Energy Acquisitions in Ohio

TPI Efficiency, a ScaleCo Capital portfolio company, has acquired Community Energy Advisors (CEA) and sister company Viridi in Medina, Ohio as the third and fourth add-on acquisitions for the platform. ScaleCo completed the transaction in partnership with Agility Equity Partners and Tecum Capital to expand TPI's energy procurement, advisory and efficiency capabilities and to broaden its Chamber-driven channel reach across the Midwest.

Environ Energy, a PE-backed national energy management platform, has acquired Scioto Energy, an independent energy brokerage and advisory firm based in Columbus, Ohio. The add-on expands Environ’s presence in the PJM market and Midwest, enhances its procurement and advisory capabilities, and keeps Scioto’s leadership and client-focused team in place under the Environ platform.

TPI Efficiency, a Cleveland-based energy brokerage and sustainability consulting firm and portfolio company of ScaleCo Capital, has acquired The Utilities Group (TUG), a Cincinnati-based energy management and sustainability consultant. The add-on, supported by ScaleCo and growth capital from Tecum Capital, expands TPI's geographic footprint in Ohio and enhances its procurement and sustainability service offerings to commercial and industrial clients.

RESA Power, a portfolio company of Investcorp, has acquired Power Asset Recovery Corporation (PARC), a North Canton, Ohio-based supplier of substation power transformers and high-voltage transformer parts. The acquisition expands RESA Power's transformer services and parts capabilities and accelerates PARC's entry into RESA's broader national footprint; it is RESA's eighth acquisition in 2024.

Funds advised by Basalt Infrastructure Partners LLC have completed the acquisition of AEP OnSite Partners from American Electric Power (AEP). AEP nets approximately $318 million in cash after taxes, transaction fees and customary adjustments; the sale received required regulatory clearances including FERC and HSR approvals.

Pilot Energy, backed by Boyne Capital Partners, has acquired Worthington Energy Consultants, a Columbus, Ohio–based energy consulting firm, to strengthen Pilot's national presence and capabilities in deregulated markets including CAISO and PJM. Worthington's Principal Craig Grant will continue to lead day-to-day operations as the firm is integrated into Pilot's platform.

Pilot Power Group, a portfolio company of Boyne Capital Partners, has acquired Trebel Energy, a provider of electricity and natural gas procurement services serving municipal aggregation (CCA) and commercial clients in Ohio. The deal positions Pilot to expand its capabilities and presence in the Ohio CCA market by adding Trebel’s CCA expertise, customer relationships and procurement operations.

Ameresco, a cleantech integrator, has acquired Plug Smart, an Ohio-based energy services firm specializing in building controls and building automation systems. The acquisition expands Ameresco's smart buildings and controls capabilities and adds to its clean-energy project pipeline across government, education, healthcare and commercial markets.

Magellan Scientific, LLC closed its initial round of equity funding and simultaneously acquired 1,600 MicroBT Whatsminer M30S ASIC mining servers. The company will deploy the servers across Q4 2021 and Q1 2022, using ~6MW of its 100MW off-grid capacity in Ohio and Pennsylvania to expand Bitcoin production and hold mined digital assets.

IGS Energy has acquired Columbus-based JadeTrack, a sustainability-focused software provider that helps commercial and industrial customers manage energy use, automate utility bill management and monitor real-time energy performance. The purchase expands IGS Energy’s commercial sustainability and energy-management capabilities as it integrates JadeTrack’s platform into its offerings.

Flyers Energy, LLC acquired Fleet Express Commercial Fueling, a division of Mansfield Energy Corp, expanding Flyers' unattended cardlock fueling network in and around Dayton, Ohio. The acquired sites will operate under Flyers' Quick Fuel brand; DCA Partners served as Flyers' M&A advisor on the transaction.