Siemens buys Pace Global Energy Services

Sienens

Siemens buys Pace Global Energy Services

Siemens Industry announced the acquisition of Pace Global
Energy Services, an energy consulting and management company in Fairfax, Va.

The company did not disclose financial details.

The acquisition of Pace Global will enhance enterprise
value for Siemens’ global clients by optimizing energy and resource efficiency.

The purchase of Pace Global allows Siemens to extend its reach into the energy market and enhance current
building automation portfolio of energy management solutions and services to
both the private and public sectors.

Pace Global has a 36-year history providing energy
services to a global portfolio of clients. The company manages more than $5
billion in energy spend for 200 clients around the world,

Pace Global’s deep knowledge of energy markets, its
experience with C-Suite decision support and its commercial solutions including
energy and carbon management (ECM) capabilities are well matched to Siemens
sustainability and energy management solutions.

“By combining both companies’ market-leading
solutions, Siemens has formed an end-to-end energy consulting and project
delivery capability that is unique in the market, and is a perfect complement
to the realities of running today’s business operations,” said
Andreas Schierenbeck, president of the U.S. Building Technologies Division of
Siemens.

Under the terms of the acquisition Pace Global will
integrate within the Siemens Building Technologies division, but will continue
to operate as a separate operating unit. Timothy F. Sutherland will continue to
lead the operating unit and Pace Global’s executive staff and employees will
remain intact.


By GreentechLead.com Team
[email protected]