Charleston-based energy efficiency company acquired

Listen to this article

Abry Partners, a Boston-based private equity firm, has acquired majority ownership of Franklin Energy Group, which includes the Charleston-based AM Conservation Group.

AM Conservation Group, founded in 1989, manufactures and distributes energy efficiency and water conservation products for the utility industry. In 2016, AM Conservation Group merged with Wisconsin-based Franklin Energy Services to form Franklin Energy Group.

Abry Partners is purchasing majority ownership of Franklin Energy from Kohlberg & Co. LLC and other stockholders, according to a news release. The firm currently manages more than $5 billion of capital across its active funds.

J.D. Martin, principal at Abry Partners, said in the news release that the company was looking forward to working with Franklin Energy CEO Paul Schueller and AM Conservation Group President John Bailes.

“We have tremendous respect for what Franklin Energy has achieved under Kohlberg’s ownership and very much look forward to supporting this great organization’s strategic vision as it expands its market leadership by continuing to provide utility clients and their end-users exceptional value,” Martin said.