ORLANDO, Fla.–(BUSINESS WIRE)–Qualus Corporation (“Qualus”), a leading pure-play power services firm and innovator at the forefront of the energy transition, announced today that it has entered into a definitive agreement to acquire Planet Forward Energy Solutions, LLC (“PFES”), a specialized and differentiated provider of program management and strategic advisory services to the power industry and utilities. PFES will bring to Qualus deep expertise and resources in multi-disciplinary program and project management, project controls, construction management, and owner’s engineering services. The firm will also expand Qualus’ advisory services in the areas of business intelligence, data analytics, and in deploying advanced technologies to enhance decision-making, operational efficiency, demand forecasting, and safety adherence while integrating innovation with existing systems.
PFES has extensive experience managing large, long-term power and utility infrastructure programs. The firm serves as a trusted advisor to optimize the structuring of capital investment strategies and allocation of resources as part of multi-decade long critical infrastructure initiatives for its clients, including initiatives in grid resiliency, clean energy, energy efficiency and increased generation investment related to renewables, decarbonization, electrification, and data center expansion.
“The addition of PFES to Qualus will broaden our service offerings and enhance the ability of both firms to provide clients with more robust, comprehensive solutions and resources, by deploying our full range of capabilities from strategic advisory to program development and management, to engineering and digital solutions, to specialized field services, to full program and project delivery,” said Dr. Hisham Mahmoud, Chairman and CEO of Qualus. “We look forward to welcoming the PFES team to Qualus and are excited for the opportunities this combination will create for our people and clients.”
PFES is part of The Planet Group (“Planet”). Completion of the acquisition is subject to customary closing conditions, including required regulatory clearance and PFES’s organizational separation from Planet.
EFCG served as the financial advisor to Qualus on the transaction. Houlihan Lokey served as the primary financial advisor to Planet, with AEC Advisors acting as co-advisor. Qualus is backed by New Mountain Capital (“New Mountain”). Qualus and New Mountain worked with Goldman Sachs Alternatives’ Hybrid Capital group, who provided incremental capital to support the transaction.
About Qualus
Qualus is a leading pure-play power services firm and innovator at the forefront of the energy transition, with differentiated capabilities across grid modernization, resiliency, security, and sustainability. The firm partners with utilities, commercial, industrial, and government clients, and renewable and energy storage developers, offering comprehensive solutions through boutique and integrated advisory, planning, engineering, digital solutions, program management, and specialized field services. Qualus also provides software and technology enabled services and develops breakthrough solutions for critical power industry challenges such as distributed and variable resource integration, emergency management, and secure data exchange. The firm has nearly 1,200 professionals, with offices throughout the U.S. and Canada. www.qualuscorp.com
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