ProEnergy Holdings Receives Equity Financing

Washington, D.C., September 10, 2012 – ProEnergy Holdings announced the completion of an equity financing led by Eos Partners, L.P. and ACON Investments. Proceeds will primarily be used to fund ProEnergy’s continued growth initiatives. Terms of the transaction were not disclosed.

ProEnergy is a leading provider of a comprehensive range of new project and aftermarket products and solutions for a global customer base of independent power producers, utilities, energy companies and industrial customers.  ProEnergy’s corporate heritage and core business is focused on serving gas turbine based power plants throughout the entire project lifecycle.  Headquartered in Sedalia, Missouri and with facilities in Houston, Texas and Fort Collins, Colorado, ProEnergy has operations in eight countries serving customers worldwide.

“The entire management team is looking forward to our partnership with Eos Partners and ACON Investments,” said ProEnergy President and CEO Jeff Canon.  “Under this new sponsorship, ProEnergy will continue to grow as a global provider of quality, value, and expertise in the power products and services market.”

“ProEnergy has demonstrated solid performance through its long-tenured relationships with its customers,” said Mark First, Managing Director of Eos Partners. “The management team has built a solid foundation, which will ensure ProEnergy continued success. Customers see value in ProEnergy’s sector expertise and range of product and service offerings. We are excited to partner with President and CEO Jeff Canon and the management of ProEnergy to build value in a business that is poised for continued growth,” added First.
“We are pleased to partner with the management of ProEnergy to support its growth objectives,” said Ken R. Brotman, Founding Partner of ACON Investments.  “We are impressed with ProEnergy’s management team, expansive facilities, global reach and capabilities and believe this is a unique time to invest in this sector.”
Financing is being provided by JP Morgan Chase, US Bank, Fifth Third Bank, and PNC Bank, N.A.  Winston & Strawn, LLP and Hogan Lovells US LLP acted as legal advisors to Eos and ACON.  Jackson Walker LLP acted as legal advisors to ProEnergy. Duff & Phelps Securities, LLC acted as financial advisors to ProEnergy.

About ProEnergy Holdings
Focused primarily in the energy industry, ProEnergy is responsible for the supply of new and refurbished equipment and parts, and construction, management, operations, maintenance, and repair services, for energy generation facilities and equipment around the world. The Company’s extensive capabilities and commitment to quality and safety has led to its expansive growth.  Founded in 2002 by Jeff Canon, ProEnergy currently operates 14 integrated lines of business to successfully support all phases of a power plant’s life cycle. The Company has U.S. offices in Sedalia, Missouri; Houston, Texas; and Fort Collins, Colorado; and international locations in a number of countries including Argentina, Venezuela, Brazil, Panama, Pakistan and Angola. More information is available on its web site at WWW.PROENERGYSERVICES.COM.

About ACON Investments
ACON Investments is a Washington, D.C.-based private equity investment firm that manages private equity funds and special purpose partnerships in the United States and Latin America. Founded in 1996, ACON and its principals have managed over $2.0 billion of capital. ACON pursues a theme-based investment strategy by focusing on industries and businesses at key inflection points in their development and pursues these opportunities in close partnership with established management teams.  ACON has offices in Washington, Los Angeles, Mexico City and Sao Paulo. For more information, visit WWW.ACONINVESTMENTS.COM

About Eos Partners
Formed in 1994, Eos is a private investment firm with approximately $1 billion of private equity capital and commitments to invest alongside outstanding managers in growing companies. Eos focuses on working closely with management teams, and committing its understanding of strategic alternatives and the financial markets to help grow these businesses into larger scale, leading enterprises. For additional information about Eos, please visit WWW.EOSPARTNERS.COM.

Contact
Ken Brotman, ACON Investments, 202-454-1100