Light & Power (‘CLP’). CLP is an electrical contractor and owner of utility systems specialising in the provision of services to the U.S. military under utility privatisation (‘UP’) contracts. The investment marks the continued growth of Hunt and Amber’s investment portfolio in the United States.
Amber and Hunt have acquired their interest in CLP from existing shareholders and the management team. The existing management team continue to own a minority interest in CLP. Hunt and Amber funded the investment with their combined cash reserves.
CLP currently owns nine utility systems as well as two municipal public-private partnership (‘PPP’ or ‘P3’) contracts for the cities of Long Beach and Lakewood, CA.
Gavin Tait, CEO of Amber Infrastructure, said: “We are delighted to announce this strategically significant transaction, which evidences Amber’s enhanced focus on North America. Amber continues to grow its presence in the region and looks forward to the additional attractive investment opportunities that our partnership with CLP will provide.”
Tom Simmons, Co-President of City Light & Power, said: “We are extremely excited to begin this partnership with Hunt/Amber. They are very much aligned with how we at CLP operate as a family/team effort on all fronts to take care of our customers.”
Bill Simmons, Co-President of City Light & Power, said: “This is fantastic and we couldn’t think of a better partner than Hunt/Amber to continue our current and future business plans. We look forward to taking this company to the next level.”
For further information:
Amber Fund Management Limited
+44 (0)20 7939 0558
Amber Infrastructure Group
Amber Infrastructure (‘Amber’) is a specialist international investment manager, focused on investment origination, asset management and fund management. With over £8 billion of assets managed, Amber invests in eight countries internationally across six funds and a number of managed accounts. Amber’s core business focuses on sourcing, developing, advising, investing in and managing infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors that support the lives of people, homes and businesses internationally.
Amber is headquartered in London with offices in Europe, North America and Australia and employs approximately 125 infrastructure professionals.
About Hunt Companies:
Hunt, based in El Paso, Texas, is a diversified, family-owned holding company that invests in operating businesses, real estate assets and infrastructure assets. Since its founding in 1947, Hunt's size and scope have grown substantially while gaining considerable expertise across multiple real asset sectors. Hunt's reputation is built on integrity and performance. Hunt is committed to a culture of transparency for employees, clients, investors, and the communities it serves. Hunt and its affiliates employ over 3,000 employees across the United States and Europe. Learn more at www.huntcompanies.com.
About City Light & Power
City Light & Power, Inc. (‘CLP’) is at the forefront of today’s electricity utility industry. CLP owns, operates and maintains the electrical distribution systems for military bases around the United States with the primary focus being the lease or ownership of utility infrastructure systems. Its partnerships with the Federal Government and Municipalities’ stretch across the United States. CLP are committed to providing the highest quality of service to its customers to deliver prompt and efficient services whilst still exceeding its customer expectations.