Ameresco purchases Ohio-based smart building firm
Photo | Courtesy of Kelleher & Sadowsky Associates, Inc.
Headquarters of renewable energy firm Ameresco at 111 Speen St. in Framingham
Framingham-based energy resilience firm Ameresco has purchased ASA Controls, a contractor and system integrator based in Cincinnati, Ohio, in an effort to boost its smart buildings and control offerings.
ASA Controls was founded in 2003 and has developed a reputation for optimizing functionality and operational efficiency of buildings, according to a Monday press release issued by Ameresco.
"We are thrilled to welcome ASA Controls to the Ameresco family," Lou Maltezos, president of Central & Western USA, Canada Regions at Ameresco, said in the press release "The combined expertise and resources of our teams will enable us to tackle larger, more complex projects and drive significant value for our customers."
Financial terms of the transaction were not disclosed, but Ameresco does not expect the purchase will have a material impact on its 2025 financial results.
"We are excited about the opportunities this acquisition brings," Mike Agnew, managing founder of ASA Controls, said in the press release. "Joining forces with Ameresco allows us to leverage their extensive resources and expertise, providing even greater value to our customers and supporting the growth and development of our team."
The global smart building market was valued at $108 billion in 2023, according to California-based research firm Grand View Research.
Ameresco announced in December it will be building a $8-million microgrid project in the Canadian province of New Brunswick, one of several large government contracts it has obtained. The firm has received more than $494 million in government contract award payments in the last year, according to Nasdaq.com.
Eric Casey is the managing editor at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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