has been acquired by

Capstone Partners Advises Hunt Power on its Divestiture of E-MON

March 2007

Boston, MA - Hunt Power, L.P., a wholly-owned subsidiary of Hunt Consolidated Inc., a privately-held energy, oil and real estate conglomerate, announced today that it has divested its Langhorne, PA-based E-MON Division, a leading manufacturer and distributor of electronic kilowatt-hour submeters, automatic meter reading software and other energy management products and services.  E-MON management, in concert with Branford Castle, Inc., a private equity firm based in New York City founded by John K. Castle, the former CEO of Donaldson, Lufkin & Jenrette and founder of Castle Harlan, Inc, acquired the assets of the Division from Hunt Power.  Capstone initiated the transaction and served as the exclusive investment banking advisor to Hunt Power. Terms of the transaction were not disclosed.

Tim Harned, Managing Director and Head of Capstone’s Technology Group, commented, “We are privileged to have helped Hunt Power in its strategic realignment initiative.  In facilitating the sale of E-MON to an independent financial sponsor with dedicated domain and management resources and a long-term investment horizon, we feel that the core strengths of E-MON can be more efficiently leveraged as the leading provider of submeters to meet consumers’ requirements for time-of-use and demand billing data.”

E-MON, established in 1981, is the industry leader in the manufacture of solid-state electronic kilowatt-hour submeters and related products. E-MON's products are installed worldwide for tenant billing, cost allocation, demand side management, energy conservation and load profiling in skyscrapers, shopping centers, airports, factories, office buildings, apartment buildings, college campuses and government facilities.  E-MON has an established a network of over 4,000 distributors supported by independent sales representative agencies throughout the world.  The company's customer base ranges from small retail stores to Fortune 500 corporations.

Branford Castle Inc., founded in 1986, is a long-term, control investor in small to medium sized businesses.  Branford acquires businesses that have a leadership position in a definable market niche, a proprietary competitive advantage, and a top-rate management team committed to growth.  With each new investment, Branford builds on its senior management's 35-year history of buying and growing businesses, which now spans over 150 control investments and represents many billions of dollars in transaction value.

 

“We always got top-notch advice, with outstanding industry knowledge, good foresight, and ferocious attention to detail. Senior level attention remained at 100% throughout when other firms would have punted to a junior associate.”
Enrique Marroquin
Director of Finance
Hunt Power, L.P.