|By PR Newswire||
|January 10, 2013 11:36 PM EST||
CHEVY CHASE, Md., Jan. 10, 2013 /PRNewswire/ -- Arborview Capital announced today that it has completed the acquisition of Energy Automation Systems, Inc. ("EASI"), a leader in providing energy efficiency solutions for large industrial and commercial facilities. Arborview completed the transaction in partnership with Paul Bleiweis, CEO of EASI.
EASI's primary customers are large, multi-site manufacturing and commercial companies, who often engage EASI over a period of years to implement projects at multiple facilities. The Company provides unique energy saving solutions which are well suited to the needs of corporate customers. EASI designs and implements systems with a full range of energy conservation measures (ECMs), which address all major load areas in facilities (motors, HVAC, refrigeration, lighting), and also address power quality issues. EASI designs solutions to meet customers' payback requirements (typically 2 – 3 year payback, with 10 – 30% annual energy savings), and then provides a savings guarantee underwritten by an A-rated insurance carrier. EASI's ECMs are also non-invasive (don't require changes to equipment), and primarily passive, meaning building occupants do not need to change their behavior. EASI has completed numerous projects with Fortune 500 customers.
"The Arborview partnership will allow EASI to accelerate our growth," said EASI's CEO Bleiweis. "Arborview provides capital, contacts and expertise to help us better serve our existing customer base with an even broader range of energy conservation measures, and to bring our solutions to new market segments. We were determined to find the right partner to help us grow our business. What we like about Arborview is that they have deep experience in the energy efficiency market, they understand the challenges facing rapidly growing companies, and they truly take a collaborative approach to helping us grow."
Energy efficiency generally provides an attractive standalone return on investment and quick payback for end customers. Within the broader energy efficiency market, the industrial and commercial sectors – which account for 41% of energy use in the U.S. – represent a large and attractive addressable market opportunity that has been under-penetrated to-date. Reducing energy costs has become a priority for an increasing number of industrial and commercial customers. To-date, large energy services companies have focused primarily on the government and institutional sectors, which have longer allowed payback periods (often 10 – 15 years). In contrast, industrial and commercial customers typically demand 2 – 3 year payback periods, and EASI provides a compelling solution by offering a range of the shortest-payback ECMs, with guaranteed savings.
"EASI is a leader and has a truly differentiated solution in what we believe is an attractive and growing market for industrial energy efficiency," said Joe Lipscomb, Partner of Arborview. "They have implemented solutions at numerous facilities for large corporate customers because they understand how these customers want to purchase energy efficiency solutions. These customers want an experienced partner who can provide a comprehensive solution, which doesn't require them to change how their facilities operate, with a guaranteed payback period that meets their corporate guidelines. We look forward to helping EASI to take its solutions to an even broader market."
"Energy efficiency is a key area of focus for Arborview as we continue to build a diversified portfolio of clean energy investments," said Karl Khoury, Partner of Arborview. "EASI fits squarely into our growth equity investment strategy. We seek to invest in established businesses that have strong leadership and superior organic growth potential. We look forward to working with Paul Bleiweis and his team to continue building upon EASI's track record of success."
Energy Automation Systems, Inc., based in Hendersonville, TN, was established in 1982 and provides energy efficiency solutions comprising a range of energy conservation measures for large industrial and commercial facilities. Typical customers are large, multi-site manufacturing companies, who often engage EASI over a period of years to implement projects at multiple facilities. Additional information is available at www.energyautomation.com.
About Arborview Capital
Arborview Capital is a private investment firm that makes growth equity investments in clean energy companies across the energy efficiency, resource efficiency and renewable energy sectors. The firm's principals have significant experience partnering with entrepreneurs to build industry leading companies. Additional information is available at www.arborviewcapital.com.
SOURCE Energy Automation Systems, Inc.
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