Acquisition adds additional regulatory and energy management expertise to Priority Power’s portfolio
THE WOODLANDS, Texas & AUSTIN, Texas–(BUSINESS WIRE)–Priority Power Management, Inc. (“Priority Power” or the “Company”), a leader in energy optimization and infrastructure offering smart energy solutions and streamlined transitions to carbon neutrality, today announced that it successfully completed its acquisition of the regulatory advisory experts and Texas-based renewable energy offtake and consulting business of AB Power Advisors.
This transaction further increases Priority Power’s standing as the premier energy management provider in the ERCOT market. This acquisition marks the third major acquisition for Priority Power in the past 18 months, and the second in the past 60 days.
AB Power Advisors is known throughout the industry for their proprietary regulatory coverage of the ERCOT market, as well as their successful track record commercializing renewable generation projects to support the nations’ growing ESG and carbon reduction goals for large commercial and industrial customers. Priority Power, already a fixture in the Austin community, will now have an Austin office. In the past year, Priority Power has grown to 160 employees, with offices in The Woodlands, Arlington, Midland and Austin, Texas, as well as Chicago, Illinois.
“Corporations trust AB Power Advisors for their regulatory coverage and market guidance designed to support mission critical and long term energy strategies,” said Brandon Schwertner, Chief Executive Officer of Priority Power. “AB Power Advisor’s business is a perfect complement to our robust suite of offerings. This acquisition solidifies Priority Power’s role as the leading experts in all facets of energy optimization.”
Ryan Aldridge, Managing Partner of AB Power Advisors, added, “Priority is a well-respected company with a successful track record of providing innovative solutions that meet their customer’s needs. This transaction will expand the reach of AB Power Advisors services and assist more customers in navigating the complex and ever-changing power markets as we move through the Energy Transition.”
In 2021, Priority Power acquired Satori Energy, a leader in energy procurement and consulting throughout the United States. Earlier this summer, Priority Power acquired AGE, an energy management services and solar development firm that serves hundreds of municipalities, Chambers of Commerce, businesses and industrial clients throughout Illinois and Ohio.
About Priority Power:
Priority Power, backed by funds managed by Oaktree Capital Management and Ara Partners, serves over 7,000 clients, totaling $2.7 billion in energy spend, across nearly every industry and vertical, and has well over $300 million of energy projects completed, with approximately $1 billion in energy infrastructure in varying stages of development.
Priority Power is leading the Energy Transition with proven integrity, trust and transparency.
Priority Power combines energy optimization and infrastructure expertise, with our proprietary technology, PriorityView, to help largescale commercial/industrial businesses achieve decarbonization and sustainability goals while also maximizing savings and efficiency. For more information on Priority Power, please visit www.prioritypower.com and linkedin.com.
About AB Power Advisors:
AB Power Advisors is a premier advisory services firm that specializes in delivering customized solutions to the U.S. Power industry. Our clients look to AB for the following service offerings:
- Regulatory Advisory / Market Analysis
- Energy Procurement / Asset Optimization
- Renewable /Thermal Offtake Origination
- Capital Deployment / M&A Support
For more information on AB Power Advisors, please visit www.abpoweradvisors.com and linkedin.com (https://www.linkedin.com/company/ab-power-advisors).
Contacts
Katherine Tappan
Investor Relations
501-951-5282
ktappan@prioritypower.com
