NEW YORK, Sept. 6, 2017 /PRNewswire/ -- GPB Capital has appointed Dan Alper, former CEO of Major Energy Services, LLC, as a Senior Advisor and part of the team to identify and execute potential acquisitions in the retail energy sector.
The increasing trend of energy deregulation, now prevalent in 20 states, along with the ongoing development and customer interest in green and integrated energy solutions, has led to the growth of private companies that can compete with state-run utilities to provide electricity and natural gas to consumers in those markets. GPB Capital will harness Mr. Alper's wide-ranging expertise to evaluate acquisition opportunities in the space.
"Retail energy companies provide a vital service and produce recurring monthly revenue, which is consistent with GPB Capital's strategy of investing in income-generating, recession-resilient businesses," said Carlos Valle, Managing Partner for Energy at GPB Capital. "Dan's experience as both a corporate CEO and M&A dealmaker in the industry makes him a vital resource for us as we consider acquisition opportunities."
During his tenure as CEO of Orangeburg, N.Y.-based Major Energy, which serves electricity and natural gas customers in eight states, Mr. Alper spearheaded growth initiatives as well as solutions to regulatory challenges. Mr. Alper also oversaw the sale of Major Energy to National Gas & Electric, an affiliate of Spark Energy, Inc., in April 2016. After the acquisition closed, he stayed on as CEO of Major Energy.
Prior to Major Energy, Mr. Alper was an attorney in private practice who advised entrepreneurs, emerging-growth companies, private investment funds, and other clients on complex financings, mergers and acquisitions, technology licensing, real estate, and corporate transactions. Mr. Alper was also one of the founding partners of Ibex Financial Services, LLC, a loan originator and investment manager formed to partner with Credit Suisse. Throughout his career, he has led and closed a variety of deals valued in excess of $2 billion.
"The addressable market for retail energy has significantly increased over the past decade, and there are a variety of opportunities for GPB Capital to help independent electricity and natural gas providers increase their customer base," said Mr. Alper. "I look forward to working with the team at GPB Capital to empower companies to transform their current commodity-focused business model into a more value-added approach involving energy management solutions and services—which would enable them to grow faster and remain profitable over the long term."
About GPB Capital Holdings, LLC
GPB Capital is a New York-based alternative asset management firm focusing on acquiring income-producing private companies. GPB Capital provides their portfolio companies with the strategic planning, managerial insight and capital needed to enable strong businesses to achieve the next level of growth and profitability. GPB Capital has over $1.2 billion in assets under managementi and has acquired or invested in more than 100 portfolio companies. For more information, please visit www.gpb-cap.com.
i Which is different and distinct from GPB Capital's "Regulatory AUM."
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SOURCE GPB Capital