EnerNOC Buys Global Energy Partners, Gains West Coast Access
Boston-based EnerNOC (NASDAQ: ENOC), a provider of support services and programs for electrical utilities, said today that it has made its biggest acquisition to date, with the purchase of Global Energy Partners of Walnut Creek, CA. The addition of the West Coast company, which has 55 employees and provides energy and environmental engineering and services to bigger organizations, will help EnerNOC expand its offerings to its utility, commercial, institutional, and industrial customers, according to the announcement.
EnerNOC, which largely manages programs to help utilities moderate electrical demand and respond to times of peak activity, has been adding a number of services to its portfolio with acquisitions over the past few years. In 2008 it bought Baltimore, MD-based South River Consulting, a firm focused on procurement services to help city governments and corporations navigate where to buy electricity and gas services. The year before that, it acquired MDEnergy, a Stamford, CT-based company that helped clients gather bids for energy contracts. Just last year, it announced its acquisition of energy management software-maker eQuilibrium Solutions.
The deal, which is expected to close in early 2011, gives EnerNOC a bigger footprint in the West Coast and access to Global Energy Partners’ clients, who include Pacific Gas & Electric, Southern California Edison, the California Energy Commission, and the U.S. Department of Energy.