Houston-based energy management and consulting firm Infinity Power Partners has been acquired by New York City-based Environ Energy, which also offers energy management and consulting services.
The deal creates a new “anchor segment” for Environ in the multifamily market. With the addition of Infinity Power’s roughly 2,000 clients in the multifamily sector, representing more than 1 million multifamily units under contract, Environ now has more than 8,000 U.S. clients in the commercial real estate, healthcare, manufacturing, education and government sectors.
“This acquisition continues to solidify our presence in key energy markets while aligning with founders who share our deep commitment to client success,” Environ CEO Chris Sternberg said in a news release.
Infinity Power co-founders and managing partners Nick Altman and Peter Selber have joined Environ, a portfolio company of investment firm 424 Capital. Altman and Selber founded Infinity Power in 2011.
“We built our business one relationship at a time,” Selber said, “with a strong commitment to the communities we serve. That same dedication is reflected in Environ’s approach — now delivered at scale.”
Altman says the acquisition is part of the “next chapter” in energy management. Energy management services help commercial customers reduce utility bills, improve equipment life, achieve green energy goals, and decrease risk tied to fluctuating energy prices.
“Energy management is a culture for continual improvement of energy performance and efficiency that’s integrated within an organization’s normal business practice,” according to the U.S. Office of Energy Efficiency & Renewable Energy.
In all, Environ has made six acquisitions in the past 17 months.
Last year, Environ acquired another Houston-based energy management and consulting firm, CSD Energy Advisors. In that deal, Environ gained nearly 1,000 clients, including several Fortune 500 companies and three large industrial energy users in Texas. As part of the deal, CSD co-founders Andrew Barth and JB Sowyrda joined Environ.
Also last year, Environ purchased Carrollton-based energy advisory firm Rapid Power Management (RPM).
