ConnectM Announces Managed Services Agreement with Service Provider, County Comfort
ConnectM Technology Solutions (NASDAQ: CNTM) has announced a Managed Services Agreement (MSA) with County Comfort Home Solutions, a Westchester County-based energy solutions provider. The agreement is expected to generate $7 million in revenue during 2025.
The partnership includes a non-binding Letter of Intent to acquire County Comfort at a 5X EBITDA multiple, subject to meeting financial milestones. County Comfort will integrate ConnectM's Electrification Flywheel services, including AI-powered Heat Pump and distributed energy products.
County Comfort, recognized as Con Edison's Weatherization Contractor of the Year in Westchester County and a Top 3 NYSERDA Weatherization Contractor, specializes in energy audits, insulation, weatherization, solar and battery systems, and advanced HVAC systems. The collaboration aims to leverage ConnectM's Energy Intelligence Network, vendor management, and enhanced procurement capabilities to drive growth and operational efficiencies for both organizations.
ConnectM Technology Solutions (NASDAQ: CNTM) ha annunciato un Accordo di Servizi Gestionati (MSA) con County Comfort Home Solutions, un fornitore di soluzioni energetiche con sede nella Contea di Westchester. Si prevede che l'accordo generi 7 milioni di dollari di ricavi nel 2025.
La partnership include una Lettera di Intenti non vincolante per acquisire County Comfort a un multiplo di 5X EBITDA, subiecta al raggiungimento di traguardi finanziari. County Comfort integrerà i servizi di Eletrificazione Flywheel di ConnectM, compresi i prodotti a pompa di calore alimentati da AI e i prodotti energetici distribuiti.
County Comfort, riconosciuta come Appaltatore dell'Anno per l'Isolamento da Con Edison nella Contea di Westchester e tra i Top 3 Appaltatori per l'Isolamento NYSERDA, è specializzata in audit energetici, isolamento, isolamento termico, sistemi solari e a batteria e sistemi HVAC avanzati. La collaborazione mira a sfruttare la Rete di Intelligenza Energetica di ConnectM, la gestione dei fornitori e le capacità di approvvigionamento migliorate per promuovere la crescita e l'efficienza operativa di entrambe le organizzazioni.
ConnectM Technology Solutions (NASDAQ: CNTM) ha anunciado un Acuerdo de Servicios Gestionados (MSA) con County Comfort Home Solutions, un proveedor de soluciones energéticas con sede en el Condado de Westchester. Se espera que el acuerdo genere 7 millones de dólares en ingresos para 2025.
La asociación incluye una Carta de Intención no vinculante para adquirir County Comfort a un múltiplo de 5X EBITDA, sujeta al cumplimiento de hitos financieros. County Comfort integrará los servicios de Electrificación Flywheel de ConnectM, incluidos los productos de Bomba de Calor impulsados por IA y productos energéticos distribuidos.
County Comfort, reconocida como Contratista del Año en Aislamiento por Con Edison en el Condado de Westchester y entre los 3 principales Contratistas de Aislamiento de NYSERDA, se especializa en auditorías energéticas, aislamiento, climatización, sistemas solares y de baterías, y sistemas HVAC avanzados. La colaboración tiene como objetivo aprovechar la Red de Inteligencia Energética de ConnectM, la gestión de proveedores y las capacidades de aprovisionamiento mejoradas para impulsar el crecimiento y la eficiencia operativa de ambas organizaciones.
ConnectM Technology Solutions (NASDAQ: CNTM)가 웨스트체스터 카운티에 본사를 둔 에너지 솔루션 제공업체인 County Comfort Home Solutions와 관리 서비스 계약(MSA)을 체결했다고 발표했습니다. 이 계약은 2025년 동안 700만 달러의 수익을 가져올 것으로 예상됩니다.
이 파트너십에는 County Comfort를 5X EBITDA 배수로 인수하기 위한 비구속 의향서가 포함되어 있으며, 재무 마일스톤 충족 여부에 따라 달라집니다. County Comfort는 AI 기반 히트 펌프 및 분산 에너지 제품을 포함한 ConnectM의 전기화 플라이휠 서비스를 통합할 것입니다.
County Comfort는 웨스트체스터 카운티의 Con Edison 기후화 계약자 중 올해의 계약자로 인정받았으며, NYSERDA 기후화 계약자 가운데 상위 3위 안에 듭니다. 에너지 감사, 단열, 기후화, 태양광 및 배터리 시스템, 고급 HVAC 시스템을 전문으로 합니다. 이 협업은 ConnectM의 에너지 인텔리전스 네트워크, 공급업체 관리 및 향상된 조달 능력을 활용하여 두 조직 모두의 성장과 운영 효율성을 촉진하는 것을 목표로 합니다.
ConnectM Technology Solutions (NASDAQ: CNTM) a annoncé un Accord de Services Gérés (MSA) avec County Comfort Home Solutions, un fournisseur de solutions énergétiques situé dans le comté de Westchester. L'accord devrait générer 7 millions de dollars de revenus en 2025.
Le partenariat comprend une Lettre d'Intention non contraignante pour acquérir County Comfort à un multiple de 5X EBITDA, sous réserve de respecter certains objectifs financiers. County Comfort intégrera les services d'Électrification Flywheel de ConnectM, y compris des produits de Pompe à Chaleur alimentés par IA et des produits d'énergie distribuée.
County Comfort, reconnue comme Entrepreneur de l'Année en Isolation par Con Edison dans le comté de Westchester et parmi les 3 meilleurs Entrepreneurs de l'Isolation NYSERDA, se spécialise dans les audits énergétiques, l'isolation, l'étanchéité, les systèmes solaires et de batteries, ainsi que dans des systèmes HVAC avancés. La collaboration vise à tirer parti du Réseau d'Intelligence Énergétique de ConnectM, de la gestion des fournisseurs et des capacités d'approvisionnement améliorées pour stimuler la croissance et l'efficacité opérationnelle des deux organisations.
ConnectM Technology Solutions (NASDAQ: CNTM) hat eine Managed Services Vereinbarung (MSA) mit County Comfort Home Solutions, einem Anbieter von Energielösungen aus dem Westchester County, bekannt gegeben. Von der Vereinbarung wird erwartet, dass sie 7 Millionen US-Dollar Umsatz im Jahr 2025 generiert.
Die Partnerschaft umfasst ein nicht bindendes Letter of Intent zur Übernahme von County Comfort zu einem 5X EBITDA-Multiplikator, abhängig von finanziellen Meilensteinen. County Comfort wird die Electrification Flywheel-Dienste von ConnectM integrieren, einschließlich KI-gestützter Wärmepumpen und verteilter Energielösungen.
County Comfort, ausgezeichnet als Wetterisolationstechniker des Jahres von Con Edison im Westchester County und als einer der Top 3 NYSERDA Wetterisolationstechniker, ist auf Energieaudits, Dämmung, Wetterisolierung, Solar- und Batteriesysteme sowie moderne HVAC-Systeme spezialisiert. Die Zusammenarbeit zielt darauf ab, das Energieintelligenznetzwerk von ConnectM, das Lieferantenmanagement und die verbesserten Beschaffungsfähigkeiten zu nutzen, um Wachstum und betriebliche Effizienz für beide Organisationen voranzutreiben.
- Expected revenue contribution of $7 million in 2025
- Non-binding LOI to acquire County Comfort at 5X EBITDA multiple
- Integration of ConnectM's services into County Comfort's offering
- Partnership with award-winning energy solutions provider
- Acquisition agreement is non-binding and contingent on financial milestones
Insights
A strategic $7 million revenue contribution from the MSA in 2025 represents a significant boost for ConnectM, equating to approximately
The MSA structure cleverly de-risks the potential acquisition by allowing ConnectM to closely evaluate County Comfort's operational integration and financial performance before committing to a full purchase. This earn-out model, contingent on meeting financial milestones, aligns incentives and provides built-in due diligence.
County Comfort's strong regional presence and industry accolades, particularly in the high-value Westchester County market, suggest solid operational fundamentals. The integration of ConnectM's AI-powered solutions into County Comfort's existing service portfolio creates immediate cross-selling opportunities and potential margin expansion through operational efficiencies.
The strategic alignment between ConnectM's Energy Intelligence Network and County Comfort's established presence in energy-efficient home solutions represents a compelling market opportunity. County Comfort's recognition by both Con Edison and NYSERDA validates their operational excellence in a highly regulated market.
The partnership strategically positions both companies to capitalize on the growing electrification trend, particularly in the Northeast where state-level incentives and regulations are driving rapid adoption of heat pumps and distributed energy resources. The integration of ConnectM's AI-powered Heat Pump technology with County Comfort's existing weatherization expertise creates a comprehensive solution for home energy transitions.
For investors, this represents exposure to the accelerating electrification market through a de-risked partnership structure with clear revenue visibility. The combination of County Comfort's local market expertise with ConnectM's technology platform addresses key scaling challenges in the fragmented home energy services market.
Managed Services Agreement (MSA) Expected to Contribute
MSA Poised to Deliver Long-Term Sustainable Growth for ConnectM
MARLBOROUGH, Mass., Jan. 14, 2025 (GLOBE NEWSWIRE) -- ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) (“ConnectM” or the “Company”), a leader in the electrification economy, today announced its wholly owned subsidiary, ConnectM Technology Services LLC, has entered into a Managed Services Agreement (the “MSA”) with County Comfort Home Solutions Inc. (“County Comfort,”) a Westchester County, New York-based company specializing in energy audits, insulation, weatherization, solar and battery systems and advanced HVAC systems, among other services. This strategic partnership is expected to drive growth and operational efficiencies for both organizations, leveraging ConnectM’s comprehensive platform consisting of its Energy Intelligence Network, vendor management, and enhanced procurement amongst its features.
Under the terms of the MSA, the parties have also signed a non binding Letter of Intent to acquire County Comfort at a 5X multiple of EBITDA, contingent upon County Comfort meeting predefined financial milestones. This partnership aims to further enhance revenue and profitability through joint initiatives.
As part of the MSA, County Comfort now offers ConnectM’s Electrification Flywheel suite of services, which includes its proprietary AI-powered Heat Pump and distributed energy products. This collaboration underscores ConnectM’s mission to advance the electrification economy while delivering measurable savings and sustainability benefits to customers.
Joseph Jensen, CEO of County Comfort, and Michael Jensen, COO, bring decades of energy-related expertise and a commitment to innovation. In 2023, County Comfort was recognized as Con Edison’s Weatherization Contractor of the Year in Westchester County and a Top 3 NYSERDA Weatherization Contractor of the Year. County Comfort’s recognition as “The Face of the Green Energy Transition” by Westchester Magazine and the top producer within Contractor Nation’s Attic Systems group highlights County Comfort’s operational excellence in delivering energy-efficient solutions.
Bhaskar Panigrahi, Chairman and Chief Executive Officer of ConnectM, commented, “Partnering with County Comfort represents further progress in our strategy to integrate growing energy transition service companies into our electrification ecosystem. With this partnership, we further enhance ConnectM’s Energy Intelligence Network, providing benefits to County Comfort’s operational efficiency and helping scale their electrified offerings which include heat pumps, solar, and home batteries.”
Joseph Jensen, CEO of County Comfort, added, “Joining forces with ConnectM allows us to tap into their robust managed services platform and economies of scale, ensuring we deliver unparalleled value to our customers. Together, we are positioned to redefine the electrification services landscape in the U.S. Northeast region and beyond.”
About ConnectM Technology Solutions, Inc.
ConnectM is a pioneer in the electrification economy, integrating energy assets with its AI-driven technology platform. Focused on delivering solutions that drive efficiency, affordability, and sustainability, ConnectM serves home, facility, and fleet across three major segments: Building Electrification, Distributed Energy, and Transportation and Logistics. The company’s vertically integrated approach combines technology, service/distribution networks, and strategic partnerships to accelerate the transition to an all-electric energy economy.
For more information, please visit: www.connectm.com. Stockholders looking to receive Company updates directly to their inbox should sign up here.
About County Comfort
County Comfort is a family-owned company dedicated to advancing energy efficiency and sustainability in Westchester County and surrounding areas. With a proven track record of delivering high-quality energy solutions, County Comfort has become a trusted partner for homeowners and businesses alike. Recognized for their excellence by Con Edison and NYSERDA, they continue to lead in innovation, customer satisfaction and industry leading installation experience.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). We have based these forward-looking statements on our current expectations and projections about future events. All statements, other than statements of present or historical fact included in this press release, regarding our future financial performance and our strategy, expansion plans, future operations, future operating results, estimated revenues, losses, projected costs, prospects, plans and objectives of management are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may," "should," "could," "would," "expect," "plan," "anticipate," "intend," "believe," "estimate," "continue," "project" or the negative of such terms or other similar expressions. These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this press release. We caution you that the forward-looking statements contained herein are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. In addition, we caution you that the forward-looking statements regarding the Company contained in this press release are subject to the risks and uncertainties described in the "Cautionary Note Regarding Forward-Looking Statements" section of the Current Report on Form 8-K filed with the Securities and Exchange Commission on July 18, 2024. Such filing identifies and addresses other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and ConnectM is under no obligation to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact:
MZ North America
(203) 741-8811
ConnectM@mzgroup.us
FAQ
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