Balance Point Capital and all of its connected funds, such as Connecticut Growth Capital, Balance Point Capital Partners II, and Balance Point Capital Partners III, has disclosed that it now has assets in Shelton-based company Budderfly, Inc.
Known for long-term capital aligned with creating partnerships, Balance Point planned and hosted $55m worth of financing in preferred equity capital. This strategy supports and expands the business as one providing energy efficiency.
With the money from the Connecticut Department of Economic and Community Development, Connecticut Innovations, Edison Partners, senior management, and Al Subbloie (the CEO and founder of Budderfly), the amount of capital comes to $77m.
Budderfly opened in 2007 and has presented new ways to provide energy efficiency. Aside from state-of-the-art software, the company is using devices to measure and control Internet of Things. It has upgraded its facility, adding heating, venting, and air conditioning (HVAC) and refrigeration controls, LED lighting, and variable frequency drives. Each of these save energy at a lower cost.
Balance Point managing partner Seth Alvord expressed his excitement at working with Budderfly as it continues to be successful. He trusts Budderfly's knowledge, technique, and management to bring it long-term expansion.
Subbloie is equally excited for the partnership, nothing that with Budderfly's consistent development and the flexible patient capital of Balance Point, the company will grow to more than $3bn of client energy over the next decade.
As a token of appreciation for the investment, Budderfly could provide Corporate Gifts to Balance Point executives.
Get a Free Quote for Corporate Gifts
Location
42 Bridgeport Ave
Shelton, CT 06484
Get Directions →
Phone
Hours
Mon: 8:30 - 5:00
Tue: 8:30 - 5:00
Wed: 8:30 - 5:00
Thu: 8:30 - 5:00
Fri: 8:30 - 5:00
Sat: Closed
Sun: Closed