Select Energy Management M&A Transactions

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UL Acquires HOMER Energy

  • UL, a global safety science leader, announced the acquisition of Boulder, Colorado-based HOMER Energy, the world leader in modeling and optimization software for microgrids
  • The acquisition combines UL's experience and recognized thought leadership in solar, wind and battery technology with HOMER Energy's system design capabilities and distributed energy project database, enabling UL to expand services across the renewable energy value chain
  • Following the acquisitions, HOMER Energy employees will join UL's existing Energy and Power Technologies division

 

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EDF Buys Energy Storage, EV Charging Firm Pivot Power

  • EDF Group has announced the acquisition of U.K.-based Pivot Power, a provider of specialized battery storage and infrastructure for electric vehicle charging
  • The acquisition of Pivot Power will allow EDF to boost its battery storage portfolio, as Pivot Power has an extensive portfolio of projects across more than 40 locations throughout the U.K.
  • Additionally, this acquisition contributes to EDF’s Electricity Storage plan to target 10 GW of additional storage by 2035, and its plan to become the leading electric mobility company by 2022 in the U.K., France, Italy and Belgium

 

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TRC Acquires Distributed Energy Solutions Group of Lockheed Martin

  • TRC, a leading technology-enabled provider of end-to-end engineering, consulting and construction management solutions, has expanded its utility services capabilities with the close of the acquisition of Lockheed Martin Distributed Energy Solutions
  • LM-DES is based in Rockville, Maryland, and currently serves many of the nation’s top electric and gas utilities. LM-DES develops energy efficiency, IT outsourcing, beneficial electrification and demand response/DERMS solutions
  • With the acquisition of LM-DES, TRC adds just over 400 employees, increases its geographic presence across the U.S. and positions itself as one of the leading players in the Advanced Energy market

 

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LS Power Acquires EV Fast-Charging Specialist EVgo

  • LS Power has added EVgo's electric vehicle public fast-charger business to its portfolio
  • Sold to Vision Ridge Partner in 2016 by NRG, LS Power plans to put significant capital to work to move the grid in more flexible directions and plans to accelerate EVgo’s growth and serve all EV drivers
  • Following the acquisition, EVgo will remain an independent brand within LS Power's portfolio

 

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Johnson Controls Acquires EasyIO Building and Energy Management System

  • Johnson Controls announced it has closed an agreement to purchase the EasyIO Building and Energy Management System (BEMS) product line
  • EasyIO provides innovative products for Building and Energy Management Systems (BEMS) that are used in infrastructure projects and are fit for all types and sizes of buildings
  • The acquisition will create significant growth opportunities as Johnson Controls leverages the EasyIO products and teams in the Americas, Europe, Middle East and APAC building automation markets, as well as the global HVAC and refrigeration markets

Public Market Observations1

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Public Valuation Multiples by Sector1

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What We’re Reading

2019 State Energy Efficiency Scorecard

The State Energy Efficiency Scorecard ranks states on their policy and program efforts. It assesses performance, documents best practices, and recognizes leadership. The report captures the latest policy developments and state efforts to save energy, and highlights opportunities and policy tools available to governors, state legislators, and regulators.

First place goes to Massachusetts, which leads the State Scorecard for the ninth year in a row. Thanks to a strong policy framework established under its Green Communities Act a decade ago, the state continues to achieve among the highest levels of utility savings in the nation. Rounding out the top 10 are California, at #2. and Rhode Island and Vermont, tied at #3, followed by New York, Connecticut, Maryland, Minnesota, Oregon, and Washington.

ACEEE

Plugging In: Colleges Seek Partners to Help Reach Energy Goals

As additional large energy customers set goals for lower emissions, some institutions are looking to the private sector for technical expertise and financial support to advance sustainability.

To manage energy usage more efficiently, colleges are partnering with energy efficiency specialists. More colleges are taking this approach as they stare down financial pressures from reduced state support and calls to moderate tuition increases. Other drivers include the need for help following through on commitments to reduce their carbon footprints and making often-overdue improvements to campus infrastructure.

Utility Dive

The Net-Zero Challenge: Global Climate Action at a Crossroads

In 2015, government representatives from 197 countries met in Paris and agreed to limit a global temperature rise by the end of the century to well below 2°C and to pursue efforts to limit the temperature increase even further, to 1.5°C. Government commitments so far are far from sufficient. Only 67 countries–among them none of the top five emitters–have committed to the goal of achieving net-zero carbon dioxide emissions. Corporations have begun to recognize that voluntarily bringing down the emissions footprints of their business models can enhance long-term value. Yet, only a third of the approximately 7,000 companies that report to the Carbon Disclosure Project fully disclose their emissions. Investors have an even larger incentive to ensure that companies assess climate-related risks and opportunities, but the focus on short-term performance continues to prevent progress for many of them. The world is at a crossroads. Without a meaningful reduction in emissions within the next five years, the ability to act will increasingly be lost, resulting in irreversible damage.

World Economic Forum

Select Recent M&A Transactions

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Harris Williams Overview

Global Advisory Platform

  • Founded in 1991
  • 370+ professionals across eight offices globally
  • 170+ closed transactions in the last 24 months
  • 10 dedicated industry groups

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Energy, Power & Infrastructure  (“EPI”) Group

  • 15+ closed transactions in the last 24 months

Vertical Focus Areas

  • Energy Management
  • Renewables and Distributed Energy
  • Industrial and Infrastructure Services
  • Outsourced Utility Services
  • Oilfield Services
  • Engineering and Construction
  • Environmental Services
  • TIC & Integrity Services

Energy Management

  • 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 HW Transactions

screen_shot_2020-01-13_at_1.44.46_pm.pngLeading provider of demand-side management (“DSM”) solutions to utility clients

 

 

 

screen_shot_2020-01-13_at_1.45.11_pm.pngProvider of demand response capabilities, energy efficiency projects, and distributed generation assets to identify, optimize, and monetize across distributed energy assets

 

 

screen_shot_2020-01-13_at_1.45.41_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_2020-01-13_at_1.46.16_pm.pngDevelops and markets transportation analysis software for improving traffic flow

 

 

 

screen_shot_2020-01-13_at_1.46.45_pm.pngProvider of integrated cloud-based demand response, energy efficiency, and customer engagement solutions for utility customers

 

 

 

screen_shot_2020-01-13_at_1.47.17_pm.pngLeading implementer and administrator of energy efficiency programs

 

 

 

screen_shot_2020-01-13_at_1.47.44_pm.pngLeading independent ESCO serving the Federal, MUSH, and commercial and industrial end markets

 

 

 

screen_shot_2020-01-13_at_1.48.17_pm.pngLeading cloud-based provider of Energy Services Management software and Behavioral Energy Efficiency solutions

 

 

 

screen_shot_2020-01-13_at_1.48.56_pm.pngLeading provider of energy efficiency and renewable energy services in the Southwestern U.S.

 

 

 

screen_shot_2020-01-13_at_1.49.26_pm.pngLeading designer of smart submeter systems and integrated energy intelligence software

Select HW EPI Transactions

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Our Firm

Harris Williams has a broad range of industry expertise, which creates powerful opportunities. Our clients benefit from our deep-sector experience, integrated industry intelligence and collaboration across the firm, and our commitment to learning what makes them unique. For more information, visit our website at www.harriswilliams.com/industries.

Industry Group Expertise

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1. CapIQ

 

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