Foley Hoag LLP recently advised Conservation Services Group (CSG), a provider of residential energy efficiency programs, in negotiating a purchase and sale agreement for its assets to CLEAResult, a provider of technology-enabled energy efficiency programs for utilities. The strategic alliance of the two platforms promises to expand the value of energy efficiency to millions of homes and businesses across the nation.
Founded in 1984, Westborough, MA-based CSG currently operates 21 offices with approximately 800 employees across 14 states, and oversees 70 residential energy efficiency programs on behalf of utility clients. Founded in 2003, Austin, TX-based CLEAResult currently has over 1,900 employees in more than 40 cities across the U.S. and Canada.
Upon close of the deal, CLEAResult plans to use CSG to help grow CLEAResult’s services and further establish itself as a leader in energy efficiency. CSG services will be offered as part of the CLEAResult brand, with the same local client program teams from CSG continuing to serve CSG’s existing clients. CLEAResult also plans to further expand the availability of CSG’s residential offerings across North America.
CLEAResult is backed by General Atlantic, a leading global growth equity firm. The transaction is subject to regulatory approval that includes review by the Massachusetts Attorney General.
Foley Hoag attorneys Joe Basile, Kevin Conroy, Chris Natkanski, Seth Jaffe, Teresa Martland, Malcolm Henderson, Robert Fisher, Nicola Lemay, Sharon Lincoln, Corey Brown and Kip Cawley advised CSG on the transaction.