Ameresco, which is a “cleantech” integrator which focuses on energy efficiency and renewable energy, announced that it has acquired Plug Smart, an Ohio-based energy services company that specializes in the development and implementation of budget-neutral capital improvement projects including building controls and building automation systems.
With this acquisition, Ameresco said it will be able to expand its existing pipeline and solution offerings in the smart buildings sector.
Plug Smart was formed in 2008 and has been providing smart building solutions for the government, university, school, healthcare and commercial markets with a strong regional presence in Ohio, Michigan, Kentucky, Tennessee, Pennsylvania and Florida. Through a customer-focused approach, Plug Smart has specialized in creating budget-neutral funding opportunities for customers along with providing them with insights into pricing and ROI before, during and after project implementation.
“Mergers and acquisitions continue to be an important component to our growth strategy, and we are thrilled to welcome Plug Smart into the Ameresco family. With the addition of the Plug Smart team’s capabilities, we will be better equipped to implement cutting-edge smart building technologies,” said George Sakellaris, president and CEO of Ameresco.
The Plug Smart team will join Ameresco’s employee base of over 1,000 people.
“The integration of deep expertise from the Plug Smart team will provide extensive benefit to both our current customers and the next evolution of Ameresco’s smart building solutions offerings,” said Lou Maltezos, EVP of Ameresco. “Our complimentary approach to customer-first, best-in-class solution configuration make this a win-win for both companies.”
Dave Zehala, former president of Plug Smart, now VP and GM of Smart Building Solutions at Ameresco, said: “By joining with a recognized leader in the energy services space we can take the business to the next level and provide more comprehensive and innovative smart building solutions to the market.”
Financial terms of the transaction are undisclosed, though Ameresco does not anticipate that the acquisition will have a material impact on the 2021 financial results of the company.
With its corporate headquarters in Framingham, Massachusetts, Ameresco has more than 1,000 employees in the United States, Canada, and the United Kingdom.