Veolia North America Acquires Boston-Based Meter-Reading Company

Acquisition of Energenix makes Veolia North America’s SourceOne the leading meter services provider in Greater Boston

BOSTON--(BUSINESS WIRE)--Representing a growth strategy focused on clean energy, Veolia North America, through its energy subsidiary, SourceOne Inc., has acquired Energenix, a Boston-based utility meter reading and billing service that provides services throughout Eastern Massachusetts.

The acquisition makes Veolia North America the leading provider of meter reading and billing services in the Northeast, with a portfolio of over 700 buildings and 200 customers. The offering represents a key component of the company’s growth strategy to provide advanced energy management technologies and programs to building owners, facilities managers and energy consumers throughout the region.

Energenix was created in 1994 by Guy Machnes, a former electrician who identified the need for efficient meter-reading services and steadily expanded the business over the past 26 years. Machnes recognized that in SourceOne he had found an experienced partner with the capabilities to offer technological advances and added services that will enhance the Energenix customer’s experience. SourceOne’s expertise in engineering services, design, implementation and maintenance of metering systems for a variety of utilities adds intrinsic value to the offering.

“We are excited to welcome Energenix into the SourceOne family,” said Matt Madeksza, Veolia North America President and CEO. “With this acquisition, we are strengthening our position as a trusted provider of energy services where innovation and vision lead to greater efficiency and sustainability.”

About Veolia North America

A subsidiary of Veolia group, Veolia North America (VNA) offers a full spectrum of water, waste and energy management services, including water and wastewater treatment, commercial and hazardous waste collection and disposal, heating and cooling networks, energy consulting and resource recovery. VNA helps commercial, industrial, healthcare, higher education and municipality customers throughout North America. Headquartered in Boston, Mass., Veolia North America has more than 7,000 employees working at more than 150 locations across the continent. www.veolianorthamerica.com

About Veolia

Veolia group is the global leader in optimized resource management. With nearly 179,000 employees worldwide, the Group designs and provides water, waste and energy management solutions which contribute to the sustainable development of communities and industries. Through its three complementary business activities, Veolia helps to develop access to resources, preserve available resources, and to replenish them. In 2019, the Veolia group supplied 98 million people with drinking water and 67 million people with wastewater service, produced nearly 45 million megawatt hours of energy and treated 50 million metric tons of waste. Veolia Environnement (listed on Paris Euronext: VIE) recorded consolidated revenue of €27.189 billion in 2019 (USD 29.9 billion). www.veolia.com