CI Capital, Former UTC Exec to Invest in Residential Solar and Commercial Security
CI Capital Partners, with approximately $1.3 billion in assets under management, is partnering with Paul Winnowski to consolidate the two growing industries.
NEW YORK — CI Capital Partners, a private equity firm, based here, has formed a partnership with Paul Winnowski to jointly pursue platform company investments in the residential solar industry and the commercial security integration industry.
Winnowski is the former president and COO of Sunrun (2014 to 2018), the nation’s largest residential solar company, and former president of UTC Fire & Security in Europe & South Africa. Winnowski joined Sunrun following its acquisition of Mainstream Energy, a diversified solar energy business, where he served as CEO from 2012 to 2014.
Prior to his time at Mainstream, Winnowski served in a number of senior roles in the security and fire alarm systems industry with UTC and GE, including as president of Europe & South Africa and president of Asia for UTC, as well as president of GE Security Asia.
CI Capital and Winnowski will pursue investment opportunities in each of the residential solar and commercial security integration sectors by targeting platform companies with differentiated capabilities and industry-leading management teams that can act as consolidators in two fragmented and fast-growing industries.
CI Capital Partners, with approximately $1.3 billion in assets under management, has been investing in middle-market companies since 1993. Since inception, the firm and its portfolio companies have made more than 350 acquisitions representing approximately $10 billion in enterprise value, according to an announcement.
“CI Capital has a long and successful track record of backing experienced management teams to acquire and build service businesses through organic growth and numerous add-on acquisitions, which was important to me as I selected a partner,” Winnowski states.
Winnowski explains now is an attractive time to build a platform company in each of the residential solar and commercial security sectors. Adoption of solar remains in the early stages nationwide, with homeowners increasingly intent on minimizing their carbon footprint, reducing reliance on traditional power distribution and lowering energy costs.
“Over time, I believe the value proposition of solar will continue to improve and drive further adoption by consumers, and I am passionate about helping homeowners realize that vision,” he says.
Winnowski continues, “The commercial security integration space remains highly fragmented and the technologies available to the marketplace are evolving at a rapid pace. End users will continue to seek out high quality service partners that can provide them with both a broad array of services and best-in-class delivery.”
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