CLEAResult acquires Green Team Energy Services

clearesult_logoCLEAResult, a provider of energy efficiency services in North America, has acquired Green Team Energy Services, a provider of digital, cloud-based energy efficiency and demand side management (DSM) software that leverages the Salesforce.com CRM platform. The terms of the deal were not disclosed.

dsmtracker_4302013Green Team’s cloud based software, DSMTracker, will be incorporated into CLEAResult’s residential, commercial and industrial, and marketing offerings. CLEAResult will also offer DSMTracker as a standalone software platform. Several utility companies, including Duke Energy and Alameda Municipal Power, have adopted DSMTracker to automate key aspects of their DSM programs, including program planning and design, marketing, tracking, execution, electronic rebate processing, document management and reporting.

 

Green Team was founded in 2013 and is headquartered in Atlanta. All of Green Team’s employees will join CLEAResult.

“As our clients’ industry evolves, leading-edge technology applications for energy efficiency have taken on tremendous importance in terms of creating differentiated experiences and customer growth,” said Aziz Virani, CLEAResult CEO. “This technology investment will allow us to further increase the value we are able to create for our clients as the leading provider of energy efficiency programs, and reflects our continued commitment to bring innovative technologies and capabilities that will help our utility clients succeed.”

 

USA, Austin, TX & Atlanta, GA

Independent British energy supplier Ovo acquires U.S. smart grid technology company VCharge

ovoOVO Energy, a UK based independent energy supplier, has acquired of US energy technology company, VCharge. Headquartered near Boston, VCharge has developed a proprietary technology platform that changes how electric grids are controlled in preparation for the rapid transition to renewable energy and energy storage, helping to solve the problem of renewables intermittency. The terms of the deal were not disclosed.

vchargeThe groundbreaking technology uses advanced algorithms to balance grid requirements with individual user requirements.  The first application of the pioneering technology controls electric storage heating in social housing to better manage resident comfort and to address the issue of fuel poverty in local communities, while simultaneously supporting the widespread adoption of renewable energy by providing valuable grid balancing services.

VCharge heating controls are fitted to new or existing electric storage heaters and can be controlled via a smartphone.  When coupled with a new smart tariff, residents experience dramatically improved comfort, lower bills and have control over their heating systems for the first time.

VCharge has completed a number of successful trials of the technology over the last year with major social housing landlords in London, Scotland and the North East, and, with OVO, will begin offering free heating control upgrades combined with a new smart energy tariff to the 1.5m households in Great Britain with electric storage heaters later this year.

The acquisition is the first in OVO’s seven year history.

Stephen Fitzpatrick, CEO of OVO, said: “I’m thrilled to bring VCharge into the OVO family. The team have been doing incredibly exciting and important work in developing technologies that answer the enormous challenge of how to bring more renewable energy to grids around the world. We believe this platform will harness the potential of energy storage in reducing dependency on fossil fuels, while helping to make energy more affordable for all.”

UK, Bristol & USA, Boston, MA

The Anthesis Group acquires energy and carbon management solutions provider Sustain

anthesis-logoThe Anthesis Group, a sustainability services and solutions provider, has acquired Sustain, the Bristol-based energy and carbon management solutions provider. This is the tenth acquisition since the formation of Anthesis in September 2013. The terms of the deal were not disclosed.

Sustain is a UK energy and carbon management company dedicated to providing cost and carbon efficiencies. Through a team of expert engineers, consultants and project managers Sustain design, deliver and manage energy resources for clients in public and private sector organizations.

Stuart McLachlan, CEO of Anthesis Group, said “Joining forces with Sustain allows us to enhance the Group’s offering in the energy efficiency market, an area where we are seeing particular growth. We are now able to support our clients in the end-to-end design and implementation of energy and carbon management projects”; he continued “there are great synergies for Anthesis and Sustain, with strong alignment between our delivery ethos and driving business value through sustainability.”

Tobias Parker, Managing Director of Sustain remains with the company and will join The Anthesis Group board.

UK, Oxford & Bristol

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Bellrock completes five acquisitions – Concerto, Stanley Hicks, Property Solutions, Dawn and RBK Mechanical

Property and facilities management business Bellrock has completed five add-on acquisitions in just three months.

The company has acquired Concerto, Stanley Hicks, Property Solutions, Dawn and RBK Mechanical

Leicester based Bellrock is backed by private equity firm Lyceum Capital. The terms of the deals were not disclosed.

The acquired businesses:

  • Concerto, a software business focussed on the Facilities, Property and Asset management space. Concerto’s software will continue to be sold on a stand-alone basis and is also being integrated into Bellrock’s core operations.  Concerto adds contracts from the Public Sector and retailers such as John Lewis and Poundland.
  • Property Solutions, consultants on commercial service charges for properties. The acquisition will add blue chip companies such as BT, WPP and Lloyds Banking Group to its client list.
  • Stanley Hicks, a firm of Chartered Surveyors, offering commercial property advice. Established for over 100 years, Stanley Hicks has relationships in the non-profit and education sectors.
  • Dawn, facilities management business with long-term public sector Facilities Management contracts.
  • RBK Mechanical, carries out nationwide heating ventilation and air-conditioning (HVAC) maintenance.

Jeremy Hand, Managing Partner of Lyceum said, “Bellrock continues to disrupt the Property and Facilities Management space, offering its customers a radically improved service.  We are excited about Bellrock’s future following its recent acquisitions, together with potential add-ons that are in the pipeline, as well as further planned organic investment.”

David Smith, CEO, Bellrock added: “Our recent acquisitions continue the transformation of Bellrock and further help in the delivery of a whole new customer experience. Lyceum’s continuing vision and support were instrumental in bringing these acquisitions to fruition.”

UK, Leicester

 

Hansen acquires PPL Solutions

Hansen Technologies Limited has acquired PPL Solutions, LLC from NYSE listed PPL Corporation). The purchase price is expected to represent approximately 4 times Solutions’ EBITDA, and will be funded from Hansen’s internal cash resources.

Headquartered in Bethlehem, Pennsylvania, PPL Solutions provides billing, business processing outsourcing (“BPO”), call centre and information technology services to competitive electric and gas suppliers and regulated utilities in the US. The business has 230 staff, with the majority of these located at PPL Solutions’ call centre facility in Hazelton, Pennsylvania.

PPL Solutions is a strategically attractive business that is strongly aligned with Hansen’s key acquisition criteria: it sits within Hansen’s core billing & customer care business; owns the intellectual property in its billing software; has recurring revenue streams; and extends Hansen’s footprint into a new market segment in the US. The PPL Solutions business adds business process outsourcing, customer care and Software-as-a-Service to Hansen’s portfolio of Electricity, Gas and Water products.

PPL Solutions is expected to represent approximately 7% of the combined Hansen worldwide EBITDA. Given the BPO nature of the Solutions business and the services provided, the business operates on margins below  those historically achieved by Hansen.

Australia, Victoria & USA, Bethlehem, PA

RPS Group acquires DBK Partners for £13M

RPSlogoRPS Group plc has acquired DBK Partners Limited for £13 million. Consideration paid to the vendors at completion was £6.6 million.  In addition £4.0 million of shareholder loans to the company were settled by RPS.  Subject to certain operational conditions being met, two further sums of £1.2 million each will be paid to employee vendors on the first and second anniversaries of the transaction.

Founded in 2005, DBK has its headquarters in Birmingham, with other offices in London, Manchester and Bournemouth. The company is a project management consultancy in the UK and employs about 120 staff.  It undertakes projects primarily for private sector clients in the property development industry in the UK.  

The company was owned by 14 shareholders, including a significant external investor.  All the employee shareholders are remaining with the business.  The three main director shareholders have signed three year employment agreements.

In the year to 31 December 2015, DBK had revenues of £12.1 million and profit before tax of £2.0 million, after adjustment for non-recurring items. Net assets at 31 December 2015 were £0.5 million.  Gross assets at 31 December 2015 were £8.1 million.

UK, Abingdon, Oxfordshire & Birmingham

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Smart Metering Systems acquires two meter suppliers and IT specialist for up to £6.895 million in shares 

SMSSmart Metering Systems plc (SMS) has acquired three companies: CH4 Gas Utility and Maintenance services Limited, Trojan Utilities Limited and Qton Solutions Limited for a total consideration of up to £6.895 million.

CH4 will add approximately 100 engineers and 60 contractors, of whom approximately 40 are domestic smart gas and electricity installation engineers, alongside the approximately 80 domestic smart gas and electricity installation engineers from Trojan Utilities, which will significantly enhance SMS’ capability. Out of the approximately 1.6 million domestic smart meters installed so far in the UK, they together represent approximately 23% (368,000) of that figure, independent of SMS. Alongside these installation businesses, IT systems specialist Qton Solutions will help to serve SMS’ existing and future contractors, most of whom use its systems already.

 CH4 Gas Utility and Maintenance Services Limited

CH4 is a specialist in traditional and smart gas and electricity metering installations to the domestic and I&C sectors. It operates throughout the UK and is a current service provider to SMS.

Established in 2011, for the year ended 28 February 2015, CH4 reported turnover of £7.64 million with gross profit of £2.95 million and EBITDA (after exceptional items) of £0.89 million.

The initial consideration for CH4 is up to £2 million in SMS shares. In addition, a further up to £0.995 million may be payable through an earn out over three years.

Trojan Utilities Limited

Trojan Utilities is an installation service provider to energy suppliers in the UK and delivers domestic smart gas and electricity trained and accredited installation services. Established in 2011, Trojan Utilities has over 80 fully trained engineers operates throughout the UK and has installed over 270,000 gas and electric domestic smart meters, representing over 17% of the national smart metering installed to date. It is currently installing over 3,000 domestic smart meters per week outside of its SMS business. 

For the year ended 31 October 2014, Trojan Utilities recorded turnover of £2.86 million with gross profit of £1.26 million and EBITDA of £0.5m. Trojan Utilities has seen additional growth in 2015 with estimated turnover for year ended 31 October 2015 of £5.76 million, gross profit of £2.13 million but with a reduced EBITDA of £0.067 million as a result of increased investment in operational capacity and UK-wide infrastructure.

The initial consideration for Trojan Utilities is up to £0.5 million and is SMS shares. In addition, a further up to £0.5 million may be payable through an earn out over the three years. 

Qton Solutions Limited

Established in Cambridge in 2009, Qton Solutions has a team of 17 IT professionals specialising in the provision of work and field management IT systems applications for gas and electricity metering installations for energy suppliers, installation contractors and meter asset managers and owners in the UK with specific applications tailored for domestic dual fuel smart installations. 

These systems have already been responsible for the completion of over 1 million meter installations and are widely used by a number of domestic smart meter installers, energy suppliers, and meter asset owners and managers including SMS. 

For the year ended 31 March 2015, Qton Solutions reported turnover of £0.99 million with gross profit of £0.34 million and EBITDA (after exceptional items) of £0.23 million, backed with annually recurring licence fee income on it software products of over £0.8 million. 

The consideration for Qton Solutions is up to £2.9 million in SMS shares.

Commenting on the acquisitions, Alan Foy, Chief Executive Officer, said:

“The acquisitions of CH4 and Trojan Utilities are part of the Company’s strategy to gain direct control of a large proportion of our installation capacity for ongoing delivery of our customer contracts in the I&C and domestic meter markets. This will provide confidence to customers in our delivery model for the new domestic smart metering market. In addition, the acquisition of Qton Solutions allows us to gain direct control and ownership of all software applications used by SMS.”

UK, Glasgow

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