Navigant Consulting acquires Pike Research
Pike Research was founded in 2009 by Clint Wheelock, the firm's president. The company's 15 employees in Boulder will remain in the city, Wheelock said. Pike Research will operate as a unit of Navigant's energy practice and will retain its focus on producing market forecasts and industry analysis, he said.
The deal closed July 1, and the transition is going smoothly, Wheelock said.
"I don't think a lot is going to change," Wheelock said. "The intent is to maintain our research focus." Wheelock will transition to the managing director role with Navigant, and Pike Research will retain its name and brand identity for the near future, he said.
The combination will take advantage of both companies' strengths, Wheelock said.
Pike Research publishes more than 100 reports a year, which are commissioned, purchased individually or provided on a subscription basis. Its focus is on developing clean-tech technologies and market opportunities.
Navigant is a more traditional consulting firm, providing analysis about strategy, operations and planning. According to a release from Navigant, its energy practice provides services to utilities, independent power producers, financial entities, and equipment providers, among others.
The acquisition will help Pike Research expand its expertise, Wheelock said.
"I think this is an opportunity to get a little deeper into traditional energy markets, in addition to emerging clean-tech industries," Wheelock said.
The addition of Pike Research expands the line of services Navigant can provide, according to the release.
"Their smart grid, renewables and clean-tech capabilities augment our current offering and allow us to more comprehensively assist utilities, public agencies, energy-technology companies and other energy-industry clients in evaluating and developing the clean and smart energy technologies and product strategies necessary to succeed in today's dynamic environment," said William Dickenson, the Navigant managing director who leads its energy practice.
Navigant already has a presence in Boulder, having acquired Boulder-based Summit Blue Consulting in January 2010. Navigant's Boulder office has about 45 employees who focus on energy efficiency, Wheelock said.
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