Santa Monica, CA (July 31, 2024): Bison Capital Partners VI, LP (“Bison Capital”) has announced an investment in Motive Companies, LLC (“Motive” or the “Company”). Motive, headquartered in Southern California, is a diversified energy transition solutions and industrial services business comprised of multiple business units (subsidiaries) across various market segments. Bison Capital partnered with Bob Istwan, CEO of Motive, to drive the next stage of the Company’s growth.
The Company’s business segments operating in the energy transition solutions and industrial services market segments cover:
Separate from the power and energy related businesses, Motive also has: a telecommunications infrastructure solutions business (i.e. building fiber optic networks); and an auto battery distribution unit.
Motive has established a leading position in the forklift battery distribution space and has leveraged its highly entrenched commercial and industrial (“C&I”) customer relationships to expand the portfolio of products and services across its group of companies. The Company’s diversified offering presents an attractive mix of stable, “anchor” business units that provide consistent cash flow and other higher growth business units with strong upside potential. In particular, the energy solutions unit is a differentiated service provider in the space, has had several major project wins with marquee C&I companies representing a massive, contracted backlog, and is well-positioned to capitalize on the rapidly growing energy transition market.
“We are extremely excited that Bison has chosen to partner with us on our rapid expansion. The synergy of this partnership will allow us to accommodate larger projects and compete more effectively in the renewables space.,” said Bob Istwan, CEO of Motive.
“Bison Capital is excited to partner with Motive’s highly talented management team to support the Company’s accelerating growth,” said Doug Trussler and Kurt Pilecki, Managing Partners at Bison Capital.
“Motive’s strong competitive positioning across its various business segments, entrenched position with its marquee C&I customer base, and unwavering focus on innovation have resulted in a differentiated platform poised to take advantage of significant growth opportunities, particularly given continued economic tailwinds towards clean and renewable energy sources.”
Motive Companies is a leading provider of renewable energy and infrastructure solutions for industrial and commercial applications. Our comprehensive portfolio includes energy storage & management, solar photovoltaic, lithium-ion batteries, electric vehicle & forklift charging, energy credits, as well as wireless, broadband & 5G. From design, construction, maintenance and installation, we provide true end-to-end services that support all energy, battery, charging and telecommunication needs. With offices across North America and a workforce of 1,100 professionals, we have the geographical reach, scalability, and financial stability to meet customers’ changing needs. At our core, Motive Companies develops renewable energy and infrastructure solutions to create a more sustainable society. More information:
Bison Capital is a Los Angeles based private equity firm that makes growth capital investments in middle-market companies, public or private, for expansion, acquisitions, and balance sheet recapitalizations. The firm’s primary investment focus is partnering with entrepreneurs and management teams seeking capital to grow their businesses.
Bison Capital Asset Management, LLC
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