As part of the transaction, TNAI has acquired the Trigen name and service marks. TNAI, now using the Trigen name, will continue as a leading energy company supplying electricity, steam and chilled water to offices, government buildings, hospitals, universities, and public housing complexes.
The facilities were formerly owned by an indirect subsidiary of SUEZ Energy North America, Inc. (formerly named Tractebel North America, Inc.), a business unit of SUEZ Energy International, one of the business divisions of SUEZ (NYSE: SZE). SUEZ Energy North America will continue to use the Trigen name and service marks in connection with the existing Trigen non-DHCS facilities that were not included in the transaction during the term of a licensing agreement with TNAI.
According to Lance Ahearn, Chief Executive Officer of the Trigen District Heating and Cooling Businesses, the company has already begun implementing changes that will improve and expand its services. "Our objective is to bring reliable, cost-effective and environmentally-sound energy solutions to our customers and the communities in which we work and live," said Ahearn.
"We recognize that many of our customers operate in critical environments where efficient heating and cooling is essential to their business," said Ahearn. "Our knowledge of the district energy industry, combined with the expertise of the employees who operate the Trigen facilities ensures these plants will continue to be in very good hands."
District heating and cooling helps reduce fossil fuel consumption by facilitating productive use of waste heat from industrial processes, electricity generation, waste incineration or renewable energy sources. District heating and cooling uses these energy sources for heating and cooling over a local area, with the thermal energy being transported through a dedicated pipeline system. It provides an effective system for improving efficient energy use and reducing adverse environmental impacts of energy supply and use.
Based in Boston, TNAI is a privately-held company focused on investments in district heating and cooling systems.
Trigen will partner with Johnson Controls, Inc (JCI) to reliably operate and maintain all Trigen district heating and cooling system facilities. Johnson Controls is a global leader in energy and facility management and controls, headquartered in Milwaukee, Wisconsin.
The Trigen DHCS assets that were purchased represent a total capacity of 10.0 million pounds per hour of steam, 72,800 tons of chilled water and 238 MW of electricity generation.
Banc of America Securities LLC acted as sole financial advisor to SUEZ Energy North America, Inc., in connection with the sale. Lehman Brothers Inc. provided financing to TNAI in connection with the acquisition of the Trigen DHCS facilities. For further information about SUEZ Energy North America, go to www.suezenergyna.com.
About Thermal North America, Inc. ("TNAI/Thermal") - Based in Boston, Thermal is a private venture focused on investments in district heating and cooling systems and related investments. Thermal is attracted to the industry for its strong, sustainable cash flows, diversified, long-term customer contracts and capital-intensive infrastructure.
About Johnson Controls - Johnson Controls, Inc., is a global market leader in facility management and control. For non-residential facilities, Johnson Controls provides control systems and services including comfort, energy and security management. Johnson Controls (NYSE: JCI), founded in 1885, has headquarters in Milwaukee, Wisconsin. Its sales for 2004 totaled $26.6 billion. For more information on Johnson Controls, Inc., visit the company's web site at.www.johnsoncontrols.com.