Ameresco Acquires UK Energy Services Provider Energyexcel

Ameresco, Inc. an energy efficiency and renewable energy company, this week announced it has acquired the energy consultancy and energy project management business of Energyexcel LLP, an independent energy services provider located in Central London, United Kingdom.

With this acquisition, Ameresco adds to its local presence in the UK and commercial and industrial (C&I) customer base having purchased Energy Services Partnership (ESP), one of the UK’s leading providers of innovative energy management solutions.

The two UK-based businesses, each a UK Energy Consultant Award recipient, provide complementary energy efficiency, supply management and sustainability services. Together they broaden Ameresco’s international expertise and service offerings for multi-national customers, and augment Ameresco’s team with seasoned energy industry professionals locally.

“We look forward to having the Energyexcel team join the Ameresco family, further supporting our commitment in the UK market and expanding our capabilities and value-added services to serve local and multi-national commercial, industrial and manufacturing customers in North America and Europe,” said David J. Anderson, Executive Vice President, Ameresco in a press release. “Our acquisition of the Energyexcel business, combined with the capabilities of our recent acquisition of ESP, allows Ameresco to provide a comprehensive range of energy efficiency, renewable energy solutions and intelligent energy management services, addressing both sides of the customers’ meter, including energy supply, demand response, real-time energy data information and analytics, and utility invoice management. The experience and capabilities of these award-winning organizations allows Ameresco to advance its geographic expansion abroad while increasing our business in the C&I space.”

Energyexcel’s efficiency and project management services help C&I customers improve performance of existing energy systems, introduce new energy-efficient technologies and onsite generation, institute energy monitoring and targeting (M&T), reduce carbon emissions and track sustainability initiatives, comply with energy and climate change requirements, and realize energy cost savings to improve business performance. Some current Energyexcel customers include a large UK-based pharmaceutical company, four of the five largest supermarket chains in the UK, and a multinational chocolate bar manufacturer.

“The whole team at Energyexcel is excited by the opportunities presented by joining forces with Ameresco,” said Tony Coleman MA MSc CEng MEI MInstR, Managing Director, Energyexcel LLP in a press release. “We look forward to working with the Ameresco team to deliver greater value to our clients by widening the scope and capacity of the service we can offer. We believe that this deal is good news for our clients and our staff.”

Coleman said “As a management team we are impressed by the immediate understanding that Ameresco has demonstrated of our business and our competitive position. We are also impressed by the enthusiasm that they have to help us grow the combined UK business to become a prevailing force this side of the Atlantic as Ameresco is in the U.S.”

Energyexcel and ESP share Ameresco’s passion for and commitment to providing innovative energy services and renewable solutions while relentlessly focusing on customer satisfaction. Consistent with one of Ameresco’s key competitive advantages, Energyexcel is an independent energy services provider and ESP is supplier-independent. As a result, each is able to select the most cost effective and tailored solutions for its customers. Ameresco already provides an extensive portfolio of innovative energy efficiency and renewable energy solutions, as well as energy procurement services similar to Energyexcel and ESP’s, to customers across North America.

Terms of the acquisition were not disclosed.

Ameresco does not anticipate the acquisition will have a material effect on its 2014 results, subject to finalization of purchase accounting.

Ameresco expects to provide a further update on its third quarter earnings conference call.

Energyexcel was founded in 2007 by five experienced energy industry specialists with a long-term vision to provide clients with high-quality, innovative engineering solutions.

ESP was acquired by Ameresco in June, 2013. Founded in 2002 and incorporated in 2009, ESP provides innovative energy solutions including comprehensive utility risk management, strategy and consultancy services. ESP is completely independent of all suppliers, which leaves the Company free to select the most cost effective and tailored solution for its clients.

Founded in 2000, Ameresco, Inc. an independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for facilities throughout North America. With its corporate headquarters in Framingham, Ameresco provides local expertise through its 69 offices in 34 states, five Canadian provinces and the United Kingdom. Ameresco has more than 900 employees.