Siemens Acquires Pace Global Energy Services, LLC

Acquisition Will Enhance Siemens Portfolio with New Energy Consulting and Management Services

Tuesday, January 10, 2012

Siemens Industry, Inc. today announced it has completed the acquisition of Pace Global Energy Services, LLC in Fairfax, Va. Financial details were not disclosed.

The acquisition of Pace Global supports Siemens 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, its experience with C-Suite decision support and its commercial solutions—including energy and carbon management (ECM) capabilities—are a natural fit with Siemens sustainability and energy management solutions. This creates a valuable, useful and seamless solution set that supports both the executive decision process and operating efficiencies.

"Sustainability and energy efficiency are top priorities for enterprises and municipalities,” said Andreas Schierenbeck, president of the U.S. Building Technologies Division of Siemens. “With a current portfolio ranging from energy services to performance contracting, we have expanded our capabilities with the addition of energy consulting and procurement services. By combining both companies’ market-leading solutions, Siemens has formed an end-to-end energy consulting and project delivery capability that is unique in the market, and is a perfect complement to the realities of running today’s business operations.”

Pace Global has a 36-year history providing energy services to a global portfolio of clients. The 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.

Pace Global will integrate within the Siemens Building Technologies division, but will continue to operate as a separate operating unit. Timothy F. Sutherland will continue to lead the operating unit after the acquisition, and Pace Global’s executive staff and employees will remain intact. With offices in Fairfax Virginia, Houston Texas, Columbia South Carolina, London and Moscow, Pace Global provides international reach and integrated access through the company’s experience, knowledge base, tools and consulting services for clients in more than 60 countries around the world.

Siemens Infrastructure & Cities Sector, with approximately 87,000 employees worldwide, offers sustainable technologies for metropolitan areas and their infrastructures. Its offerings include complete traffic and transportation systems, intelligent logistics, efficient energy supply, environmentally compatible building technologies, modernization of the way power is transmitted and distributed, and smart consumption of electricity.  The sector is comprised of the Rail Systems, Mobility and Logistics, Low and Medium Voltage, Smart Grid and Building Technologies Divisions as well as Osram Sylvania. 

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Steve Kuehn