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Orion backs energy efficiency lighting company with $75m

A week after financing a port terminal in Florida, the New York-based firm agreed to provide a credit facility to a business installing energy efficient lighting systems.

Orion Energy Partners has provided $75 million to aid with the expansion of a US-based energy efficient lighting company.

The New York-based firm has backed Future Energy Solutions Lighting Group (FES) with a credit facility that will provide capital to support its energy efficient infrastructure business. Orion said in a statement the credit facility it is providing is a “strategic financial partnership” with FES.

Founded in 2009, FES already receives backing from UK-based Matterhorn Capital, a global property company with more than $3.5 billion in transactions over the past decade, and Florida-based Stonegate Bank. In April 2016, Stonegate Bank provided $5 million to FES, upping its total commitment to $10 million.

Mayer Brown LLP acted as legal advisor and PricewaterhouseCoopers Corporate Finance LLC and BDO LLP acted as financial advisors to FES. Latham & Watkins LLP acted as legal advisor to Orion Energy.

Orion, a mid-market energy infrastructure investor in North America, is said to be nearing a final close for its inaugural infrastructure debt fund. The fund is expected to exceed its $750 million target this summer, sources familiar with the matter told Infrastructure Investor .

Last Week, Orion provided just under $100 million to finance the expansion of the Keystone Jacksonville Terminal in Florida, one of the largest port terminals in the south-eastern US.