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8 August 2012 | Kamalpreet Badasha
Procurement outsourcing business Procurian has acquired US energy purchasing management firm Utilities Analyses.
Procurian Energy will consist of 30 energy specialists who will manage $3 billion (£1.92 billion) of energy spend for more than 60 clients. The size of the deal was not disclosed.
"The cost of energy will continue to rise and is often cited as a top three operating expense within companies - yet this spend is often undermanaged due to complexity and fragmentation across the organization,” said Carl Guarino, chief executive officer of Procurian in a statement.
Chad Gottesman, head of Procurian Energy and chief sustainability officer said: "If we can reduce energy usage by even a small percentage, we can then apply our tariff benchmarks and expertise to drive even lower rates so clients save through lower consumption and lower unit costs. Then we continue to actively monitor and manage demand over time to ensure that usage does not trend back upwards and erode savings."
In February, Procurian reported pre-tax profits of $22.2 million (£14.1 million) in 2011.