NRG Yield (NYLD) has agreed to acquire the assets of privately held Energy Systems (ESC), a provider of heating and cooling thermal energy, for $120M in cash.
ESC serves almost 14M square feet of data center, commercial, educational, hospital, cultural and governmental space in Omaha. The average remaining life of customer contracts exceeds 11 years.
The deal will be immediately accretive to the amount of money that NRG will have available to distribute by 8%. (PR)