Press Release

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CEO Succession Plan Completed

River Heights, Utah, August 20, 2020 – Conservice, LLC the nation’s recognized leader in real estate based utility management technology, announces the upcoming retirement of its Founder & CEO, David Jenkins, following 20 successful years at the helm of the organization. Scott Hardy, COO of Vivint Smart Home, has been approved by Conservice’s board to assume the CEO responsibilities effective August 28, 2020. TA Associates and Advent International are the lead Sponsors in the Conservice investment, and Jenkins will continue to be Chairman of the Board and the largest non-institutional owner. Hardy will also join the board in conjunction with his new duties as CEO. “The last 20 years have been an incredible journey,” said Jenkins, “with a team that has been absolutely unbelievable. I’m excited to continue being involved as both a board member and owner as the Utility Experts® press forward with increasing growth and innovation. It has been nothing short of an honor to be associated with such an amazing team as we’ve developed our sophisticated utility platform which services over 4 million locations in North America, having grown from a small startup into a multi-billion dollar international company.”

“I deeply appreciate the support of the board in my decision, and I couldn’t be more pleased with the selection of Scott Hardy as the new CEO to continue our legacy and commitment to customer service, innovation, and growth that our customers have grown to expect as we enter our third decade of delivering unmatched technology-based utility services. Scott has a great sense for the special culture that has been a big part of the Conservice secret sauce the last 20 years, and I know he will continue to nurture and champion that important element. The company is in great hands.” Hardy said, “Under David’s leadership, Conservice has built a talented management team and an exceptional business model that uniquely positions it to deliver the most timely and accurate solutions for our customers,” said Scott Hardy. “I’m thrilled to follow in David’s footsteps in leading this special organization, and am committed to continue delivering on the high expectations of our customers, employees and investors.”

 

About Conservice

Conservice works with property management companies across the United States and Canada, providing comprehensive and customized utility billing solutions that greatly reduce operating costs and promote conservation. Services include utility and ancillary billing, metering equipment installation and maintenance, conservation products and services, daily meter reading, energy procurement, data exchange, contract management and due diligence services. Conservice has operations and sales offices in Arizona, California, Florida, Georgia, Illinois, South Carolina, Texas, Utah, Washington and Toronto, Canada. The company is headquartered in River Heights, Utah. For more information, please visit www.conservice.com.

About Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in over 350 private equity transactions in 41 countries, and, as of December 31, 2019, had $56.8 billion in assets under management. With 15 offices in 12 countries, Advent has established a globally integrated team of over 200 investment professionals across North America, Europe, Latin America, and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology. After 35 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies. For more information, visit: www.adventinternational.com or www.linkedin.com/company/advent-international.

About TA Associates

TA Associates is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – TA invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 500 companies around the world. Investing as either a majority or minority investor, TA employs a longterm approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $33.5 billion in capital since its founding in 1968 and is committing to new investments at the pace of over $2 billion per year. The firm’s more than 85 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA Associates can be found at www.ta.com

Media Contact

For press and media inquiries, please contact:

Doug Jentzsch
djentzsch@conservice.com

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