ICF Worldwide Inc. goals to capitalize on rising market alternatives with the acquisition of Utilized Vitality Group (AEG) from Ameresco Inc. This acquisition strengthens ICF’s place in key areas like power effectivity, grid resilience, and decarbonization by including a robust expertise platform and skilled advisory companies, ICF stated in a media launch.
ICF stated that AEG brings a extremely trusted cloud-based power expertise platform that centralizes the administration of varied demand-side administration (DSM) applications. The platform provides real-time enterprise intelligence and analytics to assist organizations guarantee applications present grid reliability and affordability, ICF stated.
ICF stated that AEG enhances its capabilities with top-tier advisory companies, encompassing market analyses, power potential research, and complete program planning, design, implementation, and analysis.
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ICF and AEG have partnered on quite a few utility applications and repair tasks for over a decade.
AEG is projected to generate roughly $30 million in annual income in 2024 at margins corresponding to ICF’s total industrial power enterprise, ICF stated. AEG’s revenues are anticipated to extend not less than at a mid-teens charge in 2025, and the transaction is anticipated to be instantly accretive to ICF’s non-GAAP EPS, ICF stated.
“This transaction aligns with our technique to increase our capabilities in ICF’s progress areas, with particular emphasis on our power markets advisory and technology-enabled companies”, John Wasson, ICF chair and CEO, stated. “We’re increasing our capabilities with an modern, cutting-edge expertise answer for utilities and state and native authorities purchasers that may drive added worth for them, in addition to their prospects and stakeholders”.
“We’re excited to see the AEG crew transition over to ICF the place they will proceed to develop and complement the ICF portfolio of companies”, George Sakellaris, President and CEO of Ameresco, stated. “This profitable divestiture will permit us to stay targeted on our core companies and the thrilling progress alternatives inside our goal markets”.
To contact the writer, e-mail andreson.n.paul@gmail.com
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