Progress Partners

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Progress Partners is a boutique investment firm based in Boston and New York City providing financial advisory services to companies in media, marketing, advertising, and software.

Prenova Acquires Cyrus Technologies

Prenova Acquires Cyrus Technologies Building assets, controls technology, and communications protocols often vary from one location to the next. Cyrus has the experience and expertise required to integrate these disparate systems.

*Progress Partners served as sell side advisor to Cyrus Technologies

Prenova, Inc., a privately held energy services provider managing over $2 billion in energy spend for dozens of national brands, today announced the acquisition of Cyrus Technologies, Inc., an independent systems integrator specializing in the design and implementation of large scale, multi-facility energy management and building controls systems.

"Building owners and managers are constantly searching for ways to improve energy efficiency, but implementing an effective energy management strategy across multiple facilities can be a challenge," said Michael J. Nark, Prenova's President and Chief Executive Officer. "The combination of building assets, controls technology, and communications protocols often varies from one location to the next. Cyrus has the experience and expertise required to integrate these disparate systems. Their services and software are a great complement to Prenova's other energy management solutions and allow us to deliver even more value to our customers."

Cyrus Technologies provides energy management and building controls systems and services, including engineering, installation, commissioning, project management, and system maintenance. The company has a successful track record of integrating and supporting building management technologies from multiple vendors and with different protocols, giving customers the visibility and control they need to make their facilities smarter, safer, and more energy efficient. Cyrus's areas of expertise include variable- volume air and water systems, temperature and humidity control in complex air handling systems, and developing efficient strategies for central plant operations. The company has also developed an award winning enterprise energy management solution that replaces the operational functionality of traditional on-site building controls front-ends.

This Internet-based application, coupled with Cyrus's other services and capabilities, enables Prenova to both extend its offerings to current customers and expand into new vertical markets. Headquartered in Sunrise, Florida, Cyrus works with customers throughout the Southeast, including organizations in the Education, Government, and Commercial Real Estate industries. The company also develops and markets Internet-based enterprise energy management solutions delivered via a Software as a Service (SaaS) model.

About Prenova

Prenova helps companies control energy spend by reducing utility costs and improving energy efficiency. We work hand-in-hand with our customers to develop an energy strategy that fits their unique business needs. Then we help them implement this strategy consistently across the organization by providing services that span the entire energy lifecycle. From sourcing energy to controlling energy consumption, Prenova's solutions can reduce energy spend by 10-20%. That's why companies like Burger King, Costco, Dollar Tree, Foot Locker, and The Home Depot turn to Prenova.

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