Select Energy Management M&A Transactions

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Pearce Services Announces Partnership with New Mountain Capital

  • Pearce Services, a provider of operations, maintenance, and engineering services for wireless and wireline telecommunications networks, has partnered with New Mountain Capital.

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Pearce Services Acquires MaxGen Energy Services and World Wind & Solar

  • After announcing its partnership with New Mountain Capital, Pearce announced the simultaneous acquisition of MaxGen Energy Services (“MaxGen”) and World Wind & Solar (“WWS”), leading independent providers of repair and maintenance services for utility-scale renewable wind and solar assets as well as electric vehicle charging station infrastructure.

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AEA Acquires SitelogIQ

  • AEA has acquired SitelogIQ, an independent energy services and facility solutions provider to the municipal, education, health care, housing, retail, hospitality, and commercial and industrial end markets in the United States.
  • The company has expertise with HVAC, LED lighting, solar power, roofing, and windows. SitelogIQ is headquartered in Minneapolis and has more than 700 employees in 30 office locations.

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Boyne Capital Has Acquired Pilot Power Group

  • Boyne Capital has partnered with management to acquire Pilot Power Group, a provider of electric utility billing and data management services, energy portfolio management, and energy procurement strategies for community choice aggregation (CCA), commercial, and industrial customers in the western U.S.
  • Headquartered in San Diego, CA, Pilot Power offers clients custom-tailored services that can lower utility costs, reduce commodity price-related risks, and provide greater procurement flexibility than utility-based suppliers or traditional electricity retailers.

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Clairvest Acquires Solar O&M Business of SunPower

  • Clairvest announced it has acquired the solar operations and maintenance (“O&M”) business of SunPower Corporation (NASDAQ: SPWR). Upon closing, the business will be renamed NovaSource Power Services (“NovaSource”).
  • The transaction is part of Clairvest’s multiyear pursuit to create a market-leading solar O&M platform through a ‘buy-and-build’ strategy. Clairvest is supporting the current leadership team of SunPower’s O&M division in a management buyout, with the management team becoming material shareholders going forward.

Public Market Observations1

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Public Valuation Multiples by Sector1

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1. S&P CapIQ

Public Markets Are Placing Value on the Energy Transition1

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Representative Comps

Energy Management & Building Technology

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1. S&P CapIQ

Continued Momentum in Energy Management Investment Activity

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What We’re Reading

Goldman Sees $16 Trillion Opening as Renewables Pass Oil and Gas

Bloomberg

"Spending on renewable power is set to overtake oil and gas drilling for the first time next year as clean energy affords a $16 trillion investment opportunity through 2030."

"Clean energy could drive $1-$2 trillion a year in infrastructure investment and create 15-20 million jobs globally. Meanwhile the high cost of capital for fossil fuel developments is leading to underinvestment, which could lead to higher oil and gas prices that in turn spur a faster energy transition."

Read the full article here.

Battery Energy Storage Is Getting Cheaper, but How Much Deployment Is Too Much?

Utility Dive

"When asked how to best plan for battery storage in a future power mix, utilities, resource planning consultants, and researchers had the same answer: It depends. The key variables are the system's current and projected renewables and storage penetrations. But drilling into the complexities of planning for the right amount of battery storage in a least-cost future resource mix dominated by renewables revealed critical insights about how to properly value storage for the reliability it provides."

"Planners have made substantial progress in capturing the complex value of battery storage for reliability. Ways to value shorter duration storage in planning are actively being improved, but long-duration storage methods are only developing."

Read the full article here.

Navigating the Energy Transition from Disruption to Growth

Deloitte

"Despite immediate financial pressures, Deloitte’s research suggests that energy and industrials companies will likely continue to prioritize moving to cleaner energy sources in the longer term."

"The energy transition is the transition from hydrocarbon dependence across the economy toward greater reliance on cleaner energy sources. Considerable progress has already been made in the transition to a low-carbon energy future due to economic factors, societal pressure, and new technologies. This report examines progress to date in the energy transition, the decisions management teams in the energy and industrial sectors are facing, and how the current economic downturn and potential low-energy-price environment could affect the transition’s future trajectory."

Read the full article here.

Select Recent M&A Transactions

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Recent Publication: Opportunities in the Energy Transition

Energy Service Companies (ESCOs)

The ongoing shift toward more sustainable energy represents a more than $4 trillion opportunity over the next several decades. Energy service companies (ESCOs) are on the leading edge of this shift, helping a wide range of organizations boost efficiency and cut energy costs.

In this new report, Harris Williams provides an overview of the ESCO segment, including the current market landscape, its ongoing evolution, and key considerations for strategic buyers and financial investors.

Download Report

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Harris Williams Energy Management Overview

HW Energy Management Sector Focus Areas

  • ESCOs
  • Utility Program Management
  • Building Optimization
  • Energy Management Systems
  • LED and Smart Lighting Systems
  • Energy Storage
  • Electric Submeters
  • Demand Response / Smart Grid
  • Billing & Workforce Management
  • Distribution Automation
  • Microgrids / Asset Management
  • EV Charging

Select Recent HW Energy Management Transactions

screen_shot_2020-08-10_at_2.11.08_pm.pngLeading provider of demand-side management (“DSM”) solutions to utility clients

 

 

 

screen_shot_2020-08-10_at_2.12.02_pm.pngProvider of demand response capabilities, energy efficiency projects, and distributed generation assets to identify, optimize, and monetize across distributed energy assets

 

 

screen_shot_2020-08-10_at_2.12.44_pm.pngProvider of integrated software, data and analytics solutions to the global energy market, including financial services, capital markets, and trading and risk professionals

 

 

screen_shot_2020-08-10_at_2.13.32_pm.pngDevelops and markets transportation analysis software for improving traffic flow

 

 

 

screen_shot_2020-08-10_at_2.14.14_pm.pngProvider of integrated cloud-based demand response, energy efficiency, and customer engagement solutions for utility customers

 

 

screen_shot_2020-08-10_at_2.15.05_pm.pngLeading implementer and administrator of energy efficiency programs

 

 

 

screen_shot_2020-08-10_at_2.15.48_pm.pngLeading independent ESCO serving the federal, MUSH, and commercial and industrial end markets

 

 

screen_shot_2020-08-10_at_2.16.30_pm.pngLeading cloud-based provider of energy services management software and behavioral energy efficiency solutions

 

 

screen_shot_2020-08-10_at_2.17.16_pm.pngLeading provider of energy efficiency and renewable energy services in the southwestern U.S.

 

 

screen_shot_2020-08-10_at_2.18.03_pm.pngLeading designer of smart submeter systems and integrated energy intelligence software

 

 

 

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