Generational Equity Advises Energy & Resource Solutions in its Sale to DNV GL

By Generational Equity


Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Energy & Resource Solutions, Inc., to DNV GL. The acquisition closed December 30, 2020.

Energy & Resource Solutions (ERS), located in North Andover, Massachusetts, is an engineering consultancy which helps organizations to manage and reduce energy costs through program design, outreach, implementation, and evaluation services. 

The growing need to transform energy markets across all sectors and decarbonize energy supply make this acquisition both timely and crucial. The combination of the two companies’ expertise and services creates a unified team that will partner with global customers to address and accelerate the energy transition.

ERS works with utilities, governments, and large commercial and industrial end-users to solve complex energy and resource problems. The firm also has operations in California, Connecticut, Maine, New York, Oregon, and Texas.

Headquartered in Høvik, Norway, DNV GL is a global energy adviser, assurance and risk management specialist, operational in over 100 countries, supporting a range of sectors to decarbonize faster.

“The core goal of ERS has been to promote a healthy, sustainable environment, and joining with DNV GL will add to our abilities to enable our customers to achieve their energy and environmental goals,” said Gary Epstein, President and Founder of ERS. “We could not have a better partner in DNV GL when it comes to our shared commitment to sustainability, managing energy use and mitigating environmental impacts.”

Richard Barnes, Region President, Energy North America at DNV GL – Energy said: “Helping all energy users, whether they are large industries or individuals, change how and how much energy they use is one of the fastest, lowest-investment approaches to reducing carbon emissions, and we need to ensure that the rates of adoption speed up, especially in areas such as manufacturing and building design.”

Barnes added, “The values, ambitions, and dedication to accelerating the energy transition that we share made the decision to join with ERS simple and clear. Our leadership teams both saw where we complement each other, where we each bring in new abilities and services, and see many opportunities to provide our customers with expanded expertise and insights.”

Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team led by Senior Vice President, Mergers & Acquisitions, Ahmad Behjati, with the support of  Vice President, Mergers & Acquisitions, Tristan Keefe, successfully closed the deal.  Senior Managing Director Ashok Tandon established the initial relationship with ERS.

“At Generational Equity, we have the utmost respect for our environment and the legacy that we will leave behind for the next generations. We immediately realized this merger would be a great win for the environment and renewable energy, as well as provide a path for the excellent work of Energy & Resource Solutions and their staff to continue into the future. This merger is a win-win situation for Energy & Resource Solutions and DNV-GL,” said Behjati.

About Generational

Headquartered in Dallas, Generational is one of the leading M&A advisory firms in North America.

With more than 350 professionals located throughout 17 offices in North America, the companies help business owners release the wealth of their business by providing growth consulting, merger, acquisition, and wealth management services. Their six-step approach features strategic and tactical growth consulting, exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.

The M&A Advisor named the company Investment Banking Firm of the Year three years in a row, Valuation Firm of the Year in 2020, and North American Investment Bank of the Year in 2022 as well as Consulting Firm of the Year. For more information, visit