Strategic transaction strengthens Resource Innovations’ deep clean energy industry experience by adding Nexant’s technical expertise, infrastructure, and industry-leading software capabilities
The founding documents for the combined company outline a commitment to diversity through a majority-women board of directors
Resource Innovations, a woman-led energy consulting company, today announced it is adding energy services and software firm Nexant, Inc. to the organization. The combined company will result in a powerful yet nimble organization for driving best-in-class energy and software solutions to utilities and energy consumers.
The experienced Resource Innovations management team, led by Chief Executive Officer Lauren Casentini, will leverage the complementary capabilities and cultures of each legacy company to drive even greater impact and results for clients. Once combined, Resource Innovations and Nexant increase the company’s product portfolio offerings and strengthen each other. The combined organization has innovative leaders across demand side management and smart grid sectors, with tremendous potential to bring clients new tech-enabled solutions for emerging market needs such as demand response, distributed energy resources, and electric vehicles.
"A paradigm shift is happening in the way we generate, transmit, distribute, and use energy," Casentini said. "We’re excited to welcome Nexant, a company that shares our passion and commitment to delivering innovative clean energy solutions. This combined team of industry experts, supported by tech-enabled capabilities and solutions, is poised to guide the energy industry through the clean and sustainable energy transition."
"We’re excited to have found in Lauren Casentini and her Resource Innovations team the perfect partners for taking what we have built at Nexant over the last 20 years to the next level," said Basem Sarandah, founder and CEO of Nexant, Inc. "Lauren has assembled a world-class leadership team for the combined company, and the complementary market profiles of both companies will enable significant growth and new opportunities—creating a true powerhouse for our industry."
Resource Innovations’ proven leadership team and track record of growth and success, combined with Nexant’s industry-leading technical, engineering, and software expertise, will result in a full suite of integrated energy solutions. The companies share similar mission-driven and client-centric cultures.
Resource Innovations was founded by women and uniquely led by an all-women C-suite with decades of industry expertise. The combined company maintains a commitment to meeting clients’ diversity goals, building from Resource Innovations’ national diversity leadership and recognition as the 15th fastest growing private company by Inc. Magazine in 2020. The company will leverage this success to accelerate energy innovation and make clean and sustainable energy more available, accessible, and affordable.
Resource Innovations is bringing capital and equity alongside BV Investment Partners to fund the transaction, and the combined company will remain women led and controlled. The broader platform of the combined company will bring the backing of the investment community to advance diversity in the energy industry with a ground-breaking agreement that establishes diversity metrics into the legal structure and makeup of the combined company. Additional commitments include maintaining a majority-women board of directors; expanding leadership and executive opportunities to diverse candidates; increasing subcontractor, vendor, and partner diversity; and inclusive company policies and practices.
"The strengths of Resource Innovations and Nexant as legacy companies are clear, and we couldn’t be more supportive of Lauren’s vision for the new, combined company, which is poised for growth," said Managing Partner of BV Investment Partners Justin Harrison. "There is long-term potential in clean and sustainable energy investments, and we’re thrilled about her plan to accelerate innovation in this dynamic industry. We are very pleased to partner with Lauren, whose track record as an innovator speaks for itself, and the Resource Innovations and Nexant teams as they embark on this journey."
The new Resource Innovations now has an unprecedented opportunity to drive innovation in energy efficiency, demand response, and emerging sustainable energy markets.
"Through a strong, supportive and inclusive culture, our combined team will be empowered to continue innovating and delivering results to meet the needs of our energy industry clients," said Casentini.
ABOUT RESOURCE INNOVATIONS AND NEXANT TOGETHER
Resource Innovations now combined with Nexant is a substantially woman-owned, woman-led energy consulting firm dedicated to creating equal access to clean resources through diverse partnerships. The company's deep roots and broad expertise in resource efficiency, policy development, coalition and partnership building, and market-based technology support enable the delivery of high-performing clean energy solutions. Nexant brings over 20 years of industry experience in demand-side management, grid management, and renewables, as well as a comprehensive suite of software designed to support these initiatives.
For more information about Resource Innovations and Nexant joining forces, visit www.resource-innovations.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210512005685/en/
Caroline Hutcheson, TrailRunner International