Hinesburg’s Renewable NRG Systems was sold to a St. Louis company last week.
NRG Content Marketing Specialist Brittany Good declined to disclose the purchase price, and said that the company, founded in 1982, with annual sales of about $45 million, is remaining in town. “We’re staying right where we are, and the employees are staying where they are,” Good said.
NRG owner and Chairwoman Jan Blomstrann is retiring from the company she has overseen for more than a decade, said Good. “She’s doing really well. She’s retiring.”
Four years ago, NRG systems slashed just under four dozen employees, cutting the Hinesburg company’s employment rolls to fewer than 80.
ESCO Technologies noted in a press release early last week that NRG Systems will join Doble Engineering as part of ESCO’s Utilities Solutions Group. In the statement, Doble president Bryan Sayler welcomed NRG to the company. “The addition of NRG offers Doble the opportunity to access the growing renewable energy market, expand our geographic presence and provide our existing customers with proven tools to optimize their renewable energy assets.”
In the release, ESCO described NRG as the “global market leader in the design and manufacture of design support tools for the renewable energy industry.”
NRG president Justin Wheating said the sale will enable the company to continue to expand into new areas. “Becoming part of ESCO further strengthens our ability to grow the continued investment in new products and the expansion of our existing technologies into new markets. We’re excited about our future and pleased to join a company that shares our core values.”