CLEVELAND & DALLAS--(BUSINESS WIRE)--Align Capital Partners (“ACP”) is pleased to announce the majority acquisition of E Source (the “Company”), a leading provider of customer-focused research, data, and consulting for utilities and their partners. Headquartered in Boulder, Colorado, E Source provides subscription-based market intelligence services for thousands of utility employees and senior leaders across North America. The Company’s unique insights into key areas of demand side management, customer experience, and marketing, help utilities adapt to ever-changing business and market conditions. Financial terms of the transaction were not disclosed.
“ACP’s investment is a significant milestone for our company, our employees, and our customers,” said E Source CEO, Wayne Greenberg. “We’ve already established ourselves as the market leader in the areas where utilities intersect with their customers, and now we have a financial and strategic partner who will help us leverage and build upon that position to accelerate our growth.”
ACP’s investment in E Source, the first institutional capital in the business, will help grow the Company’s existing portfolio of customer energy and customer experience solutions both organically and through add-on acquisitions. E Source will seek to increase value within its membership services, expand its consulting practice, and introduce software solutions to advance utility customer engagement efforts. Specific growth avenues include enhancements surrounding distributed energy resources, innovation, and human centered-design.
“E Source sets the standard for best in class research, data, and consulting in the utility industry,” said Robert Langley, Align Capital Partners Managing Partner and Co-Founder. “We’re excited to partner with this talented and innovative company and believe that E Source’s market position and entrenched customer relationships will provide enhanced value for add-on acquisitions once they become part of the E Source family.”
Gino Porazzo, a veteran operating executive and former COO of CLEAResult, has agreed to join E Source’s Board of Directors as an Outside Board Member. Mr. Porazzo will help E Source achieve strategic organic growth initiatives and execute upon a buy and build strategy. Mr. Porazzo commented, "Given E Source's stellar market reputation and utility market intelligence capabilities, they are extremely well positioned to scale and I am excited to be a part of the Company’s next transformative growth phase.”
Operating Partner David Perotti, Vice President Matt Iodice and Associate Corey Roe worked alongside Mr. Langley on the transaction.
About E Source
For over 30 years, E Source has been providing market research, data, and consulting services to more than 300 utilities and their partners. This guidance helps the Company’s customers advance their customer energy solutions and enhance customer relationships, while becoming more innovative and responsive in the rapidly evolving market. For more information, visit esource.com.
About Align Capital Partners
Align Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP brings experience, resources, and a $326 million committed fund to help companies accelerate their growth, to the benefit of management, employees, and the firm’s investors. ACP makes control investments in growth-oriented, lower-middle market business services, specialty manufacturing, and value-added distribution companies. E Source marks ACP’s seventh platform company investment completed since the firm’s first fund closed in September 2016. For more information, visit aligncp.com.