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MarketScreener Homepage  >  Equities  >  Nyse  >  Ameresco Inc    AMRC

AMERESCO INC (AMRC)
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Ameresco : Acquires TerraNavigator, LLC to Expand Its Pipeline of Renewable Energy Assets

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11/30/2018 | 07:13pm CET

FRAMINGHAM, Mass.--(BUSINESS WIRE)-- Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company, today announced that it has acquired TerraNavigator, LLC, a California-based firm that specializes in the origination and development of solar assets on environmentally-impacted sites throughout the country. With this acquisition, Ameresco will expand its pipeline of potential renewable energy projects with a focus on converting these project opportunities into operating assets that the company will own and operate.

'We are excited to bring TerraNavigator into the Ameresco family,' said Lou Maltezos, EVP of Ameresco. 'In addition to their pipeline of project opportunities, the TerraNavigator team brings experience and knowledge in the renewable energy industry that adds to our existing expertise and represents an ideal fit with Ameresco's strategy. We look forward to advancing our footprint and capabilities in California and the Central and Northwest U.S.A. as we continue to execute on the Company's strategy in the distributed energy resource space.'

As part of the transaction, Ruben Fontes, formerly CEO of TerraNavigator, has joined Ameresco as Senior Vice President, Large Scale Distributed Energy Resources. 'Our team could not be more pleased by this partnership,' said Fontes. 'We look forward to integrating our platform seamlessly into the Ameresco suite of value-driving, customer-focused solutions that are focused on and guided by clean energy and sustainability.'

About Ameresco, Inc.

Founded in 2000, Ameresco, Inc. (NYSE:AMRC) is a leading independent provider of comprehensive services, energy efficiency, infrastructure upgrades, asset sustainability and renewable energy solutions for businesses and organizations throughout North America and Europe. Ameresco's sustainability services include upgrades to a facility's energy infrastructure and the development, construction and operation of renewable energy plants. Ameresco has successfully completed energy saving, environmentally responsible projects with Federal, state and local governments, healthcare and educational institutions, housing authorities, and commercial and industrial customers. With its corporate headquarters in Framingham, MA, Ameresco has more than 1,000 employees providing local expertise in the United States, Canada, and the United Kingdom. For more information, visit www.ameresco.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20181130005315/en/

Kate Cronin
508.661.2288
news@ameresco.com

Source: Ameresco, Inc.

Released November 30, 2018

Disclaimer

Ameresco Inc. published this content on 30 November 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 30 November 2018 18:11:03 UTC

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Financials ($)
Sales 2018 797 M
EBIT 2018 54,5 M
Net income 2018 35,6 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 19,32
P/E ratio 2019 19,06
Capi. / Sales 2018 0,85x
Capi. / Sales 2019 0,80x
Capitalization 675 M
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Mean consensus OUTPERFORM
Number of Analysts 3
Average target price 16,5 $
Spread / Average Target 12%
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Managers
NameTitle
George Peter Sakellaris Chairman, President & Chief Executive Officer
Joseph P. DeManche Executive Vice President-Engineering & Operations
Mark Chiplock Chief Financial Officer, Treasurer, CAO & VP
Dean Lebron Vice President-Information Technology
David John Corrsin Secretary, Director, EVP & General Counsel
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