Summit Acquires Kimball Resources

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Move Considered Great Cultural, Strategic and Service Fit by Both Companies

In a major move announced today, Summit Energy Services, Inc., a leading privately-held energy management firm, has acquired Kimball Resources of Houston, Texas, one of North America’s largest independent energy management solutions companies, for an undisclosed sum. The addition of Kimball Resources to Summit Energy’s business operations takes Summit near the $20 billion mark in energy spend under management, and creates an energy management resource with virtually unmatched leverage in critical global markets.

The purchase of Kimball Resources is the fifth corporate acquisition by Summit Energy in the last two years. Kimball, a leading industry player, is a full-service management firm operating from offices in Houston, Texas; Portage, Michigan; Camas, Washington; and Philadelphia, Pennsylvania. The firm manages approximately $5 billion in energy spend and is active in all U.S. markets as well as Canada, Mexico and Puerto Rico.

“From the first conversation, it was clear that Summit and Kimball would be a great fit,” noted Steve Wilhite, President and CEO of Summit Energy Services. “Our passion for serving our customers is the same, and we have compatible business philosophies. We at Summit are very excited by this event not only because it brings together two solid and respected companies, but also because it is a major step toward establishing our combined firms as a dominant global player in the evolving energy management sector.”

“The partnership of our two companies lines up strategically, culturally and operationally,” said Jim Vonderhaar, President of Kimball Resources. “Size definitely plays a role in our field, and we’re pleased that the business relationships, industry knowledge, and geographic reach Kimball has developed over the past 25 years will be wisely leveraged through this important transaction.”

Summit’s new acquisition will be known as “Kimball Resources, a Summit Energy company” for the immediate future. Kimball’s four offices are expected to remain as a result of the purchase. Kimball Resources, a privately-held company, originated in 1952 as an energy exploration and production business and transitioned into energy management in 1983. Kimball’s clients include many large natural gas users in many different industries including automotive, steel, pulp and paper, rubber and furniture.

Summit Energy, founded in 1991, operates as an independent and unbiased provider of energy management services for business and industry. The company provides procurement of natural gas, electricity and alternative fuels for customers in dozens of industries ranging from aerospace and automotive to government, chemical, food manufacturing, pharmaceuticals, healthcare and others.

“Businesses here in the U.S. and around the world are struggling with issues of complexity, volatility and sustainability in their energy decision-making,” Wilhite said. “As a growing energy consultancy, we now manage the energy needs of thousands of commercial and industrial sites around the globe. This reach gives us exceptional, worldwide command of energy data. We also offer the complete data transparency our clients need to make the best possible purchase decisions.”

Summit’s recent growth is the result of a diversified strategy of securing new clients, business development from existing clients and strategic acquisitions. The company counts Eaton Corporation, Rexam Beverage, Owens-Corning, Bridgestone, Delphi and Outback Steakhouse among its many clients.

About Summit Energy
Summit Energy is a pioneering provider of energy management services for business and industry. Summit manages more than $19 billion annually for thousands of facilities in industries ranging from aerospace and automotive to government, chemical, food manufacturing, pharmaceuticals, healthcare and others. Its growing staff of more than 300 energy professionals is headquartered in Louisville, Kentucky. Summit has additional offices in the U.S. as well as in Belgium, France, Germany, Mexico and The Netherlands. Summit serves clients with sites all over the globe.

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