Select Harris Williams Transactions

screen_shot_2019-04-09_at_10.43.02_am.pngProvider of demand response capabilities, energy efficiency projects and distributed generation assets to identify, optimize and monetize across distributed energy assets

 

 

 

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Provider of integrated software, data and analytics solutions to the global energy market including financial services, capital markets and trading and risk professionals

 

 

 

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Develops and markets transportation analysis software for improving traffic flow

 

 

 

 

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Provider of integrated cloud-base demand response, energy efficiency and customer engagement solutions for utility customers

 

 

 

 

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Leading implementer and administrator of energy efficiency programs

 

 

 

 

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Leading independent ESCO serving the Federal, MUSH and commercial and industrial end markets

 

 

 

 

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Leading cloud-based provider of Energy Services Management software and Behavioral Energy Efficiency solutions

 

 

 

 

screen_shot_2019-04-09_at_10.48.39_am_0.pngLeading provider of energy efficiency and renewable energy services in the Southwestern U.S.

 

 

 

 

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Leading designer of smart submeter systems and integrated energy intelligence software

 

 

 

 

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Manufacturing process automation technologies for energy storage and other applications

Select Energy Management M&A Transactions

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Willdan Group Acquires The Weidt Group | Energy Efficiency

  • Willdan Group completed its acquisition of The Weidt Group, a leading energy analysis and consulting firm
  • Founded in 1977, The Weidt Group account for and manage the environmental impacts of building design and construction, and through collaboration with architects, engineers, building owners, product manufacturers, utilities and government clients implements strategies for building lifelong energy performance through benchmarking, verification and software development
  • This acquisition expands Willdan’s presence in the upper Midwest and better positions the company to help utilities make their grids more resilient

 

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Shell New Energies Acquires sonnen | Energy Storage

  • Shell has acquired sonnen, a leader in smart energy storage systems and innovative energy services for households
  • sonnen offers smart energy storage to customers and offers digital energy services via its sonnenCommunity platform and has been a pioneer in the energy market by combining its technology with new business models for a decentralized energy system
  • Shell’s acquisition will  accelerate the building of a customer-focused energy system in support of Shell’s strategy to offer more and cleaner energy solutions to customers

 

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Ara Partners Makes Significant Investment in Priority Power | Energy Management

  • Ara Partners has provided a significant investment in Priority Power, an independent energy management services and consulting firm headquartered in Midland, Texas
  • Priority Power, which was founded in 2001, navigates over 1,300 clients through complex and evolving energy procurement and management situations by offering innovative power solutions, including energy supply & risk management, demand response, and infrastructure solutio

 

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Greenlots acquired by Shell New Energies| EV Charging

  • Greenlots, a US-based leader in electric vehicle (EV) charging and energy management software and solutions, has signed an agreement to become a wholly owned subsidiary of Shell New Energies
  • The companies will offer best in class software and services that enable large-scale deployment of smart charging infrastructure and integrate efficiently with advanced energy resources like solar, wind and power storage
  • While retaining its brand identity and leadership team, Greenlots will intensify its growth efforts and expand its range of mobility services to utilities, cities, automakers, fleets and drivers around the world

 

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Bureau Veritas Acquires Capital Energy | Energy Efficiency

  • Capital Energy provides consulting and support services for white certificate projects in France with its customer base comprising of energy suppliers and large retailers
  • Founded in 2010, Capital Energy also helps housing organizations, local authorities, industry and building contractors to implement energy efficiency programs
  • This acquisition enables Bureau Veritas to expand its range of energy efficiency services for the building and industrial asset sector

Subsector Spotlight: Energy Efficiency Program Management

We first published a whitepaper on the energy efficiency program management industry in 2010 amid the sector’s rapid growth.  We updated that report in 2017 and noted that while industry growth had decelerated from its early days, it was poised for sustained and continued growth through the next decade. That view has been affirmed by several recent reports (links below) examining the long-term potential for the sector.

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The Edison Foundations Institute for Electric Innovation | Energy Efficiency Trends in the Electric Power Industry

  • “Energy efficiency programs are an essential component of an ever-expanding set of customer energy solutions—high-efficiency lighting, smart thermostats, dynamic rates, clean energy options, energy storage, and more.”
  • “By taking a portfolio approach, electric companies are offering easily accessible tried and true programs, such as high efficiency lighting and HVAC tune ups, to an increasing share of customers, while also increasingly offering programs that achieve deep, comprehensive energy savings in homes and buildings, by leveraging data, price signals, and connected technologies to manage energy.”

Lawrence Berkeley National Laboratory | The Future of U.S. Electric Efficiency Programs

  • Updates the analysis of LBNL’s 2009 and 2013 reports on projected spending
  • Energy efficiency programs have become a significant electricity resource in every state, a trend expected to continue through 2030, that will impact grid planning and infrastructure spending

Navigant Research | North American Utility Energy Efficiency Program Implementation

  • Predicts spending on energy efficiency will grow at a steady pace over the next ten years, driven in part by improvements to the resource alongside business models and technologies that continue to evolve
  • Efficiency has moved beyond broad demand reductions, towards finding value in saving energy when and where it counts most

U.S. Electric Energy Efficiency Program Budgets2

($ in billions)

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Public Market Observations3

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Public Valuation Multiples by Sector3

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What We’re Reading

The Coming Electrification of the North American Economy

"Over the coming decades, Western economies will become more highly driven by electric power than they are today. As public policies and consumer choices reflect concerns about fossil fuel consumption, and low-carbon technologies continue to develop, a growing share of the economy will rely on low-carbon electricity to fuel cars, to heat homes and businesses, and to provide process heat at industrial facilities.

Electrification of these sectors could significantly increase electricity demand. To meet this rising demand, additional low-carbon electricity generation resources will need to be built and supported by adequate and robust transmission and distribution infrastructure. The report finds that $30–90 billion dollars of incremental transmission investments will be necessary in the U.S. by 2030 to meet the changing needs of the system due to electrification, with an additional $200–600 billion needed from 2030 to 2050. These investments will be in addition to the investments needed to maintain the existing transmission system and to integrate renewable generation built to meet existing load."

The Brattle Group

Energy Transition Highlights From CERAWeek

"Energy experts and government representatives met in Houston in March to discuss the state of the energy industry at IHS Markit’s annual CERAWeek. The conference has historically been a convening of thinkers in conventional fossil fuels, but this year the industry also grappled with a theme across the sector: the energy transition.

Oil and gas majors and car manufacturers are now talking a big game on the energy transition: rebranding, buying up clean energy companies and positioning to “thrive through” the changes. CERAWeek was no exception. But right alongside their recognition that the transition is happening, companies doubled down on commitments to their core business. BP expects renewables to play a key role moving forward in combination with natural gas. The oil major sees a way to make money in clean energy, but said it’ll balance that with its traditional markets, while Ford and other car manufacturers are working to balance demand for the cars that consumers want now, namely SUVs, and the electrified vehicles they’ll look for in the future."

Greentech Media

Why Distributed? A Critical Review of the Tradeoffs Between Centralized and Decentralized Resources

"The recent proliferation of distributed energy resources (DERs) is creating new options for the delivery of key electricity services, including energy, firm capacity, operating reserves, and even alternatives to transmission or distribution network investments. DERs have the ability to deliver the same electricity services provided by centralized resources, including large-scale generators and transmission and distribution network assets. However, because of their distributed and modular nature, DERs are capable of providing these services at locations in power grids where they are most valuable. If sited at the right locations and operated at the right times, DERs can deliver more locational value than more centralized resources.

This article demonstrates that discerning the optimal size and location at which to deploy technologies that can be installed at multiple scales requires analyzing tradeoffs between economies of unit scale and locational value."

IEEE

Select Recent M&A Transactions

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Case Study: CPower

HW’s EPI Group advised CPower on its acquisition by LS Power

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Company Overview

CPower Holdings is an energy management company that develops and implements strategies to maximize revenues generated by distributed energy resource assets (“DERs”) for leading commercial and industrial (“C&I”) customers

CPower helps C&I customers and DER vendors identify, optimize and monetize a broad range of distributed energy assets, including demand response capabilities, energy efficiency projects and distributed generation assets

Utilizing proprietary leading-edge technologies and strong differentiated capabilities, Cpower delivers valuable and flexible energy resources to grid operators and utilities, who use them to balance electricity supply and demand in a cost-effective and environmentally sustainable manner

Relevant Sub-Sectors

  • Demand Response
  • Utility Program MGMT
  • Energy Efficiency
  • Distributed Generation
  • Energy Storage
  • Building Optimization

    Select HW EPI Transactions

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    1. CEE

    2. LBNL, Navigant, IEL

    3. FactSet

     

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