Ameresco Acquires ESP and Expands Enterprise Energy Management Services for Multi-National Customers
Ameresco extends its energy supply, invoice management and demand response services internationally for commercial, industrial and manufacturing customers
FRAMINGHAM, MA and CASTLEFORD, UK – June 11, 2013–Ameresco, Inc. (NYSE: AMRC), a leading energy efficiency and renewable energy company, announced today thatit hasacquired ESP, an energy management consulting company consisting of The Energy Services Partnership and ESP Response, located in Castleford, United Kingdom. With this acquisition, Ameresco adds a local presence in the UK, expertise and seasoned energy industry professionals to support multi-national Enterprise Energy Management (EEM) customers.
In the United Kingdom, ESP is a leading provider ofinnovative energy management solutions, including energy supply, invoice management and demand response services for commercial, industrial, manufacturing and utility customers. ESP shares Ameresco’s passion for and commitment to providing innovative energy services and renewable solutions while relentlessly focusing on customer satisfaction. Consistent with one of Ameresco’s key competitive advantages, ESP is also supplier independent and, as a result, able to select the most cost effective and tailored solutions for its customers. Ameresco already provides an extensive portfolio of innovative energy efficiency and renewable energy solutions, as well as energy procurement services similar to ESP’s, to clients across the United States and Canada.
“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.”
Ameresco’s Enterprise Energy Management services group offers both demand- and supply-side services that enable commercial, industrial and manufacturing customers to meet their sustainability goals. EEM services include energy supply procurement and risk management, automated demand response, energy information and utility bill management, carbon tracking and sustainability reporting, and xChangePoint®, an integrated software-as-a-service energy efficiency solution that blends real time data, a structured opportunity workflow process, a rich dashboard environment, and dedicated Ameresco engineering resources that identify, quantify, and manage opportunities into energy savings for the enterprise.
Terms of the transaction were not disclosed.
Founded in 2002 and incorporated in 2009, ESP provides innovative energy solutions including comprehensive utility risk management, strategy and consultancy services. ESP is completely independent of all suppliers, which leaves the Company free to select the most cost effective and tailored solution for our clients. Combining financial, capital market and energy trading expertise with an intimate understanding of the wholesale energy markets, ESP helps clients proactively manage their energy exposure and work to enhance each client’s bottom-line, corporate valuation and management reputation. ESP assists clients to buy smarter without increasing greater levels of price uncertainty; reduce overall energy usage without adversely impacting operational performance; and reduce their carbon footprint without increasing the cost of doing business. ESP is committed to being a sustainable enterprise incorporating social responsibility and environmental sustainability. ESP has 20 employees and is located in Castleford, UK. For more information, visit www.energyservicespartnership.co.uk.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for facilities throughout North America. Ameresco’s services include upgrades to a facility’s energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco provides local expertise through its 66 offices in 34 states and five Canadian provinces. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.
Safe Harbor Statement
Any statements in this press release about future expectations, plans and prospects for Ameresco, Inc., including statements about the expected benefits of the acquisition and estimated future results, as well as other statements containing the words “projects,” “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including Ameresco may be unable to successfully operate the acquired businesses to achieve the expected financial results; Ameresco may be unable to retain and maintain relationships with key employees, customers and other strategic partners of the acquired businesses, as well other factors discussed and detailed from time to time in reports filed by Ameresco with the U.S. Securities and Exchange Commission on Forms 10-K and 10-Q. In addition, the forward-looking statements included in this press release represent Ameresco’s views as of the date of this press release. Ameresco anticipates that subsequent events and developments will cause its views to change. However, while Ameresco may elect to update these forward-looking statements at some point in the future, it specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Ameresco’s views as of any date subsequent to the date of this press release.