Energy Systems Group acquires New Mexico company
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Energy Systems Group, a sustainable infrastructure and energy solutions company based in Newburgh, announced on Monday the acquisition of Yearout Energy Services. The acquisition comes only months after Energy Service Group’s merger with California-based PacificWest Energy Solutions in April.
Financial details of the deal are not being disclosed.
Yearout Energy Services, based in New Mexico, is a design-build construction company that focuses on providing sustainable energy solutions to markets in the Southwest, with clients in both the private and public sectors.
According to a news release from Energy Systems Group, the acquisition aims to expand the reach of the company, which now has over 400 employees.
“Through this acquisition,” the company stated, “Energy Systems Group continues its strategic expansion into target markets, enhances its service offering, and diversifies its customer base in key Southwest states, including Texas, Colorado, Arizona, and New Mexico.”
In an email to Inside INdiana Business, a spokesperson for Energy Systems Group stated that no jobs will be negatively affected by the merger. “In fact,” they wrote, “both Energy Systems Group and Yearout expect their business to expand with this strategic partnership, providing new opportunities for all employees.”
According to the release, Yearout Energy Services’ president and leadership team will remain as a part of the leadership at Energy Services Group.