Northleaf and Provident Energy Management announce strategic partnership

Majority acquisition will support growth strategy of sub-metering services

TORONTO, CANADA (August 2, 2023) – Northleaf Capital Partners (“Northleaf”) today announced a strategic partnership with Provident Energy Management Inc. (“Provident” or the “Company”), a leading provider of sub-metering and building automation services predominantly focused on the multi-residential new construction market. Funds managed by Northleaf have acquired a majority stake in Provident, aligning with the Company’s management team, who will maintain a minority interest, to expedite growth.

Provident is committed to generating substantial energy savings through individual utility metering and billing, building automation system installations and monitoring, and energy consulting services in the markets in which it operates.

“We look forward to working with Northleaf and multi-residential developers to strategically accelerate growth in new business opportunities and to grow our services across new markets throughout Canada and the US,” said Marco Pisterzi, COO/CFO at Provident.

“We're delighted to partner with Provident and its management team to build upon the Company’s strong track record of providing customers an essential service that promotes energy efficiency,” said Jared Waldron, Managing Director at Northleaf. “Provident’s existing and diversified installed base and robust pipeline underpins a resilient, long-term and contracted cashflow profile. This is an excellent fit with our mid-market infrastructure strategy which focuses on stable businesses with strong downside protection.”

Provident will continue its longstanding commercial relationship with OZZ Electric Inc. (“OZZ”) to foster growth. As the largest multi-residential electrical contractor in Canada, OZZ employs over 1,200 people across Ontario, British Columbia, and Washington State. “The natural and symbiotic relationship between OZZ and Provident adds substantial value to both businesses, providing our developer customers the convenience and economy of combined electrical and suite metering services,” said Steven Muzzo, CEO of OZZ and Provident.

Financial terms of the transaction were not disclosed. Northleaf was advised by National Bank Financial Inc. and Torys. The associated debt financing for this transaction was led and arranged by National Bank of Canada.


About Provident Energy Management Inc.

Provident is a leading sub-metering provider based in Ontario, Canada that provides billing services and energy management solutions to multi-residential buildings and their tenants. Provident has an extensive network of key developer relationships for whom Provident acts as the trusted partner to invest in sub-meters allowing multi-residential tenants to be billed for their actual utility usage thereby promoting energy conservation.

For more information on Provident, visit

About Northleaf Capital Partners

Northleaf Capital Partners is a global private markets investment firm with more than US$23 billion in private equity, private credit and infrastructure commitments raised to date from public, corporate and multi-employer pension plans, endowments, foundations, financial institutions and family offices. Northleaf’s more than 200-person team is located in Toronto, Chicago, London, Los Angeles, Melbourne, Menlo Park, Montreal, New York and Tokyo. Northleaf sources, evaluates and manages private markets investments, with a focus on mid-market companies and assets. For more information on Northleaf, please visit


Media Contacts

For Provident:
Marco Pisterzi
t: +1.905.695.5241

For Northleaf:
Sneha Satish
t: +1.646.502.3556

Nadine Cannata
Managing Director, Marketing & Communications
t: +1.416.477.6623