World Energy Acquires GSE Consulting for $8.6 Million
Posted in Uncategorized on November 1st, 2011 by News Desk –Worcester, Mass. — World Energy Solutions, an energy management services firm, announced on Tuesday it has acquired GSE Consulting, a privately held, Dallas-based energy management and procurement company, for about $8.6 million in cash.
World Energy said the acquisition provides it a major foothold in Texas, which it calls the largest de-regulated electricity market in the U.S., as well as a significant presence in the small and medium-sized business market.
Founded in 2002, GSE helps companies implement strategies to control and reduce energy costs. Its energy management services are designed to lower electricity and natural gas costs, reduce energy consumption, provide long term energy management strategy, and implement risk mitigation strategies.
World Energy said will retain the services of more than 20 GSE employees across three offices, in Dallas, Fort Worth and Houston.
World Energy, which is traded on the Nasdaq (NASDAQ: XWES), was founded in 2001. Since then, the company has transacted more than $20 billion in energy, demand response and environmental commodities on behalf of its government, commercial & industrial, and utility customers.
