August 11, 2022

Align Capital buys Excergy as latest add-on for its E Source utility consulting platform

Align Capital Partners has acquired Excergy, a Denver-based provider of utility consulting and technology implementation services, as the latest add-on for its E Source platform.

Terms of the deal, the fifth tuck-in deal for E Source since its acquisition in June 2019, were not disclosed.

According to Align, Excergy “partners with water, electric and gas utilities, and municipalities, specifically helping its customers assess, design and deploy operational technologies, such as advanced metering infrastructure (AMI) solutions, through multiyear engagements.”

The ability to add new services makes it a prime fit for E Source, a provider of independent research, advisory and information services to utilities, major energy users and other players in the retail energy marketplace.

“E Source looks forward to welcoming Excergy into our recently formed Technology Planning and Implementation Consulting Division. The company’s team of industry veterans have been offering energy and water solutions for over 20 years,” said E Source CEO Wayne Greenberg in a statement. “Excergy’s experience in AMI implementation makes for a perfect fit to the UtiliWorks acquisition we completed in February of this year.”

Excergy will be rebranded under the E Source moniker.

Other companies added on to E Source are QuadROI, UtiliWorks Consulting, Trove Predictive Science and StrategyWise.

“2020 has been a transformative year for E Source with the addition of new service offerings such as predictive data science and smart technology consulting,” said Align managing partner and co-founder Rob Langley in a statement. “These acquisitions enhance E Source’s value proposition and strategically complement one another by giving E Source customers the competitive advantage and intelligence they need to succeed in a rapidly evolving market.”

Align, which has a second office in Dallas, focuses on control investments in growth-oriented, lower-middle market niche manufacturing, distribution and business service companies with less than $10 million in earnings before interest, taxes, depreciation and amortization (EBITDA).

Despite M&A deal activity stalling out a bit this year amid the COVID-19 pandemic, Align has made 14 investments/acquisitions in 2020, buying 10 add-ons and four new platforms.

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