By Joshua Burd
An energy advisory firm has expanded its presence in the region with its acquisition of a Monmouth County-based consulting business.
The company, 5, announced that it was acquiring Allenhurst-based Luthin Associates for an undisclosed price. In doing so, it adds a business that has provided energy consulting services for the last 25 years to major industry sectors throughout the country and the Northeast, with a focus on energy procurement and risk management, energy efficiency and sustainability and regulatory affairs.
The company’s president, Catherine Luthin, will remain in her role as president but will also take on the expanded role of managing director at 5, helping foster expanded client services.
“Catherine Luthin has been a pioneer in energy management,” said Brian Hayduk, 5’s CEO. “She had the foresight — long before others — to start a firm that would help institutional clients manage their energy usage and costs today and for the future.
“Catherine has been at the forefront of energy policy and energy services for decades, and her leadership, in particular, has led to the development of numerous long-term client relationships with globally recognized hospitals, universities and businesses. She is a trailblazer and innovator in the industry. Unlike other energy management firms, the depth of her firm’s services includes representation in proceedings related to utility tariffs and regional power grid operations.
“We are thrilled to have her and the Luthin Associates team as part of our organization.”
Based in Irving, Texas, 5 is an energy adviser with operations throughout the United States and Mexico, according to a news release. The eight-year-old firm offers strategic advice on energy-related matters including procurement, demand management, renewable energy and rate optimization for public entities and private-sector businesses.
The company has sought to enhance its energy advisory services, initiating several strategic acquisitions and partnerships with firms such as Luthin Associates.
“By combining forces with 5, Luthin Associates now offers its clients a broader suite of resources and technology, along with a deep bench of talent across the energy spectrum,” Luthin said. “It’s a significant advantage for all of our clients who now have a best-in-class team of advisors, analysts, engineers and administrators immersed in their business, identifying cutting edge solutions to effectively and efficiently manage their energy.”