Schneider Electric acquires Summit Energy
Schneider Electric, a global specialist in energy management, announced that it has signed an agreement to acquire Summit Energy Services Inc., a provider of outsourced energy procurement and sustainability services to industrial, commercial and institutional enterprises.
Summit Energy provides its clients with services of energy procurement, risk management, market intelligence, data management and sustainability consulting. It is reportedly employing more than 350 individuals based in 11 international offices across North America and Europe and serves client facilities in more than 90 countries.
Summit Energy is a fast-growing business, expected to generate sales of approximately $65 million for the current year with an EBITA margin above the Schneider Electric average.
Summit Energy brings to Schneider Electric:
- Premier client-focused service platform, with two decades of success strategically positioning clients regarding energy contracting, reporting and consumption
- Highly experienced, multilingual team of regionally deployed energy and sustainability experts
- Leadership position for energy and sustainability reporting solutions through online platform (dashboarDView) that enables corporations to gain a firm grasp on energy and environmental costs and usage
- Proprietary risk management analysis and modeling for key global energy commodities
Summit Energy has over the years built long-term relationships with its clients based on its ability to deliver value through skilled personnel supporting the customer. Summit Energy expects to be a complement to Schneider Electric’s demand-side capabilities in the fields of energy audits, energy monitoring and energy efficient solutions.
– Edited by Amanda McLeman, Plant Engineering, www.plantengineering.com