Genesis Capital Advises Five Point Partners on its Sale to Ernst & Young LLP

Genesis Capital Advises Five Point Partners on its Sale to Ernst & Young LLP

Genesis Capital is pleased to share that Five Point Partners, LLC (“Five Point”), a full-service consulting services firm serving the power and utility industry, has joined the Ernst & Young LLP (“EY”) organization in the US, Canada and Philippines. Five Point focuses on enterprise applications, especially customer information and billing systems, providing full life cycle, enterprise consulting services from information technology (IT) assessment and analysis, to implementation and post go-live support services.

“Five Point’s renowned customer information systems (CIS) capabilities can help EY expand its own CIS services and together work with clients to replace their legacy customer relationship management and billing systems and transform their customer’s experience,” said Dana Hanson, a principal with Ernst & Young LLP and the Power & Utilities Advisory industry lead. “Together, we will work to create a better utility industry customer experience that is less confusing and more accurate, similar to EY’s own charge of working with clients to build a better working world.”

Hanson noted that many utilities are using aging customer information systems that will need to be upgraded or replaced to accommodate new requirements, such as net metering, as well as to provide more complex products and services. The utilities sector is expected to spend $4 to $5 billion a year over the next 4-7 years on CIS upgrades.

Richard Charles, President of Five Point, said, “as part of EY, we will be able to offer utility companies the tools and guidance they require to transform their customer relationship and billing systems, and meet the emerging needs of their customers. We’re proud to join a leading global professional services firm that values our knowledge and experience with respect to this rapidly changing part of the utility industry.”

This acquisition will further strengthen the Advisory Services practice of Ernst & Young LLP, which provides performance improvement, technology enablement, risk consulting and business transformation services.

“Five Point’s CIS and IT transformation capabilities in the utilities sector can also expand EY’s capabilities around implementing CIS across multiple sectors,” said Geoff Vickrey, a principal with Ernst & Young LLP and the EY Americas IT Advisory leader. “This transaction is just the latest example of EY’s commitment to offering greater value and the most advanced technology services available to our clients. We are very pleased to welcome these highly talented professionals to EY.”

Robert Batson, COO and co-founder of Five Point, said that “we have enjoyed a long-term relationship with Genesis Capital.  They patiently worked with us to ensure that our shareholder objectives were achieved. They are high integrity bankers who consistently provide objective and thoughtful advice. The Genesis Capital team provided unmatched, hands-on, senior-level attention throughout the transactions we completed.”   Kurt Zuch, CEO and co-founder of Five Point, added “Genesis Capital worked tirelessly to execute a highly disciplined process in order to maximize all shareholder goals.  The team also recommended and helped us procure R&W insurance which overcame a potential deal breaker and created additional shareholder value.  They were instrumental in identifying EY as the ultimate buyer and treated our sale process with considerable care and attention, were with us at every turn and left no detail, no matter how small, to chance.”

Genesis Capital, LLC acted as the sole investment banking advisor to Five Point Partners, LLC, while Kilpatrick Townsend & Stockton, LLP provided legal counsel.

About Five Point 

Five Point’s collaborative style, industry knowledge and proven methodologies guide their clients through complex technology and business transformation initiatives. Five Point utilizes industry applications from leading software providers to help clients reduce costs, save time, improve reliability, increase efficiency and improve customer service.

About EY 

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

Company Type: Private Companies

Transasction Type: Sellside M&A

Industry: Business Services, Technology / Media / Telecom