Ecova to acquire Prenova
By Christina Williams
Sustainable Business Oregon
It may sound like the opening of a Dr. Suess tale, but Ecova will acquire Atlanta-based Prenova, the company announced Tuesday.
Ecova announced Tuesday that it will acquire Prenova Inc., an Atlanta energy management company.
Details of the transaction were not disclosed, but Ecova officials said the deal is expected to close by the end of the year, will be funded by Ecova and will be neutral to earnings in 2012.
Ecova, launched last month following the merger of Advantage IQ and Ecos, is based in Spokane and has about 95 employees in Portland.
Ecova had $102 million in revenue last year.
Prenova, which brings with it a roster of 80 clients, had $12.4 million revenue during the first nine months of 2011.
"Prenova’s clients, employee expertise and real-time products are significant additions to our company," said Jeff Heggedahl, CEO of Ecova, in a press release. "We look forward to providing the best offerings from both companies' portfolios to our clients, and believe our unique combination of technology, expertise and data is unmatched."
The acquisition adds to Ecova's reach into the world of corporate sustainability and energy management and brings the company client list to more than 600 organizations.
@SustainableBzOR | christinawilliams@bizjournals.com | 503.219.3438
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