TPG Growth and The Rise Fund’s Acquisition of CLEAResult

Vinson & Elkins advised TPG Growth and The Rise Fund in an agreement to acquire CLEAResult

CLEAResult, a leader in designing and implementing technology-enabled energy efficiency programs for utilities, completed its acquisition by TPG Growth, the middle-market and growth equity platform within TPG, and The Rise Fund, a global impact investing fund managed by TPG. TPG Growth and The Rise Fund are co-investors in acquiring the company from General Atlantic, a leading global growth equity firm. Financial terms of the transaction were not disclosed.

Headquartered in Austin, Texas and serving hundreds of utility customers across the country, CLEAResult partners with utilities and local governments to design, implement and maintain services and programs that provide energy optimization and efficiency to residential, institutional, commercial and industrial organizations. Through these programs, CLEAResult helps lower energy and grid load requirements, reduces energy bills for consumers and cuts carbon emissions through reduced heating and electricity usage.

The V&E corporate team was led by partners Keith Fullenweider (Picture) and Lande Spottswood, with assistance from associates Robert Hughes, Connor Long and Kathryn Hastings. Also advising were partner John Lynch; partner Jo Ann Biggs; partner David Wicklund; partners Devika Kornbacher, Hilary Preston and Craig Tyler; partners Neil Imus and Darren Tucker; partner Amy Riella and counsel Sarah Mitchell, Dan Gerkin and Marisa Antos-Fallon; partner Tom Wilson, counsel Martin Luff and senior associate Christie Alcala; partner Stephen Jacobson; and senior associate Matthew Dobbins.

Involved fees earner: Keith Fullenweider – Vinson & Elkins LLP; Lande Alexandra Spottswood – Vinson & Elkins LLP; Robert Hughes – Vinson & Elkins LLP; Connor Long – Vinson & Elkins LLP; Kathryn Hastings – Vinson & Elkins LLP; Jo Ann Biggs – Vinson & Elkins LLP; David Wicklund – Vinson & Elkins LLP; John Edward Lynch – Vinson & Elkins LLP; Devika Kornbacher – Vinson & Elkins LLP; Hilary Preston – Vinson & Elkins LLP; Craig Tyler – Vinson & Elkins LLP; Neil Imus – Vinson & Elkins LLP; Darren Tucker – Vinson & Elkins LLP; Amy Lamoureux Riella – Vinson & Elkins LLP; Daniel Gerkin – Vinson & Elkins LLP; Sarah Mitchell – Vinson & Elkins LLP; Marisa Antos-Fallon – Vinson & Elkins LLP; Thomas Wilson – Vinson & Elkins LLP; Martin Luff – Vinson & Elkins LLP; Christie Alcalá – Vinson & Elkins LLP; Stephen Jacobson – Vinson & Elkins LLP; Matthew Dobbins – Vinson & Elkins LLP;

Law Firms: Vinson & Elkins LLP;

Clients: TPG Growth; The Rise Fund;