ARLINGTON, Texas--(BUSINESS WIRE)--Priority Power Management, LLC (“Priority Power”), an independent energy services provider offering smart energy solutions and streamlined transitions to carbon neutrality, announced today that Joe Loner has joined as Chief Financial Officer. Priority Power is backed by funds managed by Oaktree Capital Management, L.P. (“Oaktree”), a leader among global investment managers specializing in alternative investments, and Ara Partners Group ("Ara Partners"), a Houston-based private equity firm specializing in industrial decarbonization investments.
Mr. Loner brings over 15 years of relevant experience with a history of working with private equity-owned businesses in the power industry. Most recently, he was with GridLiance, a Blackstone-owned startup independent transmission company, where he was directly involved in its sale to NextEra Energy in 2021. Mr. Loner began his career at General Electric as part of its Financial Management Program, followed by numerous roles at AES, TPG-backed Nexeo Solutions and Panda Power Funds.
"Being on the frontlines of the energy transition, we need people who know the power industry inside and out and can help us guide our customers into this new world," said Brandon Schwertner, CEO of Priority Power. "Joe fits that description exactly, and we’re thrilled to be able to benefit from his expertise as we expand our client base and build on our strong financial position."
Mr. Loner commented, "I’m excited to join the leadership team at Priority Power and be a part of its important mission. I look forward to helping the company achieve continued success providing value and improving sustainability for our stakeholders."
About Priority Power
Priority Power is an independent energy solutions provider focused on energy infrastructure, energy transition program management, market intelligence operations, and energy structuring. Priority Power serves over 6,700 clients, totaling $2.7 billion in energy spend and 94 TWh of electricity managed across 31 states. The Company prioritizes energy efficiency and seeks to leverage its engineering, procurement, construction, and market expertise to aid in decarbonization of the industrial economy. For more information on Priority Power, please visit www.prioritypower.com.
Ara Partners
Ara Partners is a private equity firm specializing in industrial decarbonization investments. Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors, seeking to build businesses that are focused on sustainability and ESG principles. For more information on Ara Partners, please visit www.arapartners.com.
Oaktree
Oaktree is a leader among global investment managers specializing in alternative investments, with $156 billion in assets under management as of June 30, 2021. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. The firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at http://www.oaktreecapital.com/.
Contacts
Katherine Tappan
Investor Relations
501-951-5282
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