Just months after global energy consultants M&C Energy Group opened their first US office in Atlanta, Georgia, it has moved quickly to expand its USA footprint and strengthen its market position with the acquisition of energy consultancy service Coleman Hines, headquartered in Phoenix, Arizona.
Coleman Hines, founded in April 2000, provides energy consultancy services to many National Fortune 500 clients at nearly 35,000 sites covering all US states and Canada, particularly in the retail, restaurant, and commercial sectors. They will become part of M&C Energy Group’s growing worldwide organisation which already has 18 offices in 13 countries and clients in 40 countries.
Mark Dickinson, CEO M&C Energy Group, said: “Bringing M&C Energy Group and Coleman Hines together now creates an exciting prospect within the energy consultancy sector in North America. Not only will they increase our reach in North America, but Coleman Hines provides M&C with a number of exciting products and services specifically developed for the local markets, which will strengthen our portfolio of services. While M&C is a well-known industry-leader around the world, the North American market is relatively new to us and bringing Coleman Hines on board will strengthen our foothold and market position there.”
UK-based mid-market growth investor, Lyceum Capital, acquired M&C Energy Group for £22 million in 2010 and, since then, has implemented a rigorous programme of operational enhancement and supported a number of strategic acquisitions.
Dan Adler, Partner at Lyceum and M&C board member, said: “Coleman Hines is a well-established energy advisory firm of scale with an outstanding client retention rate and a highly progressive management team. The company’s services are closely aligned to those of M&C and so it presents the ideal platform for the wider Group to develop its North American proposition and gain market share in the country’s growing energy consultancy sector, which remains highly fragmented. The US is a key market for M&C’s services and, with a number of significant contracts already in the pipeline for the enlarged business, there is a compelling case for the firm’s North American expansion.”
The addition of Coleman Hines the latest in a line of acquisitions by M&C. In 2010 they acquired Utility Masters Ltd in the UK (a deal brokered by Fusion Corporate Partners), ETT GmbH in Germany, Creative Energy Solutions in Australia, and Encore International Ltd in the UK and in Hungary (also brokered by Fusion Corporate Partners).
Recently M&C added a Brisbane office to their Australian operation to complement their existing Melbourne office. A New Zealand office is expected to open in the Spring of 2012.
UK, Dunfermline & USA, Phoenix, AZ
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