Harris Williams & Co., premier middle market investment bank, announces the sale of APS Energy Services, a full-service energy service company, from Pinnacle West Capital Corporation (NYSE:PNW) to Ameresco, Inc. (NYSE:AMRC), a leading energy efficiency and renewable energy company. Harris Williams & Co. acted as the exclusive advisor to Pinnacle West. The transaction was led by Brian Lucas, Luke Semple and Tiff Armstrong from the firm’s Energy & Power Group.
“The acquisition is a great example of the strength of M&A activity in the energy efficiency sector,” said Brian Lucas, a director in Harris Williams & Co.’s Energy & Power Group. “Energy efficiency remains the most practical and cost-effective solution for reducing energy consumption, lowering energy costs, and addressing environmental concerns and we continue to see strong demand for companies delivering energy efficiency solutions. The sale is our fourth recent transaction in the energy efficiency sector."
Pinnacle West Capital Corporation, an energy holding company based in Phoenix, AZ has consolidated assets of about $12.3 billion, more than 6,300 megawatts of generating capacity and about 6,700 employees in Arizona and New Mexico. Through its principal subsidiary, Arizona Public Service, PNW provides retail electricity service to more than 1.1 million Arizona homes and businesses.
Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is the premier middle market advisor with a two-decade legacy of sell side excellence serving clients worldwide. The firm is focused exclusively on the middle market providing sell side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.
The firm’s Energy & Power Group has experience across a broad range of sectors, including energy efficiency & cleantech, industrial & infrastructure services, oil & gas products and services, power equipment and services, engineering & construction and environmental services. For more information, please contact Brian Lucas, Luke Semple or Tiff Armstrong at +1 (804) 648-0072.
Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, an Appointed Representative of Sturgeon Ventures LLP, which is authorised and regulated by the Financial Services Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business in the U.S. and Europe, respectively.
For general release inquiries, please contact Kimberly Baker, marketing director, at +1 (804) 648-0072.
Contacts:
Kimberly Baker, marketing director,
+1-804-648-0072
