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Enernoc Buys Australia’s Energy Response to Add Markets

Enernoc Inc. (ENOC), a U.S. electricity demand-reduction service, bought the largest provider of such services in Australia and New Zealand for A$27.9 million ($29.9 million) in cash and stock.

The acquisition of Energy Response Pty will reduce earnings this year and next, and boost profits starting in 2013, Boston- based Enernoc said today in a statement. The purchase more than doubles Enernoc’s portfolio in western Australia to 240 megawatts from 100 megawatts and lets the company expand into eastern Australia and New Zealand.

Enernoc rose 41 cents, or 2.6 percent, to $16.22 today in Nasdaq Stock Market trading. It has declined 32 percent this year.

To contact the reporter on this story: Christopher Martin in New York at cmartin11@bloomberg.net.

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net.

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