Siemens acquires energy service provider Pace Global
Acquisition adds energy consulting and management services to Siemens’ portfolio
Zug, Switzerland - The Siemens Building Technologies Division has acquired Pace Global, a U.S.-based energy service provider. The acquisition underscores Siemens’ commitment to helping customers increase the value of their companies by optimizing energy and resource efficiency. Pace Global’s expertise enables Siemens to substantially expand its portfolio of sustainability and energy management services for companies and cities. The parties agreed not to disclose the purchase price.
Pace Global’s business model combines strategic corporate consulting with energy procurement and CO2 management. The company advises enterprises in all matters pertaining to energy strategy and the associated risks, particularly in free energy markets. It offers a comprehensive range of services related to energy supplier markets, from digitization and validation of gas, water and electricity bills to risk-based services for energy purchasing (including market analyses, rate comparisons, contract negotiations and hedging support) as well as strategic consulting mandates. Pace Global’s profound knowledge of global energy markets as well as it commercial solutions and services are a suitable addition to Siemens’ sustainability and energy efficiency portfolio.
The services offered by Pace Global enable Siemens to build a new customized solution portfolio to support its customers in developing strategies, applying them in daily operations and implementing measures. With comprehensive risk analyses, Siemens works with its customers to clarify questions relating to energy purchasing, the most suitable energy carrier, construction of industrial power plants or investing in alternative forms of energy with the goal of securing long-term business success.
The comprehensive range of solutions for energy-related issues also includes resource, sustainability and energy planning, risk management, support for infrastructure development and consulting on legal regulations.
“Sustainability, energy efficiency and supply security are top priorities for companies and cities around the world,” said Dr. Hubert Keiber, CEO of Siemens’ Building Automation business unit. “Pace Global is an ideal addition to our portfolio for these customers, making us the only company able to offer an integrated range of services from strategy development and effective implementation in energy purchasing to optimizing energy consumption.”
Pace Global will be integrated into the Siemens Building Technologies Division as a separate operating unit, with the current CEO, Timothy F. Sutherland, remaining at the helm after the acquisition. Managers and employees are also expected to keep their jobs.
Pace Global has 36 years of experience providing energy services to global customers. Headquartered in Fairfax (Virginia), with offices in Houston (Texas), Columbia (South Carolina), London and Moscow, Pace Global is positioned globally and serves over 200 customers in more than 60 countries. The company manages energy expenditures for its customers of more than US$5 billion, monitors a risk portfolio valued at approximately US$10 billion and supports the development, transfer and financing of energy resources worth more than US$100 billion worldwide.
Energy and sustainability management services are part of Siemens’ Environmental Portfolio. In fiscal 2011, revenue from the Portfolio totaled about €30 billion, making Siemens one of the world’s largest suppliers of ecofriendly technologies. In the same period, our products and solutions enabled customers to reduce their carbon dioxide (CO2) emissions by nearly 320 million tons, an amount equal to the total annual CO2 emissions of Berlin, Delhi, Hong Kong, Istanbul, London, New York, Singapore and Tokyo.
The Siemens Infrastructure & Cities Sector (Erlangen, Germany) with approximately 87,000 employees, offers sustainable technologies for metropolitan areas and their infrastructures. Its offerings include integrated mobility solutions, building and security technology, power distribution, smart grid applications, and low- and medium-voltage products. The Sector comprises the Divisions Rail Systems, Mobility and Logistics, Low and Medium Voltage, Smart Grid, Building Technologies, and Osram AG. For more information, visit http://www.siemens.com/infrastructure-cities
The Siemens Building Technologies Division (Zug, Switzerland) is the world leader in the market for safe and energy-efficient buildings (“green buildings”) and infrastructures. As a service provider, system integrator, and product vendor, Building Technologies has offerings for building automation, heating, ventilation and air conditioning (HVAC), fire protection and security. For more information, visit http://www.siemens.com/buildingtechnologies
Pace Global is a leading energy consulting and management company. It combines deep industry knowledge with commercial, technical, financial, and regulatory expertise to help organizations maximize value and manage risk in today’s complex energy and environmental markets. For more than 35 years and in over 60 countries, Pace Global has worked closely with its clients to define strategies and implement solutions. The company offers a unique, integrated perspective its clients have come to trust, which it calls the Power of Integration. For more information, visit www.paceglobal.com
Reference Number: ICBT201202017e
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