Ameresco, an energy efficiency and renewable energy company based in Framingham, MA, has acquired ESP, an energy management consulting company consisting of The Energy Services Partnership and ESP Response, located in Castleford, UK. The terms of the deal were not disclosed.
Founded in 2002 and incorporated in 2009, ESP is a provider of energy management solutions, including energy supply, invoice management and demand response services for commercial, industrial, manufacturing and utility customers.
“ESP is an exciting addition to the Ameresco family and will expand our enterprise energy management services to help support our multi-national customers that have additional requirements in the United Kingdom,” said George P. Sakellaris, President and Chief Executive Officer, Ameresco. “With this acquisition, we add local expertise to our EEM team and extend Ameresco’s energy supply and information services for our commercial, industrial and manufacturing customers with offices and requirements outside of North America. We look forward to working with the talented ESP team to further develop and cultivate growth opportunities serving not only Ameresco’s multi-national customers’ needs in the United Kingdom, but also ESP’s clients with offices and facilities in North America.”
“The entire ESP team is very pleased with the opportunity to enhance our delivery of sustainable services to our customers as part of Ameresco and to provide our expertise and services to Ameresco’s EEM customers in the United Kingdom,” said Derek Dixon, Chief Executive, ESP. “This acquisition also provides a great opportunity for our customers to benefit from the additional services and resources offered by Ameresco, a leading provider of energy efficiency and renewable energy services.”
Framingham, MA & UK, Castleford, West Yorkshire
Ameresco’s acquisition history
- In July 2012, the Company’s wholly owned subsidiary Ameresco Canada Inc. acquired FAME, a privately held company offering infrastructure asset management solutions serving both public and private sector customers primarily in western Canada. The Company made a cash payment of $4,486,950 to acquire all of the outstanding stock of FAME.
- In December 2011, the Company’s wholly owned subsidiary AIS acquired the xChange Point and energy projects businesses, including automated demand response, from EPS. The Company made an initial cash payment of $4,497,141 to acquire these assets. The purchase price is subject to post-closing adjustments for pro-ration of certain revenue and expense items and for certain indemnity obligations of EPS.
- In August 2011, the Company acquired Ameresco Southwest (then known as APS Energy Services, Inc.) from Pinnacle West Capital Corporation. The Company made a cash payment of $50,057,113 to acquire all of the outstanding stock of Ameresco Southwest.
- In July 2011, the Company acquired all of the outstanding capital stock of AEG for an initial cash payment of $11,993,236. The former stockholders of AEG, all of whom are now employees of the Company, may be entitled to receive up to $5,000,000 in additional consideration if AEG meets certain financial performance milestones.
- In August 2010, the Company acquired Quantum Engineering and Development Inc. (“Quantum”) for an initial cash payment of $6,150,000. During April 2011, the Company made an additional payment of $1,956,366 in accordance with certain provisions of the stock purchase agreement with the former shareholders of Quantum.