Partners Group, a global private markets firm, has acquired a majority equity stake in Budderfly, an energy-as-a-service provider in the U.S. As part of the transaction, Partners Group has committed over $500 million in growth capital.

Budderfly delivers EaaS services including measurement, reduction, and management of energy demand and consumption. The deal is intended to build the firm into a multi-billion dollar infrastructure platform.

“At Budderfly, we are committed to helping customers meet their sustainability goals and reduce costs,” Al Subbloie, founder and chief executive officer, Budderfly. “EaaS is a simple solution, with the added benefits of utility bill savings and no capital outlay. On the back of continued strong growth, both in terms of new site installations and acquiring new customers, we are looking ahead to our exciting next chapter of expansion. We believe Partners Group’s experience scaling infrastructure platforms, as well as its operational expertise and deep financial resources, make the firm an ideal partner as we expand our footprint.”