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M&A: CLEAResult Acquires Government Energy and Sustainability Consultancy Energetics

February 15, 2024 by Joe Panettieri

CLEAResult, backed by private equity firm TPG, has acquired Energetics -- an energy-focused sustainability consultancy that has deep expertise in the U.S. federal government market. Financial terms of the deal were not disclosed.

Rich McBee
Rich McBee, CEO, CLEAResult

This is M&A deal number 100 that Sustainable Tech Partner has covered so far in 2024. See all M&A deals involving sustainability, climate tech and green IT services listed here.

CLEAResult, founded in 2003, is based in Austin, Texas. The company has has over 2,400 employees in more than 60 cities across the U.S. and Canada. CLEAResult positions itself as the largest provider of energy efficiency, energy transition and energy sustainability solutions in North America. The company offers technology and services to help customers reduce their energy consumption and carbon footprint. TPG has owned the business since 2018.

Energetics, founded in 1979, is based in Columbia, Maryland. The company employs roughly 120 energy and sustainability experts who focus on energy transition and carbon consulting services -- particularly in the U.S. federal government. Energetics Senior VP Joan Pellegrino will continue to lead the Energenics team under CLEAResult's ownership.

Joan Pellegrino, senior VP, Energetics

Executive Perspectives: Why CLEAResult Acquired Energetics

In a prepared statement, CLEAResult President and CEO Rich McBee said: “This strategic acquisition propels CLEAResult to the forefront of the energy sustainability consulting landscape in North America. This is a terrific move for both companies, as it expands access to new markets and customers seeking industry-leading solutions. The Energetics team will greatly benefit from joining a market-leading, dedicated sustainability business like CLEAResult, with more than 20 years of established expertise in energy efficiency and sustainability. Together, we’ll deliver impact on an even larger scale."

Added Divakar Jandhyala, chief product and technology officer at CLEAResult: "The Energetics team that clients know and trust will remain unchanged and continue to operate under Joan Pellegrino’s leadership. Clients can count on the same level of expertise, dedication and personalized support they've come to value from Energetics, and will now have access to the industry’s largest number of energy efficiency engineers, program managers and implementation teams. CLEAResult and Energetics will be even better equipped to provide exceptional service with an even wider range of capabilities, talent and resources."

Divakar Jandhyala, chief product and technology officer, CLEAResult

M&A Experience, Technology Expertise

CLEAResult has M&A experience. The company previously acquired:

  • June 2022: Ecofitt, a residential energy efficiency program implementer for utilities, retailers and distributors in Canada.
  • May 2022: ChooseEV, a provider of electric vehicle (EV) market awareness and education tools across North America.
  • January 2018: The Utility Division of Ecova (known as ENGIE Insight), aj energy and sustainability management company.

We're curious to see if CLEAResult further expands from energy services to IT services. President and CEO Rich McBee has extensive experience leading technology businesses. He previously led enterprise network performance company Riverbed Technology, and communications and collaboration company Mitel.

CLEAResult's current technology services include carbon tracking software, data integration capabilities, analytics, and distributed energy resource management (DERM).

CLEAResult was previously owned by General Atlantic.

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