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Legence, an energy transition accelerator owned by Blackstone, has acquired LORD Green Strategies, a sustainability consultancy specializing in commercial real estate, with ambitions to merge it with its current CRE sustainability advisory portfolio firm, RE Tech Advisors.
According to Legence, the merger will establish "one of North America's largest ESG consultancies."
Legence CEO Jeff Sprau commented,
"As Legence continues to construct the first Energy Transition Accelerator TM organization, we are pleased to welcome this industry-leading enterprise into our expanding legion of businesses. The LORD Green team was hand-picked based on their experience and culture, as well as their alignment with our mission to offer energy efficiency and decarbonization to the built environment.
LORD Green, established in Dallas, Texas, provides sustainability plans, practices, measures, and objectives for commercial real estate clients' portfolios, including office, multifamily, industrial, retail, and hospitality properties. Additionally, the company offers sustainability reporting services, green building certification examinations, and third-party certification rating system consultation.
RE Tech provides a vast array of ESG consulting services, spanning from climate strategies to reporting and compliance, with customized solutions for clients' ESG initiatives including strategic engineering, data management, carbon, and marketing. The company has assisted over 100 commercial real estate clients in reducing energy-related costs by more than $300 million.
The combined clientele of the companies consists of Invesco, UBS, MetLife Investment Management, Principal Real Estate, and the United States. Ministry of Energy.
President and Founder of LGS, Mychele Lord, stated:
"LORD Green Strategies was founded on the conviction that we might have a genuine impact on the sustainability of commercial real estate. By joining forces with RE Tech Advisors, a reputable company and fellow pioneer in the ESG sector, our clients and staff will be able to expedite their positive effect on the future environment. With this shift, we will provide unrivalled expertise in all aspects of the built environment to assist a broad spectrum of businesses in reaching their decarbonization objectives."