by Shane Henson — January 9, 2012—In a strategic move to enhance its portfolio through providing new energy consulting and management services, Siemens Industry Inc., a provider of sustainable technologies for metropolitan areas and their infrastructures, has acquired Pace Global Energy Services LLC.
Pace Global has a 36-year history providing energy services to a global portfolio of clients. The Fairfax, Virginia-based company manages more than $5 billion in energy spend for 200 clients around the world, oversees a risk portfolio valued at approximately $10 billion, and supports the development, acquisition, and financing of over $100 billion of energy assets worldwide. Pace Global combines in-depth industry knowledge with commercial, technical, financial, and regulatory expertise to help organizations maximize enterprise value and manage risk in today’s complex energy and environmental markets. The company’s services include renewable energy development.
According to Siemens’ leadership, the acquisition of Pace Global supports its strategic commitment to enhance enterprise value for its global clients by truly optimizing energy and resource efficiency. Pace Global’s deep knowledge of energy markets and its experience with C-Suite decision support and its commercial solutions—including energy and carbon management (ECM) capabilities—are expected to be a natural fit with Siemens’ sustainability and energy management solutions.
According to both parties, Pace Global will integrate within the Siemens Building Technologies division, but will continue to operate as a separate operating unit.
