ACP-backed E Source buys Water Systems Optimization

E Source, which is backed by Align Capital Partners, has acquired Nashville-based Water Systems Optimization, a provider of water loss reduction analytics, leak simulation models, consulting and program management services to utilities and municipalities throughout the U.S.

E Source, which is backed by Align Capital Partners, has acquired Nashville-based Water Systems Optimization, a provider of water loss reduction analytics, leak simulation models, consulting and program management services to utilities and municipalities throughout the U.S. No financial terms were disclosed.

PRESS RELEASE

CLEVELAND and DALLAS, November 2, 2021 – Align Capital Partners (“ACP”) announced today the closing of its sixth strategic add-on for its utility market intelligence, data science and consulting platform, E Source (the “Company”). Water Systems Optimization (“WSO”) offers water loss reduction analytics, leak simulation models, consulting and program management services to utilities and municipalities throughout the United States.

Headquartered in Nashville, TN, WSO partners with national, state and local water agencies to reduce water loss and optimize much needed investments. The WSO team is comprised of experts in water loss research, analysis, strategy, related field work and capital investments to address losses. WSO will become part of E Source’s Technology Planning and Implementation business unit which currently focuses on the areas of advanced metering infrastructure, smart grid/water and smart city initiatives.

“WSO’s proven expertise in water-loss analytics and consulting allows us to expand our water market offerings,” said E Source CEO Ted Schultz. “This is a critical time to be focusing on water conservation. Our mission is to build a sustainable future in partnership with utilities and cities. A crucial part of that is ensuring that we’re optimizing our water resources. We’re proud to welcome WSO to the E Source family.”

In October 2015, the California State Senate passed a bill requiring all retail urban water suppliers to report annually on distribution efficiency. Since that time, WSO has completed more than 500 water audit validations in California, along with validations in Georgia and Hawaii.

“There is a tremendous opportunity for innovation and cost savings for water utilities,” said Reinhard Sturm, CEO of WSO. “With the combination of our talented teams, data and domain expertise, we are now uniquely positioned to offer necessary and sophisticated analytics and services to this market. This is an exciting time, and we are thrilled to be part of the E Source team.”

“Water has quickly become one of our scarcest resources. With the acquisition of WSO, E Source is better able to be part of a sustainable solution,” said Rob Langley, Align Capital Partners Managing Partner and Co-Founder. “The WSO team brings a high level of sophistication to their work in guiding clients to decrease water loss while optimizing capital investments to safely reduce losses over time. Combining these skills and expertise with an already mature set of services for the water market is going to make a big impact.”

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 reliably, efficiently, safely and sustainably. Operating Partner Dave Perotti, Principal Matt Iodice and Associate Scott Robbins worked alongside Mr. Langley on the transaction.

About E Source
For over 35 years, E Source has been providing market research, data science and consulting services to more than 500 utilities, municipalities and their partners. This guidance helps their clients advance their energy solutions and enhance customer relationships, while becoming more innovative and responsive in the rapidly evolving market. For more information, visit esource.com.