Title: EnerNOC eyes growth by acquisition - MassHighTech

Industry sector: Energy efficiency, Energy service

EnerNOC eyes growth by acquisition

By Kyle Alspach
MassHighTech

After nearly a decade of mostly organic growth, EnerNOC Inc. now plans to accelerate its acquisition activity, CEO Tim Healy said in an interview.

Healy said he believes the energy management industry overall is ripe for consolidation, and EnerNOC, which has the largest share of the demand-response market, will be among those looking to acquire.

“We’ve been acquisitive in the past, but modestly acquisitive,” said Healy, who co-founded the Boston-based company in 2001 with David Brewster, the company’s president. “We will probably accelerate that acquisition activity moving forward.”

Healy did not specify what types of companies EnerNOC is interested in pursuing, but said that energy management is starting to take off as an industry for a number of reasons. Among the key factors, he said, is that some of the investments made into companies over the last three to five years are starting to bear fruit.

“There are some good-quality companies, quality technologies, that have been built, and you’re going to see that manifest itself in some consolidation,” Healy said.

Healy also expects that large companies are going to try to buy their way into certain segments of the energy management space, which he termed a “natural consequence of this being a real, sizeable, important industry moving forward.”

Read the full article at MassHighTech.