Grainger, the $6.9 billion broad line distributor of facilities maintenance products, recently announced it signed and closed an all-cash acquisition of Alliance Energy Solutions. Grainger anticipates the transaction should accrete to earnings in 2010 by approximately $0.01 – 0.02 per share. Other terms of the deal were not disclosed.
Alliance Energy Solutions, headquartered in Connecticut, is a multiregion energy service company (ESCO) providing turnkey energy-efficient retrofits, with a focus primarily on lighting. Alliance Energy President Kevin Siebrecht and COOMatt James will continue to lead the operations under the Alliance brand name. Working with Grainger’s U.S. business, Alliance will leverage the scale of Grainger’s sales network to help bring its unique service capabilities to more businesses and institutions. Alliance had sales of $20 million in 2008.
