Energy efficiency firm CLEAResult has expanded by acquiring the industrial utility services business unit of EnerNOC, the Austin-based company announced Thursday. No financial details were released on the acquisition.
CLEAResult says the deal will bolster its commercial and industrial capabilities, strengthening the ability to provide end-to-end program design, outreach, onsite assessments, reporting and other services. The company already runs more than 370 C&I energy efficiency programs across North America.
“In this particular space, a utility’s customers are looking for reliable and persistent energy efficiency programs that lead to cost-effective savings and address the unique challenges they face,” said CLEAResult CEO Aziz Virani in a statement. “CLEAResult can now offer our utility clients customized, unmatched services for their commercial and industrial customers who have been hard to engage with traditional energy efficiency programs.”
All team members from EnerNOC’s former industrial utility services unit are moving over to their new owner, CLEAResult said. The group will remain based in California.
Founded in 2003, CLEAResult offers energy efficiency programs and services continent-wide. Its portfolio includes strategic energy management, commercial and industrial energy efficiency programs, small business programs, new construction and behavioral programs.
Earlier this year, CLEAResult hired Virani as its new president while co-founder and interim CEO Jim Stimmel returned to his previous executive vice president and board of directors positions.
Virani joined CLEAResult from Avanade, where he most recently served as president of the North American division. Prior to Avanade, Virani was a partner at Accenture, where he spent more than 23 years holding management, consulting and leadership positions around the globe.
CLEAResult has close to 3,000 employees in more than 70 cities throughout the U.S. and Canada. The Austin company is a portfolio company of growth equity firm General Atlantic.