Schneider acquires Summit Energy to strengthen its energy management services
October 12, 2011 - Schneider Electric has acquired Summit Energy Services Inc., a player in outsourced energy procurement and sustainability services to industrial, commercial and institutional enterprises.
By Anthony Capkun
“The acquisition of Summit Energy allows Schneider Electric to broaden our energy management services and solution portfolio, offering customers the ability to manage and optimize their energy consumption from the supply side through the demand side, while also growing our energy and environmental online reporting capabilities,” said Chris Curtis, Schneider Electric’s senior executive VP, North America (in photo).
Summit Energy provides its clients with services of energy procurement, risk management, market intelligence, data management and sustainability consulting. It employs more than 350 individuals based in 11 international offices across North America and Europe, and serves client facilities in more than 90 countries. Summit Energy is expected to generate sales of about $65 million for the current year.
“By joining with Schneider Electric, we will be able to deliver Summit’s unique service offering to Schneider Electric customers,” said Steve Wilhite, Summit Energy’s president and CEO. “In recent years, we have invested heavily in people and technology to serve our clients. In combining our strengths with Schneider Electric’s resources, Summit Energy will be even better positioned to lead our clients to cost-effective and sustainable energy.”