SOURCE: SIB Fixed Cost Reduction Company, LLC

SIB Fixed Cost Reduction

June 29, 2015 11:28 ET

SIB Development & Consulting Acquires HOA Energy Advisors, Launches SIB Lighting

CHARLESTON, SC--(Marketwired - June 29, 2015) - SIB Development & Consulting, a Charleston-based cost reduction consulting firm, announced today that it has acquired HOA Energy Advisors, a Florida-based company specializing in energy-efficient lighting products and installations. The company will now be known as SIB Lighting, and will operate as a subsidiary of SIB.

SIB's primary division, SIB Fixed Cost Reduction, works with restaurant groups, hospitals, senior living facilities, universities, government agencies, Fortune 500 companies, and multiple-site organizations to analyze and reduce their fixed monthly costs. SIB Lighting will expand the mission of the company by specializing in new technology, LED lighting, and energy-efficient retrofits.

Technological advancements in recent years have resulted in compelling economics for conversion to LED lighting for many commercial customers. The economics are powerful enough to allow for zero upfront cost options for companies to upgrade lighting systems, and SIB plans to offer these solutions to its client base.

"A number of our clients have expressed frustration in dealing with LED vendors," said Dan Schneider, CEO of SIB. "We believe SIB Lighting's unique vendor-neutral approach will allow us to work with our clients to increase their profits."

The acquisition was financed with help from Gold Ridge Asset Management, a Charleston-based private equity firm, and Silicon Harbor Ventures, a Charleston-based investment firm. The two firms have extensive experience in financial services, cost reduction, and business development, and will provide strategic and financial support to SIB Lighting.

"We see real potential to work with SIB to offer clients various financing options related to LED lighting conversions, including non-CAPEX lighting-as-a-service options," said Michael Knox, President of Gold Ridge.

Industry veteran David Etzler was CEO of HOA Energy Advisors, and will serve as president of SIB Lighting, where he will manage the strategic development and growth of the new division. Etzler has over 10 years of experience and is a certified LEED Green Associate.

"I'm very excited to be leading this new division under the SIB umbrella, as we offer a great way for companies to save money through reducing their energy consumption," said Etzler.

SIB Lighting's sales office and warehouse will continue to be based in Boca Raton, Florida, and all administrative functions will be handled by its headquarters in Charleston, South Carolina.

About SIB Lighting

SIB Lighting is the newest division of SIB Development & Consulting, Inc. Founded in 2015, SIB Lighting assists companies and organizations with analyzing their lighting needs, and financing, procuring, and installing new equipment. SIB Lighting offers LED lighting systems and retrofits to increase energy efficiency, boost equipment longevity, and dramatically reduce electricity and maintenance costs. For more information about SIB Lighting, visit their web site at www.SIBLighting.com.

About SIB Fixed Cost Reduction

SIB Fixed Cost Reduction Company, LLC is the largest division of SIB Development & Consulting, Inc., specializing in reducing monthly expenses for companies with multiple locations. Unlike other consulting firms, SIB only bills based on the savings they find, and clients are not billed until savings are realized. Through expert analysis, SIB will discover if businesses have overpaid or are currently overpaying on services such as telecom, utilities, waste removal, bank fees, maintenance contracts, and other recurring bills. For more information about SIB, visit their web site at www.AboutSIB.com.

About Gold Ridge Asset Management

Gold Ridge Asset Management is a private equity and investment firm with offices in New York and Charleston, South Carolina. Gold Ridge partners with managers and owners who have significant resources committed to their businesses, and provides funding for acquisitions, growth capital, and ownership changes. Gold Ridge seeks to be long-term investors in the companies with whom they partner, with the goal of achieving long-term growth. For more information about Gold Ridge, visit their web site at www.GoldRidgeAsset.com.

About Silicon Harbor Ventures

Silicon Harbor Ventures is a dedicated angel capital fund based in Charleston, South Carolina. SHV provides capital for growth and acquisitions to strong management teams who are financially committed to their businesses. For more information about SHV, visit their website at www.SiliconHarborVentures.com.