Ameresco Acquires Plug Smart For Undisclosed Sum

Ameresco Inc AMRC acquired Plug Smart, an Ohio-based energy services company, expanding its existing pipeline and solution offerings in the smart buildings sector. Financial terms were not disclosed.

• Plug Smart specializes in developing and implementing budget-neutral capital improvement projects, including building controls and building automation systems.
• Plug Smart noted its experience in building controls and smart building solutions compliments Ameresco's approach to customizing energy solutions.
• Ameresco does not anticipate the acquisition to have a material impact on the FY21 financial results,
• Ameresco held cash and cash equivalents of $93.8 million as of September 30, 2021.
• Price Action: AMRC shares are trading higher by 2.46% at $84.12 on the last check Tuesday.