AdvisorShares HVAC and Industrials ETF Sees Growth as Climate Efficiency Partners Acquires Tri-Tech Energy
- Climate Efficiency Partners expands its HVAC services by acquiring Tri-Tech Energy, enhancing its client base in the Mid-Atlantic region.
- The acquisition brings hundreds of commercial clients to CEP, reinforcing its commitment to energy efficiency and operational excellence.
- CEP's strategy includes previous acquisitions, positioning it as a leader in delivering innovative HVAC solutions and sustainability efforts.
Climate Efficiency Partners Expands Its Reach with Strategic Acquisition
Climate Efficiency Partners, LLC (CEP), a key player in the HVAC and energy efficiency sector, has recently announced its acquisition of Tri-Tech Energy, a New Jersey-based provider with over 35 years of experience in HVAC services. This acquisition, supported by 424 Capital, marks a significant step in CEP's strategy to enhance its service offerings and expand its customer base in the lucrative Mid-Atlantic region, which is home to more than five million commercial and industrial (C&I) buildings. The integration of Tri-Tech Energy's portfolio, which focuses on preventative maintenance, repair, and energy efficiency upgrades, positions CEP to better serve its existing clients while attracting new ones.
The addition of Tri-Tech Energy brings several hundred C&I clients into CEP's fold, reinforcing its commitment to delivering superior HVAC services and fostering long-term relationships. This move aligns with CEP’s ongoing initiative to reduce operating costs and energy consumption for businesses in the region. Sprague Cook, CEP’s President & CEO, underscores the importance of Tri-Tech's strong reputation for quality service, which not only complements CEP’s existing offerings but also enhances its overall market position. The acquisition is set against a backdrop of rising demand for energy-efficient solutions in commercial settings, reflecting a broader trend towards sustainability in the HVAC industry.
Michael Tartaglia, the founder of Tri-Tech Energy, expresses enthusiasm about joining forces with CEP, emphasizing a shared vision of best practices in HVAC service delivery. This collaborative spirit is expected to foster innovation and operational excellence within both organizations. Furthermore, Brian Kelly, a Principal at 424 Capital, notes that this investment aligns with the growing emphasis on energy efficiency in the C&I sector, signaling a proactive approach to addressing the evolving needs of businesses.
In addition to this acquisition, CEP has previously expanded its footprint by acquiring companies such as Diversified Refrigeration in Pennsylvania and East Coast Plumbing & HVAC in Delaware. These strategic moves not only strengthen CEP’s capabilities but also enhance its competitive edge in the HVAC and energy efficiency market. As the demand for energy-efficient solutions continues to escalate, CEP is well-positioned to lead the charge in transforming how commercial and industrial clients manage their HVAC needs.
This acquisition solidifies CEP's strategic growth trajectory and commitment to providing innovative and energy-efficient solutions in the HVAC sector, ultimately benefiting clients and contributing to environmental sustainability efforts.