E Source Adds Again; Gets Even Smarter in Smart Water Offering with Acquisition of Excergy
CLEVELAND & DALLAS–(BUSINESS WIRE)–Align Capital Partners (“ACP”) announced today the closing of a fifth strategic add-on for its utility market intelligence, data science and consulting platform E Source. Excergy (the “Company”) is a consulting and technology implementation firm that partners with water, electric, and gas utilities and municipalities; specifically helping its customers assess, design and deploy operational technologies, such as advanced metering infrastructure (“AMI”) solutions, through multi-year engagements.
Based in Denver, CO, Excergy’s services include all aspects of a project from determining technology needs, writing RFPs, vendor selection, implementation and integration, customer communication and project management to completion. “E Source is a great partner for Excergy as both our companies believe in the transformative power of utility technology,” said Jim Ketchledge, Excergy’s CEO. “Together we can help bring utilities and cities to the 21st century by better leveraging technology to capture, synthesize and use data to make optimized decisions, conserve resources and best serve their customers.” Ketchledge will now serve as the Executive Vice President of Operations for E Source’s Technology Planning and Implementation Consulting Division.
For more than three decades, over two-thirds of the electric and gas utilities in the US and Canada have trusted E Source to help solve their most complex challenges using data and consumer insights. “E Source looks forward to welcoming Excergy into our recently formed Technology Planning and Implementation Consulting Division. The Company’s team of industry veterans have been offering energy and water solutions for over 20 years,” said E Source CEO Wayne Greenberg. “Excergy’s experience in AMI implementation makes for a perfect fit to the UtiliWorks acquisition we completed in February of this year.”
The Excergy partnership represents continued efforts by E Source to bring industry-leading tactical solutions to its customers to help them address the challenges that utilities face today. ACP acquired E Source in June of 2019 and announced earlier this year the acquisitions of QuadROI, UtiliWorks Consulting, Trove Predictive Data Science and StrategyWise. The Company will be united under the E Source brand in the months ahead.
“2020 has been a transformative year for E Source with the addition of new service offerings such as predictive data science and smart technology consulting,” said Rob Langley, ACP Managing Partner and Co-Founder. “These acquisitions enhance E Source’s value proposition and strategically complement one another by giving E Source customers the competitive advantage and intelligence they need to succeed in a rapidly evolving market.”
Operating Partner Dave Perotti, Vice President Matt Iodice and Senior Associate Corey Roe worked alongside Mr. Langley on the transaction.
About E Source
E Source is the leading solver focused solely on electric, gas, and water utilities and municipalities. The Company provides predictive data science software, market research, benchmarking data, and consulting services to more than 300 utilities, municipalities, and their partners. E Source’s data and experience helps customers make the best data-driven decisions to strengthen customer relationships, plan for tomorrow’s infrastructure and smart technology needs, and further their environmental sustainability while becoming more innovative and responsive in the rapidly evolving market. For more information, visit esource.com.
About Align Capital Partners
Align Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP manages $775 million in committed capital with investment teams in Cleveland and Dallas. ACP brings experience and resources to help lower-middle market companies accelerate their growth, to the benefit of management, employees, and the firm’s investors. ACP makes control investments in differentiated companies within the business services, technology, specialty manufacturing / distribution, and healthcare sectors. For more information, visit aligncp.com.