U.S. Energy Services will increase its client base and add a new office in Louisville, Ky.
MINNEAPOLIS, July 20 /PRNewswire/ -- U.S. Energy Services, a leading energy management company, announced today that it has acquired the Energy Management Services business of Integrys Energy Services, Inc. a subsidiary of Integrys Energy Group, Inc. (NYSE: TEG). The terms of the agreement were not disclosed. The transaction is expected to close in the third quarter of 2009.
Through its energy management services business, Integrys Energy Services provided energy consulting and information services for facility and corporate customers in the areas of risk management, strategic sourcing, utility data management, and demand-side energy management. U.S. Energy Services will provide former Integrys Energy Services customers access to an expanded list of services and attention to carbon management strategies, as well as expanded reach to European markets.
With more than $1.5 billion of annual energy spending under management, U.S. Energy Services is one of the nation's largest energy management firms. The acquisition will increase its existing client base of more than 2,000 clients nationwide. The transaction will also add a U.S. Energy Services office in Louisville, Ky., in addition to its existing three offices in Minneapolis, Kansas City and Omaha, Neb.
"We are very excited to integrate our outsourced energy management services with the exceptional companies associated with this sale. This is a major opportunity for us to expand our reach and provide energy savings for a larger client base," said Bill Bathe, president, U.S. Energy Services. "We look forward to providing the same great customer service, for which we're known, to our new and existing clients."
"This agreement is a good fit for our customers and we will work diligently toward a smooth transition with U.S. Energy Services, a leader in energy management services," said Mark Radtke, president and chief executive officer, Integrys Energy Services.
About U.S. Energy Services
U.S. Energy Services, based in Minneapolis, offers a portfolio of energy management services to thousands of clients across the United States, including supply procurement and management, price risk management, plant site development, information services and renewable energy. Specifically, it offers gas and electric supply procurement, nominations, physical and financial hedging, tariff analysis and optimization, energy accounting, bill verification and online reporting of usage and costs.
Since 1993, U.S. Energy Services has maintained a large and diversified client base and has upheld a 95% client retention rate. The company has offices in Minneapolis, Kansas City, Omaha and Louisville. For more information please visit www.usenergyservices.com.
About Integrys Energy Group, Inc.
Integrys Energy Group is a diversified holding company with regulated utility operations operating through six wholly owned subsidiaries, Wisconsin Public Service Corporation, The Peoples Gas Light and Coke Company, North Shore Gas Company, Upper Peninsula Power Company, Michigan Gas Utilities Corporation, and Minnesota Energy Resources Corporation; nonregulated operations serving the competitive energy markets in the United States and Canada through its wholly owned nonregulated subsidiary, Integrys Energy Services; and also a 34% equity ownership interest in American Transmission Company LLC (an electric transmission company operating in Wisconsin, Michigan, Minnesota, and Illinois).
More information about Integrys Energy Group, Inc. is available online at www.integrysgroup.com
SOURCE U.S. Energy Services
