Pittsburgh, PA (April 8, 2025) – Tecum Capital (“Tecum”) is excited to announce its investment in TPI Efficiency (“TPI” or the “Company”), a Cleveland-based energy brokerage, energy management solutions, and sustainability consulting firm, offering exceptional value to clients across various commercial and industrial markets.
Tecum partnered with ScaleCo Capital (“ScaleCo”), a Cleveland-based private equity firm, to support TPI’s acquisition of The Utilities Group (“TUG”). Located in Cincinnati, OH, TUG has been a trusted provider of energy management solutions since 1999. The merger of TPI and TUG will offer exceptional value to clients across various commercial and industrial industries, specifically manufacturing, healthcare, and commercial real estate.
“By joining forces with TUG, we’re creating a stronger, more adaptive company built for today’s energy challenges,” said Vin Zachariah, Chief Executive Officer of TPI Efficiency. “Our combined expertise in procurement and sustainability uniquely positions us to deliver smarter and more cost-effective energy solutions across Ohio and beyond.”
“This acquisition is a great example of ScaleCo’s approach to scaling middle-market companies,” said Brendan Anderson, Managing Partner at ScaleCo. “By supporting TPI in this transaction, we’re reinforcing our commitment to sustainable growth and value creation in the energy sector.”
TPI’s top-tier energy management and sustainability solutions, along with its geographic presence, will be enhanced through the acquisition of TUG. Going forward, both companies will retain their offices in Northeast and Southwest Ohio, aiming to expand their customer base throughout the state and into other deregulated energy markets. Together, they will form one of the largest energy brokerage firms based in Ohio.
Matt Harnett, Partner at Tecum, commented, “TPI exemplifies the key characteristics we seek in our investments, including a commitment to quality customer service and delivering value to clients, factors that contribute to a stable base of recurring revenue. We are very excited to partner with ScaleCo and TPI, and to support the company through its next phase of growth.”
Matt Harnett and Husnain Safdar led the investment at Tecum.
About TPI Efficiency
TPI Efficiency is a vendor-neutral energy consulting firm that delivers comprehensive energy management and sustainability solutions. We offer expertise in renewable energy consulting, energy efficiency services, energy procurement, and sustainability planning. With access to over 150 suppliers, TPI helps organizations reduce operating costs, improve energy efficiency, and achieve environmental goals through tailored strategies and objective advice. For more information, visit www.tpiefficiency.com.
About The Utilities Group
Established in 1999, The Utilities Group is a trusted energy management and sustainability consulting firm based in Cincinnati, Ohio. The company provides tailored energy solutions to clients across multiple industries, helping them reduce costs and achieve energy efficiency goals. For more information, visit www.theutilitiesgroup.com.
About ScaleCo Capital
ScaleCo Capital is a Cleveland-based lower middle market private equity firm that focuses on control-oriented leveraged buyout and growth equity investments in fast-growing companies based primarily in the Great Lakes region. ScaleCo partners with companies in the verticals of business services, tech-enabled services, value added distribution and assembly, and training, compliance, and education sectors, bringing operational expertise and strategic resources to scale their growth potential and build long-term value. To learn more, visit scaleco.com.
About Tecum Capital
Tecum Capital is a Pittsburgh, Pennsylvania-based private investment firm deploying capital in lower middle-market companies. Tecum provides mezzanine debt and equity investments in growth-oriented middle-market companies across the broader environmental/industrial services, high-value manufacturing, value-added distribution, and business services sectors. Our team partners with independent sponsors, family offices, committed funds, business owners seeking succession plans, and management teams to create shared success. Tecum manages two Small Business Investment Company (“SBIC”) licensed funds and is currently investing out of Tecum Capital Partners III, L.P, a $305 million fund launched in September 2021. Since 2006, the team has collectively invested more than $1 billion in over 160 platforms and add-on acquisitions. For more information, please visit www.tecum.com.