Albireo Energy Acquires Customer Portfolio From Energy Procurement Consultant

Albireo Energy, a building automation and energy services company whose services include energy procurement consulting, announced its acquisition of Bridge Power Consulting’s portfolio of customer contracts.

Bridge Power Consulting, founded in 2013 by what Albireo described as, "deep domain experts in energy trading and market risk management," will continue as an ongoing agent partner representing the full suite of Albireo Energy products and services as part of the energy procurement & advisory division.

Albireo Energy’s Energy Procurement & Advisory Division was formed in November 2018 with the acquisition of Taylor Consulting. The Bridge Power assets will be a tuck-in to its software-enabled energy procurement platform.

"We are thrilled to deploy our growth capital on the Bridge Power assets, which will bring many new clients onto our energy procurement platform and we continue to hunt for portfolios like Bridge Power," said Scott Stiner, General Manager of the Energy Procurement Division at Albireo Energy.

"These new customers will immediately benefit from services such as UtilityModule, the Energy Scorecard, and the UM mobile app," Stiner said

The deal was led by Matthew Wheatley, CRO of the Energy Procurement Division at Albireo Energy

Wheatley commented, "we still see a lot of opportunities for consolidation in the sector and expect to complete a few more tuck-ins soon as counterparties are seeing that Albireo’s platform and service offerings can help them accelerate growth."