FMI Advises SmartWatt on Sale to Centrica

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Jul 23, 2019, 11:00 ET

RALEIGH, N.C., July 23, 2019 /PRNewswire/ -- FMI Capital Advisors is pleased to announce the sale of SmartWatt Energy, Inc. ("SmartWatt") to Centrica plc ("Centrica"). SmartWatt will become part of Centrica's Distributed Energy & Power business, Centrica Business Solutions. FMI Capital Advisors served as the exclusive financial advisor to SmartWatt for this transaction.

SmartWatt has nearly two decades of experience improving energy systems and delivering optimum financial performance, human comfort, safety and productivity for commercial, industrial and public-sector customers. SmartWatt's team of experts focus on combining lighting retrofits and efficiency upgrades such as HVAC, building automation, water conservation and performance assurance (M&V) as well as solar power to meet customers' specific energy needs. Headquartered in Albany, New York, and with 14 offices in the U.S., SmartWatt has contractor licenses throughout the country and has completed over 24,000 energy solutions projects, including projects for FedEx, University of California, Nestle and Pepsi. The SmartWatt acquisition will broaden Centrica's footprint in the U.S. and provide enhanced capabilities to meet increasing customer demand for integrated energy solutions.

"We look forward to joining Centrica Business Solutions," said Chris Covell, Founder and CEO, SmartWatt. "Centrica's technology solutions and long history of leadership in the energy industry will help us deliver better solutions to our customers. We are delighted to join forces with a distributed energy solutions market leader."

Centrica plc is an international energy and services company. Centrica Business Solutions delivers integrated energy solutions for businesses and other large energy users, combining distributed energy technologies and a variety of commercial options to improve performance and cost management, drive decarbonization, strengthen resilience, and create opportunities for growth.

About FMI Capital Advisors:

FMI Capital Advisors, a subsidiary of FMI Corporation, is a leading investment banking firm exclusively serving the Built Environment. With more than 700 completed M&A transactions, our industry focus enables us to maximize value for our clients through our deep market knowledge, strong technical expertise and unparalleled network of industry relationships.

FMI Capital Advisor's Energy Solutions & Cleantech Group provides M&A and capital formation services for companies in the energy solutions and cleantech industry, including those focused on:

Energy Efficiency
Solar, Wind, Biomass
Distributed Generation
Energy Procurement
Demand Response
Operations & Maintenance
Energy Management Systems
Utility Demand Side Management
Power Quality & Reliability
Energy Storage
Intelligent Buildings, IoT
Measurement & Verification

FMI Capital Advisors Contact:
Tim Huckaby
President, FMI Capital Advisors
Managing Director, Energy Solutions & Cleantech
303.398.7265
[email protected]

SOURCE FMI Corporation