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PE firm Orion Energy signs deal with Martin Energy

Private equity firm Orion Energy Partners LP is providing a senior secured credit facility to Martin Energy Group under a strategic capital partnership to fund the energy systems manufacturer's expansion of its distributed generation platform.

Tipton, Miss.-headquartered Martin Energy's "CHP as a Service" platform is focused on owning combined heat and power assets that offer onsite power and thermal energy to commercial and industrial customers in North America and the Caribbean.

The initial project under the expansion plans includes a CHP facility in Puerto Rico, which is backed by a long-term offtake deal with Coca Cola Puerto Rico Bottlers.

Capstone Headwaters LLC acted as exclusive placement agent for Martin Energy in relation to the term loan from Orion Energy, while Greensfelder Hemker & Gale PC and Reichard & Escalera LLC acted as legal counsel to the energy firm.

Latham & Watkins LLP and McConnell & Valdés served as Orion Energy's legal counsel.