Greentech Lead America: PowerSecure International, a provider of utility and energy technologies to electric utilities, and their industrial, has secured 100 percent ownership of its solar business with the purchase of the final 10 percent ownership stake from Southern Energy Management.
The company also announced it has gained 100 percent ownership of its IES LED lighting business with the purchase of the final 33 percent ownership interest from IES.
In addition, PowerSecure has acquired Powerline EHV & Safety Training, a provider of utility infrastructure safety training.
The company completed these three transactions for approximately $1.3 million in cash and approximately $3.0 million in common stock, for a total aggregate value of approximately $4.3 million.
As a result of these transactions, PowerSecure is now positioned to capture 100 percent of the net income from these businesses in the future, and has bolstered its utility infrastructure safety and training programs with additional resources and capabilities.
“Given the momentum we are seeing, we anticipate the cumulative impact of these acquisitions will be modestly accretive to 2013 earnings,” Sidney Hinton, chief executive officer of PowerSecure.
PowerSecure provides energy efficient lighting technologies to improve the quality of light, including its proprietary EfficientLights LED lighting products for grocery, drug and convenience stores, and its SecureLite area light and PowerLite street lights for utilities and municipalities.