Funding to facilitate recapitalization and support employee ownership
San Diego, CA – June 23, 2014 – Huntington Capital Fund III, LP (“Huntington”), a San Diego based lower-middle market focused private equity fund, has announced the funding of a mezzanine loan to EPIS, Inc. (“Company”), a power market forecasting software company. The new financing will be used to help the current shareholders diversify their holdings and recapitalize the stock in support of new employee ownership.
The Company is a pioneer in software development for the wholesale-electric power industry. The Company’s software provides a unique combination of analytical power, versatility and speed making it an indispensable risk analysis tool, enabling customers to accurately measure value at risk and examine uncertainties around demand, fuel prices, transmission constraints, hydro conditions and other variables.
Frank Mora, Principal at Huntington Capital, commented, "We look forward to partnering with the EPIS management team and being a part of the Company's growth. As market demand for energy increases, we believe leading vendors like EPIS will provide its customers an invaluable tool for forecasting wholesale electricity prices."
EPIS customers primarily include consultants, independent and publicly owned utilities, traders, and power producers. These customers have chosen EPIS flagship software AURORAxmp for its ease of use, comprehensive database, customer support and powerful analytic capabilities. AURORAxmp can produce short-term or long-term price forecasts for all major market zones and trading hubs. It can also simulate hourly supply and demand to provide electric price forecasts for the short term or for years out.
"We are very pleased to partner with Huntington to recapitalize our stock and increase employee ownership in EPIS. The Company enjoys strong, supportive relationships with its clients, and we are well positioned to capitalize on the need for power market forecasting intelligence from companies across the U.S. and worldwide", commented Warren Winter, EPIS founder and CEO.
EPIS, Inc. is the developer of the AURORAxmp Electric Market Model, the proven leading-edge software package with ready-to-use data for all the reliability regions in North America to forecast wholesale electricity market prices. Leading energy providers, power-marketing companies, energy consultants, and utilities use AURORAxmp to model wholesale electricity prices and perform short, medium, and long-term studies. Since its introduction in 1997, AURORAxmp has become the industry’s premier model for reliable electric-market price forecasting, resource valuation and market-risk analysis. For more information, please visit the company website at www.epis.com.
About Huntington Capital
Based in San Diego, CA, Huntington Capital is a leading mezzanine capital provider to underserved, lower middle market companies throughout California and the Western United States. Founded in 2000, Huntington is currently making new investments out of its third fund, Huntington Capital Fund III, L.P. Huntington seeks to invest in established lower middle market businesses generating between $10 million and $75 million in revenues across a broad range of industries; investments are typically structured in the form of growth capital, buyout or acquisition financing ranging between $2.0 million and $7.0 million. The firm has invested in approximately 50 companies since its founding. Partners Morgan Miller, Tim Bubnack and Frank Mora lead Huntington’s management team. For more information, please visit the company website at www.huntingtoncapital.com.