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AM Conservation showers 4x return on Trivest

Target: AM Conservation Group Inc

Sponsor: Kohlberg & Co

Seller: Trivest Partners

Financial Advisor: Piper Jaffray

Legal Counsel: Akerman LLP

After teaming up with AM Conservation’s founder to purchase the company in November 2010, Trivest beefed up the company’s sales and marketing, expanded its number of customers and integrated a large add-on acquisition of the energy and water conservation units of Niagara Conservation in 2013.

“The company achieved significant revenue and EBITDA growth during our ownership,” Trivest Managing Partner Troy Templeton said in a prepared statement. He also said CEO Todd Recknagel “did an excellent job of executing on the strategies identified early during our investment period as well as flawlessly integrating a sizeable acquisition.”

Founded in 1989 and based in Charleston, S.C., AM Conservation Group provides energy and water-saving products and related services aimed at the estimated $8.5 billion efficiency equipment market. It specializes in the development, manufacturing and distribution of more than 700 products, including LED light bulbs and custom shower heads.

Meanwhile on the acquisition front, Trivest last month said it invested an undisclosed sum in GetixHealth LLC, a provider of services and technologies to hospitals and physician groups for billing and collection services, part of revenue cycle management. Charles Bracken, the chief executive officer of 300-employee GetixHealth, will remain in his position as owner of a “significant” stake in the company.

The GetixHealth deal marked the sixth platform investment from Trivest Fund V,  the Miami firm’s $415 million fund that closed in 2012.