SCIenergy, Inc., a provider of cloud-based energy management solutions for building owners and operators, today announced it has successfully completed the acquisition of Transcend Equity, a business delivering energy saving retrofits for commercial buildings. The terms of the deal were not disclosed.
As part of the deal, SCIenergy will maintain a joint venture agreement with Mitsui & Co. (U.S.A.), Inc., a leading trade and investment company and committed capital partner of Transcend Equity.
Transcend’s proprietary solution—Managed Energy Services Agreement (MESA™)—pays for a landlord’s energy bill along with major capital investments needed to make buildings more energy-efficient. In return, building owners pay a fee for a fixed period of time, preserving capital resources for their core business activities.
“We are excited to welcome the dedicated and experienced Transcend Equity employees to the SCIenergy team. Transcend is the clear leader in providing sustained energy reductions for portfolio owners and we can’t wait to extend MESA to our key customers and partners,” said Russ McMeekin, president and chief executive officer, SCIenergy. “MESA will leverage applications in the SCIenergy cloud™ to make commercial buildings more digitally aware and to further outperform traditional energy management offerings”.
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