NEW YORK, OAKLAND, Calif. and STAMFORD, Conn., June 24, 2019 /PRNewswire/ -- Integrated Energy Services ("iES"), the market leading provider of grid relationship management software and demand response services, a portfolio company of Gainline Capital Partners ("Gainline"), announces that it has acquired MACH Energy® ("MACH"), an award-winning energy management and sustainability software platform. Terms of the transaction were not disclosed.
The combination of iES and MACH brings together two highly talented teams with a shared focus on providing best-in-class software and client experiences. iES and MACH provide a comprehensive set of solutions to increase building efficiency and net operating income ("NOI") while improving the resiliency and reliability of the power grid.
Brock Nigg, iES's Founder and CEO, commented, "iES's mission to decarbonize the grid in partnership with our building owner and facility and property management clients requires both scale and engagement. MACH's team, platform and blue-chip customer base are highly complementary to this mission and we are thrilled to come together. Our combined passion to help our building clients increase NOI and participate in decarbonization and other sustainability initiatives will drive tremendous value for customers."
"MACH is excited about the next chapter of serving commercial buildings. iES's innovative grid relationship management platform and healthy buildings capabilities will be highly beneficial to our collective customer base," said Jon Moeller, MACH CEO.
"iES's organic growth trajectory has been impressive," said Allan Weinstein, Managing Partner of Gainline. "MACH's strong reputation and national footprint will accelerate the combined company's future growth as we continue to leverage technology to address key environmental, social, and governance (ESG) initiatives in the market. We are excited to support the partnership."
About Integrated Energy Services Integrated Energy Services provides grid relationship management software and demand response services to commercial electricity customers. The Company's EnergyDeskTM and TheodoraTM software solutions allow customers to monitor real time energy data, generate savings, improve building efficiency, and achieve environmental and sustainability goals.
About MACH Energy MACH is a modern energy management and sustainability software platform for commercial buildings. MACH's intuitive analytics, enterprise reporting and utility customer engagement tools help save building personnel and owners time and money and increase ENERGY STAR scores.
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About Gainline Capital Partners Gainline Capital Partners is a private equity firm that invests in U.S. based middle market companies. The firm invests in profitable companies with enterprise values of up to $250 million. Gainline partners with management teams to help execute their vision, drive sustainable growth and create long term value.
SOURCE Gainline Capital Partners