M&A  November 29, 2023

E Source continues acquisition spree, absorbs UMS Group consultancy 

BOULDER — E Source Cos. LLC, a data-science company that serves the utility industry, has acquired utility consulting firm UMS Group Inc.

“By bringing UMS Group into E Source, we’re reaffirming our commitment to delivering the most comprehensive solutions to utilities,” E Source CEO Dave Perotti said in a prepared statement. “This acquisition amplifies our ability to empower utilities in a rapidly changing energy landscape, particularly in the face of pressing challenges like climate change, renewable energy adoption, and asset management.”

Terms of the deal were not disclosed.

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E Source, which was itself acquired by Align Capital Partners in 2019, bought management-consulting firm Utilligent in September. The company has absorbed nearly a dozen other firms since 2020. 

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