Clearlake to Acquire New Mountain-Backed Qualus

Clearlake Capital Group has agreed to acquire pure-play power and electric grid services platform Qualus Corp. from New Mountain Capital.

Terms of the sale weren’t disclosed in a statement reviewed by Bloomberg News. Qualus is valued in the transaction at about $1.7 billion, including debt, said people familiar with the matter, who asked not to be identified because the information was private.

Representatives for Clearlake, Qualus and New Mountain declined to comment on the terms.

Qualus provides front-end advisory and planning, technical engineering, and specialized field services across substations, transmission, distribution and generation assets, according to the statement. Its ...