A Texas energy management and consulting company acquired Texas Power Consultants in a move that will broaden the range of services the new firm will offer.
Priority Power Management is hopeful that the acquisition will bolster its portfolio and expand its reach into east Texas while giving Texas Power Consultant's clients access to expanded services and technology to achieve a lower carbon footprint, the companies said in a joint release posted on businesswire.com in November.
The partnership is built not only on the two companies' shared belief in customer services and quality but also on a history that starts before either company was founded.
John Bick, managing principal at Priority Power, and co-founders of Texas Power Consultants, Jack Bailey and Victor Davis worked together at TXU Energy in the 1990s.
"TPC holds the same values as Priority in putting the customer first by maintaining objectivity and ensuring a high level of ongoing service," Bick said in the release. "I am confident that we will further enhance the experience for TPC's customers as they access Priority's expanded service offerings and deep experience."
Texas Power Consultants is a small company. Davis and Bailey are the only two employees, but in the company's 15 years, they have built a loyal client base, one Priority Power hopes to maintain and expand, the release said.
Texas Power Consultants' clients range from small family-owned businesses to large government branches, the release said. They primarily offer advice on efficient electricity usage, conduct energy audits and assistance with power contracts.
Priority Power Management operates across 37 states and offers similar services to Texas Power Consultants while also focusing on reducing greenhouse gas emissions and carbon footprints, the release said. The company is backed by Ara Partners, a private equity firm specializing in industrial de-carbonization investments and reimagining electric power generation.
Both parties are optimistic about the partnership.
"I am excited to join forces with Priority Power to combine our resources to provide a broadened range of services for our customers," Bailey said in the release. "I could not be prouder of our accomplishments to date and am extremely excited for what the future holds."