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Veolia North America Acquires Boston-Based Meter-Reading Company

18 Nov 2020

Representing a growth strategy focused on clean energy, Veolia North America, through its energy subsidiary, SourceOne Inc., has acquired Energenix, a Boston-based utility meter reading and billing service that provides services throughout Eastern Massachusetts.

The acquisition makes Veolia North America the leading provider of meter reading and billing services in the Northeast, with a portfolio of over 700 buildings and 200 customers. The offering represents a key component of the company’s growth strategy to provide advanced energy management technologies and programs to building owners, facilities managers and energy consumers throughout the region.

Energenix was created in 1994 by Guy Machnes, a former electrician who identified the need for efficient meter-reading services and steadily expanded the business over the past 26 years. Machnes recognized that in SourceOne he had found an experienced partner with the capabilities to offer technological advances and added services that will enhance the Energenix customer’s experience. SourceOne’s expertise in engineering services, design, implementation and maintenance of metering systems for a variety of utilities adds intrinsic value to the offering.

“We are excited to welcome Energenix into the SourceOne family,” said Matt Madeksza, Veolia North America President and CEO. “With this acquisition, we are strengthening our position as a trusted provider of energy services where innovation and vision lead to greater efficiency and sustainability.”

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