Clearlake Capital Group agreed on 25 March to acquire Qualus, a US provider of engineering, advisory, digital and field services to electric utilities, from New Mountain Capital. Terms were not disclosed.
Why Clearlake Capital Group is buying Qualus Corp.
Clearlake co-founder José E. Feliciano and colleagues said the power sector was entering a sustained period of critical investment, with a widening gap between grid demand and technical capacity, and that Qualus was positioned at its centre. Qualus chief executive Greg Herasymuik said the new owner would help it scale.
Deal terms and financing
New Mountain had owned Qualus for about five years. Apollo, Goldman Sachs Alternatives and Clearlake acted as joint lead arrangers on the acquisition financing.
Regulatory approvals and timing
The deal was subject to customary regulatory approvals and expected to close in the second quarter of 2026. Qualus announced on 30 April 2026 that Clearlake had completed the acquisition.
Market context
Utilities are facing rising electricity demand from electrification and data centres alongside ageing infrastructure, drawing private capital into grid engineering and services businesses.
