Ameresco Announces Acquisition of Enerqos to Expand Presence in Europe
Cleantech Integrator Signs Agreement to Acquire Milan-based Energy Efficiency and Renewable Energy Company
FRAMINGHAM, M.A. AND MILAN, Italy – February 27, 2023 – Ameresco, Inc., (NYSE: AMRC), a leading cleantech integrator and renewable energy asset developer, owner and operator, today announced the signing of a definitive purchase and sale agreement to acquire ENERQOS Energy Solutions S.r.l., a renewable energy and energy efficiency company headquartered in Milan. With this acquisition, Ameresco will be able to expand its portfolio of clean energy projects and solutions throughout Italy.
Enerqos has been operating for more than 15 years with the mission of taking care of the environment by offering a competitive advantage to Italian companies through energy efficiency and renewable energy solutions. They have a large portfolio of cost saving and carbon reduction projects across multiple markets in Italy, including healthcare, real estate, retail and residential.
Ameresco already offers clean energy solutions in several European countries, including the United Kingdom, Ireland and Greece. By applying Ameresco’s well-established business model and ENERQOS’ regional reach, expertise and scale, Ameresco’s acquisition is well-positioned to build a high-growth clean energy solutions business and pipeline across Europe.
“We are extremely pleased to be part of this acquisition combining two companies across the globe into a singular mission for customers seeking to install resilient and renewable energy infrastructure,” said Lars Meisinger from Aquila Capital, financial advisor to the seller. “It was a great pleasure to work alongside the Ameresco team on this opportunity, positioning us for additional partnerships in the future.”
“This acquisition further strengthens Ameresco’s global presence by expanding our footprint and adding a new pipeline of work throughout Italy,” said George Sakellaris, President and CEO of Ameresco. “Ameresco’s mission is to create a more sustainable future for our customers, and we see the acquisition of ENERQOS as extending our proven track record of providing significant renewable energy and energy efficiency solutions to entities across North America and Europe that increase energy savings and lower carbon emissions.”
“It is with great excitement that we enter into this next phase of our business. Enerqos was built on a commitment to developing renewable energy solutions and establishing emission reduction targets, so as to usher in a greener, better future for all,” said Enrico Giglioli, CEO of ENERQOS. “As a leader in the cleantech space, Ameresco shares this belief and has a demonstrated history of implementing innovative technologies that deliver clean energy and enhance overall security, reliability, and resiliency.”
The acquisition is expected to close in March 2023. The financial terms of this acquisition were not disclosed. Included in our guidance, this small and opportunistic acquisition will further our footprint in Europe.
To learn more about Ameresco and the company’s clean energy solutions, visit www.ameresco.com.
About Ameresco, Inc.
Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading cleantech integrator and renewable energy asset developer, owner and operator. Our comprehensive portfolio includes energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions delivered to clients throughout North America and Europe. Ameresco’s sustainability services in support of clients’ pursuit of Net Zero include upgrades to a facility’s energy infrastructure and the development, construction, and operation of distributed energy resources. 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 has more than 1,000 employees providing local expertise in the United States, Canada, and Europe. For more information, visit www.ameresco.com.
Forward Looking Statements
Any statements in this release about future expectations, plans and prospects for Ameresco, Inc., including statements about the expected timing and impact from the Enerqos acquisition and 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 those discussed in our most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. The forward-looking statements included herein represent our views as of the date hereof. These forward-looking statements should not be relied upon as representing our views as of any date subsequent to the date hereof.