Orix Acquires 80% of U.S. Energy Management Company Enovity

Oct. 3 (Bloomberg) -- Orix Corp., a Japanese finance and leasing company, acquired an 80 percent share in Enovity, a U.S. building energy management services company.

Enovity provides services in energy management and building automation, mainly in California, Orix said in a statement today. No terms were disclosed.

The market for energy-saving systems is expected to expand in Asia including China, Singapore and the Philippines, according to the statement.

The Tokyo-based company has been investing in clean energy such as solar and geothermal in Japan and in June acquired a 20 percent stake in Global Business Power Corp., an energy services company in the Philippines, according to the statement.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

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