North West-based energy SaaS specialist ESG has acquired Canadian tech firm Pandell.
The terms of the deal haven’t been disclosed but the acquisition takes the combined global workforce to 670.
The acquisition – the sixth by Chorley-headquartered ESG since 2016 – is the biggest to date and will grow their North American footprint, which already accounts for around 50 per cent of their business.
Matt Hirst, CEO of ESG, said: “Since our founding in 1997, ESG has been providing mission-critical software solutions across the energy ecosystem.
“Our market experience paired with technology expertise have long helped energy retailers, traders, and asset infrastructure companies to stay ahead of an ever-changing energy landscape, consumer demands and regulatory requirements.
“With the addition of Pandell, we now serve customers across a broader portion of the energy value chain. We are excited to welcome the brilliant Pandell team to ESG and jointly bring more solutions to the table that help energy players stay ahead as the world works toward energy transition, helping our customers unleash the power in their hands. It’s game-changing for us.”
Pandell is a next-generation SaaS software platform optimising operations for more than 500 energy companies in Canada, the US, and globally.
Through its innovative suite of products in land, GIS, accounting and field software, Pandell serves a wide array of energy companies looking to optimise their operations, including oil and gas, utility and renewable players.
Greg Chudiak, CEO and co-founder of Pandell, added: “Energy companies are facing a complex environment, having to navigate what they must do today to optimise their operations, but also to stay ahead of the demands of tomorrow to meet net zero commitments and rising consumer expectations.
“They need help understanding and capitalising on this transition. And by combining ESG’s broad suite of solutions with our companies’ collective deep sector expertise, we are poised to light the path for energy companies wherever they are on their energy transition journey. I couldn’t be more excited of what lies ahead for our employees and our customers.”
ESG provides the complete software platform for energy customers, enabling critical solutions in market and asset management in North America and the UK.
ESG combines a SaaS architecture, flexible integration and constant innovation with sector expertise and decades of experience to provide the most adopted software platform in global energy retail markets.
The company serves over 300 blue chip energy players and over 40 million end users worldwide.
Together, ESG and Pandell serve companies throughout the energy value chain, driving operational efficiency and growth opportunities for their customers as well as actionable insights and capabilities to their customers’ customers – the energy consumers.
A total of 10 million smart meters in the UK are now connected to ESG’s software. The company manages over 40 million meters globally.
Hirst was working for Bglobal plc when he did an MBO in 2014 backed by NorthEdge and became the CEO of the newly-formed Utiligroup.
NorthEdge invested £16m in the Chorley-based energy tech firm and three years later the company was bought by US private equity Accel-KKR after beating off interest from around 60 potential investors.
Utiligroup rebranded as ESG with Hirst appointed CEO of the global company.