Overview
- Stonepeak and Bernhard Capital Partners agreed to buy Cleco from a Macquarie-led investor group, with the deal pending customary regulatory review.
- Cleco says it will remain locally managed with its headquarters in Pineville once the sale closes.
- The company plans to keep its 1,200 employees and maintain current pay and benefits.
- Service will stay under Louisiana Public Service Commission oversight for about 298,000 customers across 24 parishes.
- The announcement follows roughly $3 billion invested in reliability over the past decade and an LPSC-approved grid resiliency program.