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Ameresco plans $125 million IPO

Associated Press / April 2, 2010

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NEW YORK — Ameresco Inc. is planning an initial public offering of up to $125 million.

The Framingham, Mass., company designs and installs measures that are meant to cut energy and maintenance costs for its customers, primarily federal, state, and local governments in North America. It also builds small renewable energy plants for clients.

Ameresco said it served more than 1,000 customers in 2009.

The company said late Wednesday in a filing with the Securities and Exchange Commission that it plans to use proceeds from the IPO to pay debt, and for working capital.

Ameresco has posted a yearly profit since 2002. It earned $19.9 million in 2009, up from $18.3 million in 2008. Revenue grew to $428.5 million from $395.9 million. Ameresco did not say how many shares it plans to sell.