E.On to acquire UK energy management and efficiency firm Matrix

German utility E.On has agreed to acquire UK energy management and efficiency firm Matrix. the terms of the deal were not disclosed. The transaction needs the go-ahead from Austrian competition watchdogs and is expected to close next month.

Founded in 2003, Matrix helps businesses reduce their electricity consumption in offices and other commercial buildings by up to 40 per cent by using data stored in its energy management centre.

The energy management centre, which is located in Glasgow, creates a virtual image of the company based on this information which is then analysed to pre-empt any wastage, and currently has 31,000 data connections to customer sites in 22 countries globally.

Matrix employs around 340 staff throughout nine sites in the UK, including its headquarters in Bury.

Herve Touati, chief executive of E.On Connecting Energies which is making the acquisition on behalf of its parent, observed that in addition to expanding its presence in the energy efficiency market, the acquisition bolsters its existing portfolio of services.

He went on to say: “We see tremendous opportunities from the combination of Matrix’s deep data-led building energy expertise with our capital-led energy efficiency and on-site generation capabilities. This will allow us to provide our customers in the UK and continental Europe much greater control of their energy cost.”

In May last year there were media reports that Matrix investor Lloyds Development Capital (LDC) was looking at selling its stake in the company valued somewhere between GBP 60.00 million and GBP 80.00 million. At the time, the Bury-based business had earnings before interest, taxes, depreciation and amortisation of around GBP 8.00 million, according to sources.

LDC, the private equity arm of Lloyds Banking Group, bought a stake in Matrix for GBP 10.00 million in 2010 when the firm was known as Green Sky Energy.

Germany, Düsseldorf & UK, Bury

Ameresco acquires UK energy management business ESP

amerescoAmeresco, 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.