October 23, 2008
Fellon-McCord Initiates Power Supply Dispatching Via Acquisition of DaCott Power &Amp; Transmission Solutions LLC
Energy consulting and management company Fellon-McCord & Associates today announced the acquisition of the assets of DaCott Power & Transmission Solutions LLC (DP&T) from DaCott Energy Services Ltd. of Houston, TX. The acquisition gives Fellon-McCord a valuable new slate of power supply consulting services including a 24/7 power dispatch capability benefiting municipalities and energy cooperatives.
As part of the purchase agreement, Patrick W. Frazier, former vice president, energy operations for DP&T, will join Fellon-McCord as director of Fellon-McCord's newly-formed Power Supply Group. Fellon-McCord's new group will operate from its Louisville headquarters as part of the company's Electric Power Consulting and Management Services division.The addition of DP&T furthers Fellon-McCord's stated strategy of organic growth combined with opportunistic acquisition. Since the founders purchased the privately-held company back from Constellation Energy, Fellon-McCord has continued to expand its energy consulting and management business. Amid a period of international and industry economic struggles that have adversely impacted many energy consulting firms, Fellon-McCord has logged a year-to-date sales increase for 2008 over the same period in 2007.
"The DP&T acquisition provides Fellon-McCord with additional clients as well as servicing expertise that supports our growth plans for the business. We are pleased with the growth we have seen in our business and look forward to working with DP&T's clients," said Drew Fellon, president and CEO of Fellon-McCord. "This purchase also allows Fellon-McCord to expand its consulting and management services to include power dispatching through a 24 hour per day, 7 day per week power desk."
Created in 2006, DP&T offered a range of power supply and consulting services that included risk management, portfolio design, purchasing/selling and economic optimization. Through its acquisition by Fellon-McCord, the former DaCott Energy Services subsidiary is gaining the necessary resources to develop a comprehensive power supply dispatch function. This new service will optimize client assets in all time segments (i.e. hourly, balance of day, next day, balance of week, next week, balance of month, etc.).
"The merger of DP&T into Fellon-McCord's operations and client base is an absolute win for both businesses," said Frazier. "As part of Fellon-McCord, we can exponentially grow both our power consulting and power dispatching for the benefit of our combined client bases."
Fellon-McCord is an energy consulting and management company working with its clients' energy procurement and facility engineering personnel to source the most economic and reliable energy supplies available. A pioneer in energy consulting and management since 1992, Fellon-McCord focuses on the physical, financial, regulatory, and legislative components of the global energy markets. Fellon-McCord's clients include leading automotive, building materials, chemical, food processing, aluminum and steel, municipal, and institutional consumers. To learn more, log on to www.fellonmccord.com.
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