Albireo Energy Announces Acquisition of Bridge Power Consulting’s Portfolio
MOOSIC, Pa., Oct. 30, 2019 /PRNewswire/ -- Albireo Energy, a leading building automation and energy services company, announced its acquisition of Bridge Power Consulting’s portfolio of customer contracts. Bridge Power Consulting, founded in 2013 by deep domain experts in energy trading and market risk management, will continue as an ongoing agent partner representing the full suite of Albireo Energy products and services as part of the energy procurement & advisory division.
Albireo Energy’s Energy Procurement & Advisory Division was formed in November 2018 with the acquisition of Taylor Consulting, a leading energy management and data services company. The Bridge Power assets will be a tuck-in to its software-enabled energy procurement platform.
“We are thrilled to deploy our growth capital on the Bridge Power assets, which will bring many new clients onto our energy procurement platform and we continue to hunt for portfolios like Bridge Power,” states Scott Stiner, General Manager of the Energy Procurement Division at Albireo Energy. “These new customers will immediately benefit from services such as UtilityModule, the Energy Scorecard, and the UM mobile app.”
“Albireo Energy offered Bridge Power, and our customers, the best go forward plan,” said Sean Kelly, CEO of Bridge Power, “and we very much look forward to a fruitful working relationship for many years.” The deal was led by Matthew Wheatley, CRO of the Energy Procurement Division at Albireo Energy. Matthew commented, “We still see a lot of opportunities for consolidation in the sector and expect to complete a few more tuck-ins soon as counterparties are seeing that Albireo’s platform and service offerings can help them accelerate growth.”
About Albireo Energy
Albireo Energy provides building automation and integration solutions and energy services to commercial and institutional buildings nationally. Their solutions and services help building owners and managers improve efficiency and reduce operational costs while improving comfort for tenants. Their Energy Procurement division is a top ten utility management firm in its own right, with a network of 40+ suppliers behind hundreds of utilities across 14 states. Through all of the operating divisions, Albireo Energy has a history of providing exceptional solutions to mission critical facilities such as data centers, labs, military installations, and hospitals. For more information, visit www.AlbireoEnergy.com.
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SOURCE Albireo Energy