CARLSBAD CALIFORNIA – July 19, 2017 — AESC has joined the family of Energie Valsabbia Spa (EVA) companies, headquartered in Brescia Italy, as a subsidiary of their U.S. based Energia Pacifica holding company. AESC President Antonio Corradini, P.E. made the announcement… “The investment by Energia Pacifica (EP) is strategic for both companies in that it furthers the EVA mission to address U.S. energy markets while strengthening AESC’s ability to serve its clients.”
Corradini commented that “The EVA family of companies owns and operates a significant portfolio of hydroelectric and solar power plants in Europe, and is developing an energy solutions practice to support integration of Distributed Energy Resources within the Smart Grid. AESC adds tremendous energy engineering capabilities and a platform for U.S. operations to EVA’s portfolio of companies.”
AESC’s mission to serve its clients and its core competencies were important elements of the acquisition rationale. The post-acquisition strategy is to invest in growth for AESC’s core energy engineering and utility consulting practice as well as its growing suite of energy modeling and analytic software solutions.
As an AESC employee since 2008 and President since 2016 Mr. Corradini served under the direction of AESC Chairman and majority shareholder Ron Ishii as well as CEO and Principal Raymond Pustinger. Corradini will continue to lead AESC as President and CEO, Minority Shareholder and as a Member of its Board of Directors, while Ishii and Pustinger, consistent with succession planning initiated in 2014, will transition to support roles.
Mr. Ishii, a shareholder and director of AESC since 1994, will continue to serve AESC clients as Principal Engineer and represent AESC as a member of the California Technical Forum. Ishii remarked…” Although I am no longer a shareholder following this transaction, I care deeply about the future of AESC. My goal has always been to grow opportunities for AESC and its team members when considering any merger acquisition offer. The agreement to have AESC join EVA opens a wealth of opportunities through the synergies created.”
Raymond Pustinger – who began his association with the company as a client in 1997, continued as a member of AESC’s Advisory Board from 2005 through 2014 and served as CEO from 2014 until today – will transition back to an advisory role with AESC, providing continuity for certain ongoing initiatives, and continuing to represent AESC on the Executive Committee of the Peak Load Management Alliance. Pustinger commented…” It has been a pleasure to work directly with Antonio for the past several years. The company has grown tremendously under his leadership, diversifying its client base and service offer while building a strong leadership team. The future is bright for AESC as an important resource to the utility community.”
Alternative Energy Systems Consulting (AESC) is an energy engineering practice headquartered in Carlsbad, CA. AESC specializes in utility incentive programs, software solutions, technology assessments, and applying smart grid technology to energy transmission and distribution. Founded in 1994, AESC provides program design and implementation, measurement and verification, and corporate sustainability services to utilities, regulators and private enterprise throughout the United States. AESC’s practical experience and customer relationships position the firm at the intersection of public and private efficiency interests. AESC was represented by Promontory Point Capital in this transaction. www.aesc-inc.com
Click here to view a PDF version of this announcement.