PRESS RELEASE
Charlotte, NC & Dallas, TX (March 18, 2024) – Crete United, a leading provider of energy efficiency and HVAC, electrical, and other mechanical (“MEP”) services, today announced its partnership with ProStar Energy Solutions (“ProStar”). The partnership creates a powerful and effective new connected delivery model integrating Crete United’s core HVAC, electrical and other mechanical services with ProStar’s data-backed, energy management-as-a-service for the built environment.
Driven by a focused M&A strategy and a strong organic growth engine, Crete United generated approximately 40% revenue growth in 2023. In early 2024, the company rebranded from Crete Mechanical Group to Crete United, signaling the commitment of its more than 40 partner companies nationwide to improve the health of the built environment together. The ProStar partnership, with a range of offerings including HVAC optimization, patented IoT- and AI-powered controls and monitoring, energy procurement, and more, is Crete United’s latest like-minded collaboration, an important step towards its near-term revenue target of $1 billion.
“We couldn’t be more excited to begin this partnership with ProStar, which shares our mission to make the places we live, work and play healthier,” said Crete United CEO Mike Cox. “ProStar’s energy efficiency services accelerate the Crete United platform by creating a unique set of offerings for our customers.”
ProStar serves as a strategic advisor to organizations of all sizes and sectors across the nation, offering data-backed energy efficiency solutions that, on average, lead to a 30% base load reduction. The Company currently serves many of the largest US data centers, a very energy-intensive building type. Its eIQ building automation solutions, a web-based tool used to remotely monitor comfort and performance, and multi-patented Catalyst, a complete rooftop unit (RTU) retrofit solution for HVAC systems, help building owners and facilities managers make informed decisions about their energy use, save money and make strides toward their sustainability goals.
“The opportunity for businesses across the country to enhance their building operations through energy efficiency has never been greater,” said Eric Sudol, President of Energy Efficiency at Crete United and CEO of ProStar Energy Solutions. “Partnering with Crete United, a fast-growing company with established relationships and deep MEP expertise, is an amazing opportunity that will enable us to bring efficient energy management solutions to the built environment.”
Crete United will establish a regional office at ProStar’s office location in Frisco, Texas. Charlotte-based Ridgemont Equity Partners, which provided growth capital to the company in 2022 alongside the founders and management, will continue to support Crete United’s strategic growth initiatives.
About Crete UnitedCrete United is a nationwide multi-service building solutions provider with a vast network of local partners who are united in improving the communities they serve and the built environments within. Through its partners, the company provides a host of energy efficiency-focused building services across non-residential HVAC, electrical, plumbing, building automation, controls, and other sustainable energy solutions. Crete United provides the resources and reach of a large organization while allowing its partners to maintain the freedom to continue operating their successful businesses.
About ProStar Energy SolutionsProStar Energy Solutions, a Crete United company, is dedicated to helping businesses save money by providing the best turnkey energy-efficient and renewable energy solutions available. ProStar’s portfolio of solutions includes LED lighting, patented advanced controls and monitoring, solar, HVAC, mechanical systems, utility bill auditing and energy procurement services. ProStar is headquartered at The Star in Frisco, Texas, and was founded by Jerry Jones, owner of the Dallas Cowboys. www.prostarenergy.com
About Ridgemont Equity PartnersRidgemont Equity Partners is a Charlotte-based middle market private equity firm that has provided buyout and growth capital to industry-leading companies in the business and tech-enabled services, industrial growth, and healthcare sectors for three decades. The principals of Ridgemont have refined a proven, industry-focused model designed to build distinctive middle market companies. ridgemontep.com
Ethan Harris | FleishmanHillard | [email protected]