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M&A: Foresight, Cornerstone Merger Blends Sustainability Consulting, SaaS and Environmental Services

May 10, 2024 by Joe Panettieri

Foresight Management and Cornerstone Environmental Health and Safety have merged, the longtime business partners have disclosed. The M&A deal blends Foresight's sustainability, carbon accounting and energy management expertise with Cornerstone's EHS knowhow. Financial terms of the deal were not disclosed.

This is M&A deal number 202 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.

Foresight: An MSP, Consultancy and SaaS Provider

Foresight, founded in 2007, is based in Grand Rapids, Michigan. The company originally was a boutique performance contractor named Midwest Energy Group. By 2015, the firm underwent a change of ownership to pursue an "outsourced energy manager" business model. The corporate name change to Foresight arrived in 2017.

Brian Pageau, president, Foresight Management
Brian Pageau, president, Foresight Management

In many ways, Foresight has been evolving into a managed services provider (MSP). Indeed, the firm helps commercial and industrial customers across North America to collect and calculate greenhouse gas emissions data. Additional areas of expertise include sustainability reporting, facility energy audits, product and building life cycle assessments, and energy procurement services.

Cornerstone, founded in 1990 as SARA Services, is based in Zionsville, Indiana. The corporate name change arrived in 1995. Cornerstone's consulting services and proprietary SaaS software help customers to address regulatory compliance, worker safety, quality systems, and more.

Foresight and Cornerstone Merger: Executive Perspectives

In a letter to customers, Foresight Management President Brian Pageau described a strong business history between the two firms. He stated, in part: "Together with Cornerstone, we will be able to deliver more value to you by offering a full spectrum of environmental and sustainability software solutions and advisory services."

Mark Miller, president, Cornerstone
Mark Miller, president, Cornerstone

In the letter, Pageau also praised the Cornerstone team, stating: "Over the last three years, the Foresight and Cornerstone teams have been developing relationships with each other and our respective clients. Mark Miller, the President of Cornerstone, and his team of over fifty talented humans are deeply focused on building long-term partnerships with their clients around environmental, health and safety services. Their suite of software solutions and advisory services aligns perfectly with Foresight’s technology enabled approach to accelerating sustainability."

Together, Foresight and Cornerstone will position as "your partner in carbon, energy, sustainability and EHS."

Foresight has M&A experience. Previous acquisitions include Building Performance Team (2018), Sustainable Research Group (SRG, 2020) and Vikrun Energy Solutions (2021).

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