Austin-based CLEAResult continues growth with acquisition

Sep 16, 2014
Austin American Statesman

In its second acquisition in a month, Austin-based CLEAResult, which provides energy management services, has purchased a nonprofit Oregon-based company


CLEAResult, founded in 2003, designs and implements energy efficiency programs for utilities, governments, schools and businesses


The company also works with data centers and other large commercial energy consumers to manage energy more efficiently


In 2010, CLEAResult ranked 144th on Inc. magazine’s list of the 500 Fastest-Growing Private Companies. Today, the company has 1,500 employees in 40 cities in the U.S. and Canada


Financial terms for the purchase of Portland-based PECI were not disclosed. Founded in 1979, PECI designs and manages energy efficiency programs for utility providers, government organizations and other clients


The PECI name will remain separate from CLEAResult and the company will continue to operate as a nonprofit led by its current board of directors


“PECI is a foundational pillar in the energy efficiency industry, and we are thrilled that together we will usher in the next generation of energy efficiency,” said Glenn Garland, CEO of CLEAResult


Last month, CLEAResult acquired Populus LLC of Boulder, Colo., for an undisclosed price


Populus specializes in residential programs and advises customers on investments in energy-efficiency technology and services. Populus’ services are being folded into CLEAResult’s offerings, and the firm is retaining its offices and employees in the Boulder area


In 2011, Boston-based venture firm General Catalyst Partners took a stake in CLEAResult. The terms of the deal, which was CLEAResult’s first outside institutional investment, were not disclosed


Last year, growth equity investment firm General Atlantic bought a minority stake in CLEAResult from General Catalyst Partners. Terms were undisclosed



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