E Source Acquires Water Systems Optimization (WSO)

E Source Acquires UMS Group

November 28, 2023

Energy

E Source, the Align Capital Partners-backed utility market intelligence and data-science platform, has acquired UMS Group, a utility management consulting firm. The add-on strengthens E Source’s consulting capabilities in areas such as wildfire risk reduction, asset management, renewable integration and advanced AI modeling for utilities.

E Source Acquires Opinion Dynamics

August 19, 2025

Utilities

E Source, a utilities-focused company backed by Align Capital Partners, has acquired Opinion Dynamics to strengthen its program evaluation, research, and advisory capabilities for utilities. The acquisition expands E Source's ability to deliver end-to-end utility customer and grid-edge solutions—particularly in areas like energy efficiency, electrification, decarbonization, and load flexibility.

ClearWater Solutions Acquires Midwest Water Operations

January 5, 2022

Utilities

Keystone Capital Management’s portfolio company ClearWater Solutions (CWS) has acquired Midwest Water Operations (MWO), a Missouri-based provider of outsourced operations and maintenance services for water and wastewater facilities. The deal (terms undisclosed) expands CWS’s geographic footprint and service capabilities across municipal and private utility clients; the combined business now serves 12 states with approximately 400 employees.

Water Engineering Acquires WET Solutions

May 3, 2024

Environmental Services

Water Engineering, a portfolio company of Nolan Capital, has acquired WET Solutions, Inc., a Schaumburg, Illinois-based provider of water treatment equipment, chemicals, consultation, and preventative maintenance services. The transaction is an add-on to Water Engineering’s platform aimed at strengthening its presence in the greater Chicago area while retaining WET Solutions’ brand and owner involvement for continuity and growth.

E Source Acquires AAC Utility Partners

January 4, 2022

Utilities

E Source, a provider of research, data science and consulting for North American utilities, has acquired AAC Utility Partners, a Columbia, South Carolina-based vendor-independent consulting firm that specializes in customer information systems (CIS), program management and cloud consulting for utilities. The transaction is an add-on to E Source's Technology Planning and Implementation (TPI) business unit and is intended to expand the company's implementation, CIS and cloud capabilities for electric, gas, water and wastewater utilities.

Advanced Solutions International Acquires OpenWater

January 12, 2022

Cloud & SaaS

Advanced Solutions International (ASI) has acquired Arlington, VA-based OpenWater, a provider of application & review software and virtual event management solutions. Terms were not disclosed; ASI said there will be no change to OpenWater's management or day-to-day operations and expects to integrate OpenWater's platform with its iMIS association management ecosystem to expand capabilities for associations and non-profits.