EL PASO, Texas, March 5, 2020 /PRNewswire/ -- Hunt Companies, Inc. ("Hunt"), together with Hunt's majority-owned affiliate, Amber Infrastructure ("Amber"), has acquired a majority interest in City Light & Power ("CLP"). CLP is an electrical contractor and owner of utility systems specializing in the provision of services to the U.S. military under utility privatization ("UP") contracts. The investment marks the continued growth of Hunt and Amber's investment portfolio in the United States.
Hunt and Amber have acquired their interest in CLP from existing shareholders and the management team. The existing management team will continue to own a minority interest in CLP. Hunt and Amber have funded the investment from their combined cash reserves.
CLP currently owns nine utility systems and operates two municipal public-private partnership ("PPP" or "P3") contracts for the cities of Long Beach and Lakewood, CA.
"This significant transaction demonstrates our continued investment in the P3 sector globally and the added value the combined Hunt and Amber platform will continue to deliver for investors," said Chris Hunt, CEO of Hunt. "We look forward to building on this success by developing additional primary pipeline opportunities through the newly formed relationship with CLP in the United States."
"We are extremely excited to begin this partnership with Hunt/Amber," said Tom Simmons, Co-President of CLP. "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 CLP, added: "We couldn't think of a better partner than Hunt/Amber to continue to execute on our current and future business plans."
Hunt Companies, Inc.
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.
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.
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.
View original content to download multimedia:http://www.prnewswire.com/news-releases/hunt-companies-and-amber-infrastructure-acquire-a-majority-stake-in-city-light--power-301018612.html
SOURCE Hunt Companies