ACP-Backed E Source Acquires Energy Equity Powerhouse DEFG

CLEVELAND and DALLAS, July 14, 2022 – Align Capital Partners (“ACP”) announced today the closing of its ninth strategic add-on for its utility market intelligence, data science and solution services platform, E Source (the “Company”). Distributed Energy Financial Group (“DEFG”) is a utility customer research and advisory firm with expertise in low income, equity and customer experience.

DEFG’s five collaborative groups serve over 50 of the largest utilities in the US and Canada, giving the leaders of these companies access to insights to better serve their customers and meet organizational goals. With this acquisition, E Source can now help utilities improve customer experience and manage affordability for all customers, including those that are most vulnerable and those investing in beyond-the-meter products and solutions.

“Our mission is to build a sustainable future in partnership with utilities. One of the critical components of a sustainable utility is equity,” says Ted Schultz, CEO of E Source. “Although we’ve been helping utilities with energy equity for several years, bringing in DEFG’s expertise positions E Source as the energy equity leader for utilities. DEFG’s work in pre-pay, low- and moderate-income customer service and customer experience has set the standard in our industry.”

Since 2003, DEFG has been developing robust customer engagement strategies to improve program offerings. DEFG provides guidance on marketing, communications, customer service, operational efficiencies and regulatory policies.

“Utilities have an obligation to provide safe, affordable, reliable energy to all. We believe the time has come to expand the traditional compact in the utility sector to include clean, reliable energy and new perspectives on equity,” says Jamie Wimberly, CEO of DEFG. “In addition, there is a growing class of customers who are investing in electric vehicles, renewable energy and a range of other beyond-the-meter products and services. These customers will also require a new customer service model. By combining forces with E Source, we multiply our efforts to serve all types of communities and improve customer experience and customer care.”

ACP acquired E Source in June of 2019 and will continue to invest in strategic add-ons to broaden the Company’s offering of tech-enabled, customer-first solutions to help utilities effectively manage the customer and infrastructure sides of their business. Managing Partner Rob Langley, Operating Partner Dave Perotti, Principal Matt Iodice and Associate Scott Robbins worked alongside management on the transaction.