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Priority Power Acquires Energy Procurement And Solar Development Business Of Affordable Gas & Electric (Age)

Aug 23, 2022•over 3 years ago

Acquiring Company

Priority Power

Acquired Company

Affordable Gas & Electric

The WoodlandsRenewable EnergyOil And GasEnergyEnergy ManagementEnergy Efficiency

Description

Priority Power Management, Inc. (“Priority Power” or the “Company”), a leader in energy optimization and infrastructure offering smart energy solutions and streamlined transitions to carbon neutrality, today announced that it successfully completed its acquisition of the energy procurement, consulting and solar development business of Affordable Gas & Electric Company, LLC (“AGE”).

Company Information

Company

Priority Power

Location

The Woodlands, Texas, United States

About

Priority Power, backed by Oaktree Capital Management and Ara Partners, serves over 7,000 clients, totaling $2.7 billion in energy spend, across nearly every industry and vertical, and has well over $230 million of energy infrastructure projects completed, and over $1 billion in energy. Priority Power is leading the Energy Transition with proven integrity, trust and transparency. Priority Power combines energy optimization and infrastructure expertise, with our proprietary technology, PriorityView, to help large scale commercial/industrial businesses achieve decarbonization and sustainability goals while also maximizing savings and efficiency. For more information on Priority Power, please visit www.prioritypower.com and linkedin.com/company/priority-power-inc.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed