Harris Williams & Co. Advises Pinnacle West Capital Corporation in its Sale of APS Energy Services
Harris Williams & Co., the premier middle market investment bank, announces the sale of APS Energy Services, a full-service energy service company, from Pinnacle West Capital Corporation (NYSE:PNW) to Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company. Harris Williams & Co. acted as the exclusive advisor to Pinnacle West. The transaction was led by Brian Lucas, Luke Semple and Tiff Armstrong from the firm's Energy & Power Group.
"The acquisition is a great example of the strength of M&A activity in the energy efficiency sector," said Brian Lucas, a director in Harris Williams & Co.'s Energy & Power Group. "Energy efficiency remains the most practical and cost-effective solution for reducing energy consumption, lowering energy costs, and addressing environmental concerns and we continue to see strong demand for companies delivering energy efficiency solutions. The sale is our fourth recent transaction in the energy efficiency sector."
Pinnacle West Capital Corporation, an energy holding company based in Phoenix, AZ has consolidated assets of about $12.3 billion, more than 6,300 megawatts of generating capacity and about 6,700 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, PNW provides retail electricity service to more than 1.1 million Arizona homes and businesses.