ADVISORSHARES HVAC AND INDUSTRIALS ETF: CEP Expands with Tri-Tech Energy Acquisition for Enhanced Efficiency
- AdvisorShares HVAC and Industrials ETF benefits from CEP's acquisition of Tri-Tech Energy, enhancing HVAC service capabilities and customer base.
- The acquisition strengthens CEP's position in the Mid-Atlantic, targeting over five million commercial and industrial buildings.
- CEP's strategy aligns with growing demand for energy efficiency in HVAC, promoting sustainability and innovative service delivery.
CEP Expands Footprint with Strategic Acquisition of Tri-Tech Energy
Climate Efficiency Partners, LLC (CEP) continues to assert its leadership in the HVAC and energy efficiency sector with the recent acquisition of Tri-Tech Energy, based in Boonton, New Jersey. This acquisition, supported by 424 Capital, marks a significant step in enhancing CEP’s capabilities and customer base within the commercial and industrial (C&I) market. Tri-Tech Energy, with over 35 years of experience, specializes in HVAC preventative maintenance, 24/7 service and repair, and design/build installation services. The company’s focus on replacements, retrofits, and energy efficiency upgrades aligns seamlessly with CEP’s mission to deliver superior HVAC services while collaborating with clients to reduce operating costs and energy consumption.
The strategic importance of this acquisition extends beyond numbers; it strengthens CEP’s position in the Mid-Atlantic region, which hosts over five million C&I buildings. By integrating Tri-Tech’s portfolio of several hundred C&I buildings, CEP is poised to deepen its long-term customer relationships and enhance service offerings. Sprague Cook, CEP’s President & CEO, underscores the synergy between CEP and Tri-Tech, particularly highlighting the latter’s reputation for quality service. This reputation not only complements CEP’s operational goals but also enhances its service delivery model, creating opportunities for further innovation in energy efficiency practices.
Moreover, the acquisition is a part of a broader trend toward increased energy efficiency in C&I buildings, as noted by Brian Kelly, a Principal at 424 Capital. The growing emphasis on sustainable practices in the HVAC industry positions companies like CEP at the forefront of this movement. With prior acquisitions, including Diversified Refrigeration and East Coast Plumbing & HVAC, CEP is strategically building a diverse portfolio that enhances its service capabilities and market reach, ultimately contributing to a more energy-efficient future for its clients.
In addition to its growth strategy, CEP’s acquisition of Tri-Tech Energy signals a robust response to the increasing demand for energy efficiency services within the commercial sector. The collaboration between the two firms promises to leverage best practices in HVAC services, setting a benchmark for quality and efficiency in the industry. This development reflects a shift in the HVAC landscape, where companies are prioritizing strategic partnerships to meet the evolving needs of C&I clients while addressing environmental sustainability goals.
As CEP integrates Tri-Tech Energy into its operations, the HVAC and industrial sectors can expect enhanced service offerings that align with both operational efficiency and sustainability objectives, further solidifying CEP’s role as a leader in energy efficiency solutions.