Bow River Capital Fund Expands Its National Energy Services Operations with Additional Acquisitions and the Creation of Veregy™, a Unifying Trade Name

DENVER, June 24, 2019 (GLOBE NEWSWIRE) -- Bow River Capital (“Bow River”) completed its fifth and sixth acquisitions of Dynamix Energy Services, LLC and Dynamix Engineering Ltd. of Columbus, Ohio. The acquisitions directly follow the merger of Midstate Energy (“Midstate”) in Phoenix AZ, Urban Energy Solutions (“UES”) in Tempe, AZ, Control Technology & Solutions (“CTS”) in St. Louis, MO, and Johnson-Melloh Solutions (“JMS”) in Indianapolis, IN. All six portfolio companies will fall under the umbrella of the newly created trade name, VeregyTM.

The transactions have created a premier Energy Services Company (“ESCO”) with advanced technologies to address the rapidly growing energy efficiency and long-term master planning needs of public entities. Across the United States, Veregy’sTM combined offerings provide comprehensive infrastructure upgrades, energy management, and energy efficiency solutions in mechanical, plumbing, lighting, solar, battery storage, geothermal and customizable building control systems in addition to ongoing facility management and maintenance services. The collective enterprise has delivered billions in energy performance contracts for academic, municipal, healthcare, commercial and federal facilities across 32 states.

"Today is an exciting and transformational day for our companies, and one that brings with it tremendous opportunity for our future success. Our combined companies will continue a legacy of customer centric innovation and service through an expanded platform of solutions supported by our highly experienced and dedicated workforce," said John Hobbes, CEO.

"With the unification of VeregyTM, we will strengthen our value-based customer approach by addressing complex energy optimization and facility improvement challenges while simplifying the energy master planning process for new and existing customers,” added Greg Hiatrides, Managing Director at Bow River Capital.

Unifying to Produce Long-Term Value

  • Diversified performance contracting solutions that compliment any public entity: The collective merger establishes a broad and complementary portfolio of energy conservation capabilities, mitigating the risks associated with public entities sourcing facility improvement services from multiple vendors.
  • Industry leading engineering workforce and technology platforms: With combined company technologies and highly credentialed engineering resources, VeregyTM brings customizable building control systems that allow facility managers to remotely maintain buildings, anticipate needed improvements and reduce energy consumption. Areas of continuing advancement include, but are not limited to: Building Automation Systems, Remote Systems Management Services, Computerized Maintenance Management System (CMMS) Integrator, Automated Electrical Demand Management, Advanced Analytics and Energy Dashboards.
  • Complementary company cultures: Veregy’sTM eco-friendly companies will pursue a performance-based culture, focused on unification, collaboration, transparency, client engagement, innovation, rewarding careers and supporting the environment.

About Midstate Energy
Midstate Energy is an independent provider of comprehensive development, design and engineering services relating to infrastructure upgrades and energy efficient asset sustainability solutions to the K-12 and municipal market in Arizona. Midstate principally utilizes the performance contracting model and arranges external financing tied to the savings generated by the project.

About Urban Energy Solutions
UES was founded in 2005 as a HVAC controls and electrical contracting business. The company is a leading integrator of energy management systems, including HVAC controls, lighting, solar, and battery storage. UES supports numerous leading construction partners, provides comprehensive energy management solutions direct to owners and manages projects under performance contracts.

About Control Technology & Solutions Group
CTS Group is an energy services company that develops and implements turnkey, comprehensive energy efficiency projects. The CTS team of professionals is dedicated to providing innovative energy efficient solutions that lead to a more comfortable and healthier building environment. CTS is based in St. Louis, MO and currently operates in eight states throughout the Midwest.

About Johnson-Melloh Solutions
Founded in 1976 as a full-service mechanical contractor and service company, JMS has focused on offering guaranteed energy savings projects to commercial and municipal entities. Services include energy efficient mechanical system upgrades, water conservation, and renewable energy.

About Dynamix Engineering
Dynamix Engineering is a full-service mechanical, electrical, plumbing, fire protection, and technology engineering firm with a focus on design engineering and systems assessments. The Dynamix team provides consulting engineering services for building and infrastructure systems used in a broad range of facilities across several markets and industry segments throughout the nation.

About Dynamix Energy Services
Dynamix Energy Services is a full service, vendor neutral, Energy Services Company that focuses on implementing and installing creative, well-engineered energy and technology solutions for our customers. The team consists of Professional Engineers from multiple backgrounds including, HVAC, Electrical, Controls, Technology, and Plumbing. This diversity allows DES to maximize the energy and maintenance savings for customers by evaluating opportunities from all angles.

About Bow River Capital
Founded in 2003, Bow River is a private alternative asset management company based in Denver, Colorado, with buyout, real estate, software growth equity, and energy fund platforms. Bow River's buyout funds focus on lower middle market operating companies across the United States.

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Vincent Esparza