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Strategic Combination of Two Highly Complementary Businesses Creates Market-Leading Energy Solutions Provider for Customers Throughout the U.S.
Minneapolis, MN – SitelogIQ, Inc. (“SitelogIQ”), a leading energy services and facility improvement solutions provider to the public sector and commercial and industrial end markets, today announced the acquisition of Path Company (“Path”), a NAESCO accredited energy services company serving the municipal and higher education markets in the Southeastern U.S. The financial terms of the transaction were not disclosed.
Established in 2017 by Russ Phillips and Nathan Wells, Path has quickly grown into a leading provider of energy services with a reputation for high-quality offerings and exceptional customer service. Path serves state and local governments, K-12 schools, and higher education institutions, executing energy savings projects across energy management control systems, building and street lighting, water efficiency, HVAC, and renewable power. Path was approved by the U.S. Department of Energy as an Energy Services Company (“ESCO”) in 2021 and accredited by NAESCO in 2022.
This strategic acquisition combines two best-in-class businesses with complementary service offerings to create a leading provider of energy services solutions across public and private end markets. With the addition of Path, SitelogIQ expands its market reach – serving public sector customers in six additional southeastern states – and is positioned to provide a broader range of service offerings to new and existing customers, including streetlighting LED conversions. Path’s co-founders and experienced management team will continue to lead the business day-to-day.
“We are excited to welcome Russ, Nathan, and the entire Path team to SitelogIQ,” said Kelly Schuller, SitelogIQ Chief Executive Officer. “The addition of Path significantly expands our deep bench of talent, highly specialized building and infrastructure improvement service offerings, and network of customers. With this strategic combination, we’re confident SitelogIQ is poised to deliver even greater value to existing and new customers across the U.S., while continuing to thoughtfully expand our footprint.”
“We are thrilled to join forces with the SitelogIQ team, who shares our values and commitment to customer service and providing unparalleled energy savings offerings,” said Russ Phillips, Co-Founder of Path. Path Co-Founder Nathan Wells added, “This partnership is all about taking care of our people and delivering greater value for our customers. As part of SitelogIQ, we will have the expanded resources and support to invest more deeply in our team and capabilities, and we look forward to continuing to grow our business.”