CLEARLAKE COMPLETES ACQUISITION OF QUALUS

Investment to support the Company's next phase of growth and accelerate grid modernization

SANTA MONICA, Calif. and LAKE MARY, Fla., April 30, 2026 /PRNewswire/ -- Qualus Corporation ("Qualus" or the "Company") announced today that Clearlake Capital Group, L.P. (together with certain of its affiliates, "Clearlake") completed its acquisition of the Company from New Mountain Capital ("New Mountain Capital"). Financial terms of the transaction were not disclosed.

Qualus is a pure-play, end-to-end electric power solutions platform at the forefront of the power infrastructure transformation in the U.S. and Canada. The Company delivers an integrated suite of advisory and planning, engineering, technical program management, digital solutions, energy efficiency, and specialized field services across the full infrastructure lifecycle. Anchored by deep power expertise, Qualus helps customers modernize the grid, manage increasing system complexity, invest in grid resiliency, and meet rising electricity demand driven by the electrification of the economy. The Company serves a blue-chip customer base of the nation's largest investor-owned utilities as well as commercial, industrial, and high-tech clients.

AEC Advisors served as lead financial advisor to Qualus and New Mountain Capital, with Harris Williams serving as co-financial advisor. Goldman Sachs, Houlihan Lokey, Perella Weinberg Partners, and Stifel served as financial advisors to Clearlake. Simpson Thacher & Bartlett and Wachtell, Lipton, Rosen & Katz served as legal counsel to Qualus and Clearlake, respectively. Apollo, Goldman Sachs Alternatives, and Clearlake acted as joint lead arrangers on the financing.

ABOUT QUALUS

Qualus is a pure-play power solutions platform at the forefront of power infrastructure transformation, with differentiated capabilities across grid modernization, resiliency, security, and sustainability. The Company partners with utilities, commercial, industrial, data center, and renewable and energy storage developers, offering comprehensive solutions through boutique and integrated advisory, planning, engineering, digital solutions, program management, energy efficiency, 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. For more information, please visit qualuscorp.com or follow Qualus on LinkedIn.

ABOUT CLEARLAKE

Clearlake is a leading global alternative asset manager founded in 2006 with over $185 billion of assets under management. Clearlake offers a broad range of investment solutions across private equity, credit, infrastructure, secondaries, co-investments, and other related private market strategies. Through Pathway Capital Management¹, a Clearlake company, the firm serves institutional and wealth investors seeking diversified access to private markets.

Clearlake seeks to partner with experienced management teams by providing patient, long-term capital to businesses across multiple sectors. The firm aims to drive value through its active, hands-on operating approach, O.P.S.® (Operations, People, Strategy), which combines deep operational expertise with strategic and talent-focused initiatives. Headquartered in Santa Monica, Clearlake maintains 13 offices across the Americas, Europe, Asia, and the Middle East. For more information, please visit clearlake.com or follow us on LinkedIn.

ABOUT NEW MOUNTAIN CAPITAL

New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than excessive risk, as it pursues long-term capital appreciation. The firm currently manages private equity, strategic equity, credit, and net lease real estate funds with approximately $60 billion in assets under management. New Mountain seeks out what it believes to be the highest quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. For more information, please visit newmountaincapital.com.

SOURCE Clearlake Capital Group