Enercare Connections Inc., has acquired Ottawa-based Triacta Power Technologies, which designs and manufactures advanced, utility-grade energy management meters.
Triacta will remain headquartered at Carlton Place and not undergo any lay-offs as a result of the $7.5 million sale.
Triacta currently holds a 40 per cent share in the Ontario sub-metering market and has technology deployed across the U.S. including New York, Washington DC, California, Texas and Colorado.
With a large installed base of Triacta meters, Enercare, a leader in the sub-metering market, will continue to use Triacta’s products that include a range of hardware and software that combines meter management, automated data collection, powerful analysis tools and flexible billing capabilities.
“This acquisition supports our strategic objectives, which includes shaping the future of the sub-metering industry and increasing our presence in markets outside of Canada,” said Ross Garland, senior vice-president and general manager of sub-metering at Enercare. “Most importantly though, it underscores our lasting investment in the future of sub-metering that will result in operational savings and impactful new products and services that bring value to our clients.”
Wes Biggs, president and chief executive officer of Triacta, said his company is passionate to bring technological innovations to the sub-metering market.
“Combining our knowledge and expertise in sub-metering with Enercare’s financial backing means we will be in a position to bring more versatile, flexible, and scalable products to our client base,” said Biggs.