World Energy Solutions, a energy management services firm, has acquired GSE Consulting, a Texas based energy management and procurement company, for approximately $8.6 million at closing plus a potential earn-out. The acquisition provides World Energy a major foothold in Texas, the largest de-regulated electricity market in the U.S., and a significant presence in the fast-growing small and medium-sized market. World Energy expects the transaction to positively impact top-line revenue, EBITDA and backlog in 2012.
“With GSE, we gain a proven winner in the competitive Texas marketplace with a large pool of customers and a top flight sales team,” said Richard Domaleski, CEO of World Energy Solutions. “This transaction caps off a series of strategic acquisitions we have made over the last several weeks that we believe are ‘game-changing’ for us. Together these moves advance our consolidation of the energy procurement space, broaden our customer target set and geographical reach, and increase our energy management capabilities. Consolidating these companies will accelerate our growth and enhance our EBITDA margins.”
Added Brian Dafferner, President, GSE: “We see tremendous upside for our customers and employees in joining forces with a national leader like World Energy. The Company’s vision for lowering total energy costs, and its ability to execute that vision, will be well received by the hundreds of businesses we serve. Not only do we see an opportunity to cross-sell new services into our existing customer base, but we believe our knowledge and relationships will help World Energy penetrate additional Texas-based and national accounts.”
GSE was formed in 2002 following the inception of electricity deregulation in Texas. World Energy will retain the services of more than 20 GSE employees across three offices: Dallas, Fort Worth and Houston.
Today’s deal is the third deal World Energy deal reported by Fusion DigiNet in seven weeks. See also the acquisitions of energy procurement business Co-eXprise and energy efficiency firm Northeast Energy Solutions.
USA, Dallas, TX & Worcester, MA
- World Energy Solutions acquires energy efficiency firm Northeast Energy Solutions Posted on October 26, 2011
- World Energy Solutions acquires Co-eXprise’s energy procurement business Posted on September 14, 2011