PowerSecure (Nasdaq: POWR) is expanding its holdings in a mix of deals that have cost the firm $4.3 million in cash and stock.
The Wake Forest-based power technology firm said early Thursday that it had acquired Powerline EHV & Safety Training, a provider of safety instruction for utility firms.
PowerSecure also acquired the remaining 10 percent ownership of a solar business from Southern Energy Management and the remaining 33 percent of the LED business IES it did not already own.
The deals cost $1.3 million in cash and $3 million in stock.
“These transactions reflect our growing confidence in our solar and LED businesses and allow us to capture full value for our success, while our continued investments in the safety and training of our utility infrastructure teams reflect our commitment to serving our utility partners with the safest and most productive crews in the industry,” said Sidney Hinton, chief executive officer of PowerSecure, in a statement.
“Given the momentum we are seeing, we anticipate the cumulative impact of these acquisitions will be modestly accretive to 2013 earnings,” he added.
