Ameresco, Inc. Agrees to Acquire Quantum Engineering and Development, Inc.
Ameresco Continues Commitment to Providing Comprehensive Energy Solutions with Expansion in the Northwest
FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Ameresco, Inc. (NYSE: AMRC) announced today that it has agreed to purchase Quantum Engineering and Development, Inc, an energy service company active in Oregon and Washington. Quantum is currently serving the Portland, Oregon public schools, the state of Washington, and a number of schools, cities and towns in Washington State.
"We are happy to have Quantum join the Ameresco family. With the additional talent and resources, we will continue to focus on delivering outstanding results and innovative, energy-saving solutions for our customers," said George P. Sakellaris, president and chief executive officer of Ameresco. "Quantum will be renamed Ameresco Quantum, Inc. and will lead our efforts in the Northwest Region."
Ameresco has implemented billions of dollars in energy efficiency and renewable energy projects for its customers. With the addition of Quantum, Ameresco expands its market focus in the Washington State area with a solid base of energy performance contract services. As part of Ameresco, Quantum customers can benefit from Ameresco's comprehensive energy service offerings including energy supply and risk management, energy infrastructure services, renewable energy solutions and carbon management, and Ameresco's Axis data and invoice management platform.
"Quantum has been recognized throughout the industry for its talented team, and we have a solid reputation with our customers," stated Michael O'Connor, president of Quantum Engineering and Development. "Our commitment to high quality service and customer satisfaction closely aligns with Ameresco's, and we look forward to joining the Ameresco team," continued O'Connor.
With the acquisition, Ameresco will add Quantum's employees to its current workforce of more than 650, and solidify its presence in the Northwest Region.
In July 2010, Ameresco completed its initial public offering.
About Ameresco, Inc.
Ameresco, Inc. was incorporated in Delaware in April 2000 and is a leading independent provider of comprehensive energy efficiency solutions for facilities throughout North America. Ameresco's solutions include upgrades to a facility's energy infrastructure, and the development, construction, and operation of renewable energy plants. With corporate headquarters located in Framingham, MA, Ameresco has 54 offices in 29 states and four Canadian provinces. For more information, visit www.ameresco.com.
About Quantum Engineering and Development
Quantum Engineering and Development is an energy service company located in Washington State. Quantum provides energy and water auditing, engineering, construction and commissioning services to public, commercial and industrial clients. Since 1999, Quantum has delivered over $63 million in energy and water conservation projects to public and private clients, and has built a reputation for engineering and customer service excellence. For more information, visit www.quantum-engr.com.
Source: Ameresco, Inc.
Released August 26, 2010