Qualus Corporation (“Qualus”), a leading power services firm and innovator at the forefront of the energy transition, announced today that it has entered into a definitive agreement to acquire Planet Forward Energy Solutions, LLC (“PFES”), a specialized provider of program management and strategic advisory services to the power industry and utilities. The acquisition will strengthen Qualus’ capabilities in multi-disciplinary program and project management, project controls, construction management, and owner’s engineering services. Additionally, PFES will enhance Qualus’ advisory services in business intelligence, data analytics, and the deployment of advanced technologies to improve decision-making, operational efficiency, demand forecasting, and safety adherence, while integrating innovation with existing systems.
PFES brings extensive experience in managing large, long-term power and utility infrastructure programs. The firm is a trusted advisor in optimizing capital investment strategies and resource allocation for critical infrastructure initiatives, including grid resiliency, clean energy, energy efficiency, and increased generation investment related to renewables, decarbonization, electrification, and data center expansion.
Dr. Hisham Mahmoud, Chairman and CEO of Qualus, stated, “The addition of PFES to Qualus will broaden our service offerings and enhance our ability to provide clients with more robust, comprehensive solutions and resources. By deploying our full range of capabilities, from strategic advisory to program development and management, to engineering and digital solutions, to specialized field services, to full program and project delivery, we look forward to welcoming the PFES team to Qualus and are excited for the opportunities this combination will create for our people and clients.”
PFES is part of The Planet Group (“Planet”). Completion of the acquisition is subject to customary closing conditions, including required regulatory clearance and PFES’s organizational separation from Planet.
EFCG served as the financial advisor to Qualus on the transaction. Houlihan Lokey served as the primary financial advisor to Planet, with AEC Advisors acting as co-advisor. Qualus is backed by New Mountain Capital (“New Mountain”). Qualus and New Mountain collaborated with Goldman Sachs Alternatives’ Hybrid Capital group, which provided incremental capital to support the transaction.
About Qualus
Qualus is a leading power services firm and innovator at the forefront of the energy transition, offering differentiated capabilities in grid modernization, resiliency, security, and sustainability. The firm partners with utilities, commercial, industrial, and government clients, as well as renewable and energy storage developers, providing comprehensive solutions through boutique and integrated advisory, planning, engineering, digital solutions, program management, and specialized field services. Qualus also offers software and technology-enabled services and develops breakthrough solutions for critical power industry challenges such as distributed and variable resource integration, emergency management, and secure data exchange. The firm employs nearly 1,200 professionals, with offices throughout the U.S. and Canada. For more information, visit www.qualuscorp.com.
