Energy & Sustainability M&A Activity – October 2020

Recent M&A Activity:

• September 9, 2020: SunTech Drive was acquired by Premier Energy Holdings for an undisclosed amount. SunTech Drive’s intelligent conversion products are designed to deliver the capability and capacity to optimize operation of electric motors using any source of electricity anywhere in the world.
• September 9, 2020: Enable Energy was acquired by BayWa r.e. U.S. for an undisclosed amount. Enable Energy offers engineering, procurement, and construction (EPC) services as well as operations and maintenance (O&M) support. The acquisition will create multiple collaborative opportunities with BayWa r.e.’s existing businesses and improve its position in strategic regional and vertical markets, such as commercial solar-plus-storage.
• September 23, 2020: Austin Electric Services was acquired by Synergos Companies for an undisclosed amount. Austin Electric Services is a premier Arizona residential electrical, concrete, and HVAC group that emphasizes energy efficiency and construction innovation.
• September 25, 2020: EnergyWare was acquired by JOX Energy for an undisclosed amount. EnergyWare is a full-service, nationwide energy efficiency design, engineering, manufacturing, and installation company. With this acquisition, EnergyWare customers will receive additional products and services under one umbrella and have access to a growing number of efficient technical resources.
• September 29, 2020: Evolve Energy was acquired by Octopus Energy for $5 million. Evolve Energy is a Houston and Silicon Valley-based energy startup that uses AI and machine learning to optimize energy usage, providing customers with the best energy prices for renewable power.

*Source: PitchBook

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