Shrewsbury energy consultant acquired by Maine competitor
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Risk Services Group offices at 364 Boston Turnpike, Shrewsbury
Competitive Energy Services, an energy management services firm with offices in Portland and Topsfield, Mass., said Tuesday it would acquire Risk Services Group, a Shrewsbury, Mass., electricity and natural gas procurement consulting business.
The deal was finalized Sept. 8. Terms were not disclosed.
Competitive Energy Services said it would work with Risk Services Group founder Bill O’Brien throughout the remainder of 2022 to ensure a smooth transition for the latter’s clients, who are expected to benefit from expanded access to information and services due to CES’s larger size and range of consulting services.
Founded in 2000 by energy professionals, CES offers energy management services to clients from Atlantic Canada to California with energy and utility expenditures in excess of $2 billion.
Risk Services Group has been providing energy commodity brokerage and consulting services to commercial, industrial and institutional clients throughout the Northeast since 2003. The transition came about when O’Brien started thinking about the company’s long-term prospects.
“I have watched CES for more than a decade; we are both active in the same energy markets and provide the same commodity procurement and energy advisory services,” O’Brien said in a news release.
CES’s president and COO, Andrew Price, said his firm’s larger size would make it possible to offer RSG’s clients additional services including sustainability, budgeting, on-and off-site renewable generation options, and other consulting services.
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