Ameresco Canada Inc. Acquires FAME Facility Software Solutions, Inc.
Ameresco Expands its Asset Planning Consulting and Software Services Offering for Commercial, Industrial, K-12 Schools, Public Housing, Municipal and Government Customers
Framingham, MA and Calgary, Canada – August 8, 2012 – Ameresco, Inc. (NYSE: AMRC) a leading energy efficiency and renewable energy company, announced today that its wholly owned subsidiary, Ameresco Canada Inc., has acquired FAME Facility Software Solutions Inc. FAME, a leading provider of asset management solutions, helps customers assess the condition of their facilities, plan energy management and capital improvements, and refine operations and maintenance strategies. FAME Facility Software allows customers to track their operation’s workflow and energy use and manage their capital renewal processes. The addition of FAME’s software capabilities to Ameresco’s Asset Sustainability platform will provide an enhanced offering to those charged with managing complex infrastructure portfolios. The full-service facilities management suite will address comprehensive aging infrastructure challenges and offer asset sustainable solutions and strategies in support of environments where capital funds are required.
“With the acquisition of FAME, Ameresco looks forward to offering a full suite of innovative software tools to complement our core energy services and support our customers’ capital investment decision-making,” stated George P. Sakellaris, president and chief executive officer of Ameresco. “FAME’s solid expertise implementing K-12, municipal and government projects further enhances Ameresco’s presence in a variety of markets. We look forward to working with the talented FAME team to cultivate these growth opportunities.”
"The entire FAME team is very excited to be part of the Ameresco family,” said Steve Cripps, president of FAME Facility Software Solutions Inc. “The synergies realized are remarkable. Our existing FAME clients can be assured that our industry leading software platform will continue to provide the high level of service and support they have come to expect and rely on, and with the backing of Ameresco offer new value to both existing and future clients. We have a great opportunity to introduce our software services to Ameresco’s customers and Ameresco’s comprehensive energy solutions to our customers.”
The ever increasing energy costs, budgetary constraints, aging infrastructure, and a greater awareness of the benefits of energy efficiency should continue to drive demand for energy efficiency projects and renewable energy solutions. Ameresco has implemented over $3 billion in energy saving projects for its customers throughout North America. Budget-neutral energy efficiency projects and renewable energy solutions reduce operating costs and carbon footprint without impacting capital budgets.
Ameresco’s Asset Sustainability platform and FAME’s innovative asset management software solution helps capital planners develop strong business cases for funding, enhance risk management capabilities, understand the implications of deferrals resulting from constrained budgets, and manage day to day operations.
Operations will continue from FAME’s Calgary, Canada location. Terms of the transaction were not disclosed.
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 63 offices in 34 states and five Canadian provinces. Ameresco has more than 900 employees. For more information, visit www.ameresco.com.
About Ameresco Canada, Inc.
Ameresco Canada, Inc., a wholly owned subsidiary of Ameresco Inc. (NYSE:AMRC), is a full service energy management company that provides sustainable solutions and facility renewal services to new and existing facilities, as well as asset planning and energy and capital solutions to customers in the education, public housing, federal and provincial governments, municipalities, healthcare, industrial and commercial sectors. Ameresco Canada strives to present its clients with state-of-the-art renewable and sustainable solutions that reduce greenhouse gas emissions, conserve resources and reduce dependence on costly, non-renewable solutions by utilizing green design and construction as well as clean technologies such as solar, wind, geothermal, landfill gas, biomass, biogas and hydroelectric. For further information, visit www.ameresco.ca.
About FAME Facility Software Solutions Inc.
FAME Asset Management Solutions, headquartered in Calgary, Alberta Canada, has provided infrastructure asset management solutions with over 8,000 client users in both the public and private sector for over 15 years. FAME provides expert consulting and technology resources to assist clients with their facility asset management planning, operations, analysis, reporting, and infrastructure auditing and knowledge management technology. For more information, visit http://www.fameassets.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 business 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 business; Ameresco may be unable to successfully integrate FAME’s software offering with its Asset Sustainability services or cross-sell services as expected, 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.