GenServe, Inc. Announces Acquisition of Alternate Power, Inc.
June 9, 2016
GenServe Inc. of Plainview, New York, recently acquired Alternate Power, Inc. of Middlesex, New Jersey. The acquisition allows GenServe to increase its presence in their market and provide enhanced services to Alternate Power's more than 200 existing customers. Alternate Power's longstanding customer base, which is comprised largely of Health Care Facilities, will benefit significantly from GenServe's extensive array of back-up power services.
Established in 1997 by James and Sandra Creighton, Alternate Power is a leading regional commercial generator service in the Metro New York area. James Creighton reported being surprised by the proposal but added that the opportunity was timed perfectly for his company and his family. "Before being approached by GenServe, we weren't even considering a sale of the company," he said. "However, they offered us a very attractive deal, and we are now able to retire while still knowing that the customers and key employees will be well taken care of. We very much appreciated their straightforward and direct approach to the deal process."
Bob Fortunato, Chairman and CEO of GenServe, remarked that Alternate Power's well-respected position in their market was the impetus for selecting the company as GenServe's first acquitision. "The Creightons have built a great company with an outstanding reputation," Mr. Fortunato said. "We look forward to maintaining their legacy of excellent customer service, as well as further solidifying our position as the largest player servicing the greater New York area." He added that additional acquisitions are definitely in GenServe's future. "Over the past few years we have made considerable investments in systems and people that will enable us to efficiently monitor and integrate acquisitions. We will continue to selectively seek other add-on acquisitions to accelerate our growth."
GenServe is the leader in the sale, maintenance and repair of industrial generators and backup power solutions in its service area, which includes all of New Jersey, Long Island, Westchester and Rockland Counties, and the Metro New York Area; Eastern Pennsylvania; Southwest Connecticut; Northern Delaware; and Northeastern Maryland. With the largest team of EGSA (Electrical Generating Systems Association) certified technicians in their service area, GenServe is a one-stop shop provider of comprehensive emergency power supply system solutions that protect companies against the high cost of power failure.