Energy Acquisitions in Washington

Bernhard Capital Partners has entered into a definitive agreement to acquire Optimum Energy, a global provider of HVAC optimization software, analytics and engineering services; financial terms were not disclosed. Optimum will remain led by President Larry Stapleton and will partner with Bernhard to expand its technology, capabilities and global customer base; Cascadia Capital acted as financial advisor to Optimum.

Southwire Company, LLC has acquired Novinium, Inc., a Kent, Washington–based cable rejuvenation solutions provider for electric utilities. The deal expands Southwire's Services business and gives it field-service capabilities (CableCure) to support utility reliability and resiliency efforts.

Macquarie Asset Management (via Macquarie Global Infrastructure Fund) and Ontario Teachers' Pension Plan Board closed the acquisition of a 31.6% stake in Puget Holdings from CPP Investments. The stake gives the investors ownership in Puget's primary operating subsidiary, Puget Sound Energy (PSE), a regulated electric and natural gas utility serving customers in Washington State; the deal follows regulatory approvals and reflects buyers' interest in core infrastructure and the clean-energy transition.

TRC Companies, Inc. has acquired Seattle-based EMI Consulting to expand its advanced energy capabilities. The acquisition brings roughly 30 evaluation, measurement & verification, and data analytics specialists into TRC to strengthen its utility and clean energy consulting offerings.

CRU Group has acquired Coking.com, Inc., the U.S.-based operator of the RefComm conference series and provider of refinery-focused consulting, training, and field services. The deal brings RefComm’s flagship Delayed Coking conference and technical services into CRU’s events and energy market intelligence portfolio, with Coking.com owners Paul Orlowski and Evan Hyde remaining with the business.

Tendril, a Boulder-based provider of AI-powered utility customer experience and demand-side management (DSM) solutions, has entered into a definitive agreement to acquire EnergySavvy, a Seattle-based leader in personalized utility customer engagement. The acquisition expands Tendril’s platform capabilities by adding EnergySavvy’s multi-channel personalization, advanced analytics and automated program delivery to deliver an end-to-end residential utility customer experience.

Italian utility Enel (through its North America renewables unit) acquired 100% of U.S.-based Demand Energy Networks, Inc., a developer and operator of energy storage systems and the DEN.OS energy management software, for an undisclosed amount. Enel said the deal will strengthen its position in the battery storage market and allow rapid global scaling of Demand Energy's software and project capabilities across Enel's renewables portfolio.

Doosan Heavy Industries & Construction has acquired Seattle-based 1Energy Systems and will rename the business Doosan GridTech. The deal gives Doosan advanced distributed energy resource and energy storage management software capabilities and a stronger foothold in the U.S. market; 1Energy's roughly 30 MW of projects and team of about 25 employees will operate as a subsidiary of Doosan Heavy.