Energy management and demand response company EnerNOC, Inc. (NASDAQ: ENOC) has entered into a definitive agreement to acquire Global Energy Partners, a competitor that designs and implements utility energy efficiency and demand response programs.
Financial terms were not disclosed.
Through this acquisition, EnerNOC will expand its market and will be able to deliver a broader portfolio of applications and services to its utility partners and commercial, institutional, and industrial (C&I) customer base.
Global Energy Partners is a 55-person enterprise headquartered in Walnut Creek, California that operates across the United States. Its past and present clients include Pacific Gas & Electric (NYSE: PCG) , Southern California Edison (NYSE: EIX), Bonneville Power Administration, Duquesne Light Company (DQUEP.PK), the Midwest ISO, Inland Power & Light, Oklahoma Gas & Electric, and Portland General Electric (NYSE: POR), among others.
The acquisition is scheduled to close in early 2011. EnerNOC anticipates this acquisition to be neutral to earnings in 2011, and accretive in 2012.
This is EnerNOC’s ninth acquisition, as it expands to cover the full spectrum of energy management services. The previous acquisition was building management company Cogent in December 2009.
As the Demand Response industry heats up, it is beginning to consolidate as well. Constellation Energy (NYSE: CEG) recently acquired CPower, and Verisae and Schneider Electric (SND.DE) teamed up in the U.S.
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