Diversified Communications Acquires Energy Storage North America
March 18, 2020
Even though mergers and acquisitions activity has slowed down significantly as a result of COVID-19, Diversified Communications announced yesterday it had acquired Energy Storage North America (ESNA) from producer ESNA EXPO LLC.
The investment not only grows Diversified Communications’ portfolio of events for the renewable energy industry, but also reinforces its commitment to supporting the new energy economy.
In addition to acquiring three of the leading solar + energy storage industry events from the Intersolar portfolio last year, Diversified Communications also owns and operates a 1.5 Megawatt solar farm in Brunswick, Maine.
"Renewable energy production and energy storage is critical to the world’s transition to a low carbon energy system and we continue to be focused on making investments in that space,” said Oakley Dyer, corporate vice president of strategy and corporate development at Diversified Communications.
Dyer added, “Following the acquisition of Intersolar North America last year and now ESNA, we will be looking for other acquisition opportunities in the near and long-term."
During the past two years, energy storage has accounted for more than 30 percent of the exhibition segments at Intersolar North America. During that same period, the conference program has increased the number of educational sessions available to address growing demand.
“We’re excited to add ESNA as a co-located event with Intersolar North America next year,” said Wes Doane, Intersolar North America event director.
He added, “Their unification reflects the consolidation occurring across the board as the solar, energy storage, and e-mobility industries mature–and improves our competitive advantage in a fast-moving marketplace. ISNA and ESNA attendees will now benefit through access to best-in-class content, an innovative and larger exhibition, and an ever-expanding networking platform.”
Janice Lin, ESNA co-founder and chair, said, “Energy storage is the perfect complement to renewables like solar–and it makes sense to bring together the market makers from both sectors at one convening. We are excited to partner with Diversified Communications for the next stage of ESNA’s growth; their commitment to clean energy and extensive expertise in conference management and education will amplify ESNA’s ability to educate and inspire our stakeholders to advance clean energy market transformation with energy storage.”
Lin also is the founder and CEO of Strategen, a mission-driven professional services company that specializes in impactful market development for a decarbonized grid.
Corporate Solutions of Westport, Connecticut was the exclusive advisor to ESNA EXPO LLC in arranging, structuring and negotiating this transaction.
Energy Storage North America will join Intersolar North America at the Long Beach Convention Center in Long Beach, CA next January 12-14, 2021. Additional information will be released in the weeks to come.
Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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