DALLAS--(BUSINESS WIRE)--Feb. 20, 2024--
Divcon Controls (“Divcon”), a systems integrator delivering facility management automation and monitoring solutions primarily to the mission-critical data center market, today announced a new investment from the Sustainable Investing at Goldman Sachs Alternatives. The investment will recapitalize the company and position Divcon to expand market share in mission-critical data centers as well as invest in new product offerings.
In providing a seamlessly integrated controls system, Divcon has increased the reliability and uptime of the mission-critical facilities that it serves. The integration of system controls and building automation systems also optimizes the energy used to cool data center facilities by increasing equipment efficiency.
With this investment, Goldman Sachs will look to bring its network and global resources to help accelerate Divcon’s growth within the mission-critical market sector. The investment will support Divcon in exploring new markets and broadening its offerings, while continuing to improve service to the Company’s world-class customer base.
“We are excited to partner with Divcon’s management team to accelerate the company’s growth. Divcon is valued by its customers for its flexibility, depth of technical expertise and customer-centric approach,” said Jeff Possick, managing director in Sustainable Investing at Goldman Sachs Alternatives. “We are attracted by the secular tailwinds in data center construction – which have only accelerated with the adoption of AI – combined with increasing focus on reducing the energy load that data centers require to operate.”
John Palacios, Co-Founder and Chairman at Divcon Controls, said, "Welcoming an investor like Goldman Sachs is game changing for us. Their extensive network and global reach should significantly enhance our capabilities and allow us to expand our services to a wider market."
“As a management team we believe that the resources of Goldman will not only assist us in better servicing our existing customers but will allow Divcon to reach new levels within the mission-critical market,” said Ben Crowell, Co-Founder and CEO at Divcon Controls. “The global footprint, technical resources, and financial backing that Goldman Sachs brings to our partnership will play an instrumental role in the future success and growth of Divcon.”
About Divcon Controls
Headquartered in Dallas, TX, Divcon Controls provides building management and electrical power monitoring systems to mission-critical facilities, enabling the customer to control, automate & monitor energy and power functions. With over 9 million square feet of white space under management and more than 1 gigawatt commissioned since 2017, Divcon is one of the largest independent control systems contractors globally specializing in colocation data centers and mission critical facilities. Divcon’s mission is to provide its customers with cost-effective solutions to meet their exact building automation needs. Divcon strives to accomplish this through technology, innovation, and client-focused personal service.
About Sustainable Investing at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has over $2.8 trillion in assets under supervision globally as of December 31, 2023.
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Patrick Lenihan
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201-819-9871
Source: Divcon Controls
