FORT LAUDERDALE, Fla., Jan. 15, 2021 /PRNewswire/ -- 47 Capital Management (www.47mgmt.com) today announced the signing of definitive agreements with Drop My Fees LLC ("DMF" or the "Company") to provide financing for savings projects, working capital, and expansion plans (the "Transaction"). The Company, founded and managed by Jared Hollander, is a full-service utilities savings company focused on providing audits, products, and financing that results in utilities cost savings to customers throughout the Southeastern United States. As part of the Transaction, 47 Capital Management, through an affiliate, will provide financial consulting services to the Company. The transaction is expected to close by January 15, 2021, or sooner, upon completion of standard closing requirements.
"We are thrilled to partner with Jared and the team, and we look forward to working with them to execute on growth and expansion plans. In addition to their deep industry experience, they have a proven track record of executing on successful projects that provide real savings to customers," Richard Shuster, 47 Capital Management's Managing Partner, said in the release.
"With this investment, we will have the resources needed to execute on our ambitious expansion plans into other areas and industry verticals. We are incredibly excited to have Richard and 47 Capital Management on board and look forward to continuing to provide savings value to our customers," Jared Hollander, the Company's Founder and Chief Executive Officer, said in the release.
About 47 Capital Management
47 Capital Management is an operationally focused private investment firm based in Fort Lauderdale, Florida. The firm specializes in making direct debt, equity, and hybrid investments into private operating companies, real estate, and special assets. The firm's strategic resources consist of family offices and LP investors and operators with experience spanning multiple geographies, industries, and disciplines.
About Drop My Fees
Drop My Fees is an industry-leading water conservation firm serving condominium associations nationwide by helping them reduce their water consumption and lowering their water bills. Through two comprehensive programs, Drop My Fees offers both auditing and complete energy conservation shared-savings programs at no cost to their clients.
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SOURCE 47 Capital Management
