Fluid Market Strategies acquired by CleaResult
By Christina Williams
Editor, Sustainable Business Oregon
Fluid Market Strategies is now part of CleaResult of Austin, Texas.
Fluid Market Strategies announced Wednesday that it was acquired last week by CleaResult of Austin, Texas.
Portland-based Fluid, which provides energy efficiency and related marketing services, will continue to operate under the Fluid Market Strategies name as a division of CleaResult.
Terms of the transaction were not disclosed.
Fluid, which has 61 employees in offices in Portland and Seattle, had $10 million in revenue last year and has seen 40 percent year over year growth since 2005, said President Brian Simmons.
"We're in a growth industry and the revenue is good," said Simmons who co-owns the company with his wife, Fluid CFO Jennifer Simmons. "This was about us deciding that the potential was much bigger once we're part of a larger organization."
Fluid's strength lies in residential energy efficiency programs in services, while CleaResult is focused more on the industrial and commercial sectors — an area that Simmons said his business was pursuing.
CleaResult, which will have 650 employees with the Fluid acquisition, has offices in 17 cities but none in the Northwest. The company's 2010 revenues were more than $40 million, according to a report on Boston.com. CleaResult was the 144th fastest-growing company last year according to Inc. Magazine.
In February, Massachusetts-based General Catalyst Partners acquired a majority stake in CleaResult with an eye on helping the company expand.
"We want to enable them to go from 15 states to 50 states," General Catalyst's Hemant Taneja told Boston.com.
Fluid Market Strategies is part of Portland's robust energy efficiency ecosystem. Simmons said he doesn't expect that to change. In fact, the company expects to continue to add to its staff in the Northwest at a rate of 40 percent per year.
@SustainableBzOR| firstname.lastname@example.org | 503.219.3438
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.