Image credit: Think Power Solutions
In the latest round of mergers and acquisitions news in the energy and technology space, Texas-based Lamar Technical Services Inc. (LTSI), which specializes in GIS data collection, construction staking and layout, easement research, and other services, was recently acquired by Think Power Solutions, another Texas-based company that provides tech-enabled utility infrastructure management solutions.
According to a company statement shared with The Sociable, the acquisition will expand Think Power Solutions’ portfolio with complementary services, continuing both companies’ commitment to driving innovation, enhancing customer support, and maintaining service excellence.
“We’re thrilled to embark on this new chapter with a partner who shares our vision for transforming energy and utility space. We are honored to join forces with LTSI,” said Hari Vasudevan, Founder & CEO of Think Power Solutions.
He added, “We will leverage this partnership to propel Think Power Solutions’ innovation and shape the future of utility and infrastructure excellence. As part of our growth strategy, we’ll continue to seek expansion through M&As, focusing on infrastructure-led businesses.”
The company has served electric utility customers across Texas, the Southeast, and the Midwest for more than a decade.
According to the company, Think Power Solutions has been consistently rated as a Great Place to Work, with over 90% employee satisfaction. Additionally, Fortune magazine has recognized Think Power Solutions as one of the 48 Best Workplaces in Texas among small and medium-sized businesses for the last two years.
LTSI’s leader also praised the acquisition and track record of its acquiring company. “Think Power Solutions’ employee-centric culture was a major factor in our decision to partner with them. We’re excited to build on their impressive achievements and drive further growth in the energy and utility sector,” said Larry J. Krenek, Founder, Lamar Technical Services Inc.
With over 25 years of experience, LTSI has been recognized as a leader in the Texas utility sector, consistently exceeding client expectations. Based in Cedar Park and Conroe, Texas, LTSI specializes in GIS data collection, construction staking and layout, easement research, and other services.
Texas leads the United States in energy production, including accounting for 13% of the country’s electricity production in 2023.
Disclosure: This article mentions a client of an Espacio portfolio company.
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