Dif Capital Partners, a leading global infrastructure investment firm, has announced the acquisition of Bernhard LLC, the largest private Energy-as-a-Service (EaaS) provider in the United States. The acquisition, made through DIF Infrastructure VI fund, marks a significant expansion for DIF Capital Partners in the North American market and strengthens its commitment to sustainable energy solutions. Bernhard was acquired from an affiliate of Bernhard Capital Partners.
Bernhard has a century-long history of providing energy and infrastructure solutions, strategically pivoting to the EaaS model in 2014. This model involves long-term partnerships where Bernhard upgrades and manages clients’ energy infrastructure, delivering substantial energy savings and operational efficiencies. The company primarily serves higher education and healthcare institutions, and has successfully closed 15 EaaS transactions to date, including the largest EaaS concession in U.S. history. Crucially, Bernhard’s senior management will maintain a significant ownership stake and continue to lead the company’s operations.
Gijs Voskuyl, Partner and Head of Investments for DIF Infrastructure VI, commented on the acquisition: “Bernhard’s unique EaaS model perfectly aligns with DIF Capital Partners’ expertise in Public-Private Partnerships and our global ambition to invest in clean energy infrastructure. Bernhard provides a crucial service by delivering distributed energy solutions that significantly reduce the carbon footprint for their clients. We are thrilled to collaborate with Bernhard’s exceptional management team and support their continued growth at the forefront of the energy transition.”
Echoing this sentiment, Ed Tinsley, CEO of Bernhard, stated, “As Bernhard aims for continued leadership in the EaaS market, partnering with DIF Capital Partners, with their deep experience in Public-Private Partnerships, district energy, and Energy-as-a-Service projects, is an ideal next step. We share a commitment to efficiency, ESG, and sustainability. DIF’s strategic support will be invaluable as Bernhard enters its next phase of development.”
Following the acquisition by DIF Capital Partners, Bernhard is poised to accelerate its growth within the healthcare and higher education sectors. Furthermore, the partnership will facilitate the expansion of Bernhard’s EaaS offerings into new markets and geographies, leveraging DIF’s global presence and investment expertise.
“The future for Bernhard is exceptionally bright,” added Tinsley. “Our proven track record demonstrates our industry-leading expertise and capabilities in EaaS. This acquisition places us at the forefront of a transformative era in energy solutions, one that will positively impact generations to come.”
This acquisition underscores DIF Capital Partners’ strategic focus on investing in companies that drive the energy transition and deliver sustainable infrastructure solutions. By partnering with Bernhard, DIF is strengthening its portfolio in the rapidly growing EaaS market and reinforcing its commitment to ESG principles and long-term value creation.
