Comverge Receives $16.0M Financing from Triangle Capital
The investment consists of subordinated debt and equity.
Founded in 1980 and led by R. Blake Young, President, Chief Executive Officer, Comverge provides utilities, grid operators, and commercial and industrial organizations with a suite of intelligent energy management solutions to optimize energy usage.
The company, which has offices in Broomfield, CO, East Hanover, NJ, and Kennett Square, PA, employes 550 people.
Customers include more than 500 utility and 2,100 commercial customers. This includes PHI, PECO, PG&E and Southern California Edison as well as strategic C&I customers including Barnes & Noble, Footlocker, Kendall Crosslands, and Purina.
Triangle is a provider of capital to lower middle market companies located throughout the United States.