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M&As SCL-Elements-Schneider Electric

Published on January 31st, 2013 | by Ted Liu

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Schneider Electric acquires venture-backed SCL Elements

Schneider Electric has recently acquired the assets and operations of Montreal based SCL Elements Inc., the provider of CAN2GO building automation solutions, for undisclosed amount.

CAN2GO building automation solutions provide energy efficiency and comfort for light-commercial and mid-market buildings. It offers a wide variety of wired and wireless products for retrofits, HVAC, lighting & metering projects.

The CAN2GO Web BEMS is a building energy management system hosted directly by the CAN2GO controllers (no license fee). The Web BEMS can also export data and be integrated to third party solutions (BAS, cloud or software) using BACnet, oBIX or FTP.

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CAN2GO will be integrate with Schneider Electric’s StruxureWare™ software applications and suites. StruxureWare software enables Schneider Electric’s EcoStruxure™ integrated energy management architecture that is designed to simplify energy management, allowing users to see, measure, and manage efficiency across their buildings.

“At Schneider Electric, we’re focused on providing best-in-class products and complete solutions for managing the world’s energy,” said Michel Ramser, VP of Offer Management for the Buildings Business of Schneider Electric. “With the acquisition of SCL Elements, we’ve added an innovative building automation solution to our portfolio to better serve our customers.”

“Given our successful partnership with Schneider Electric, we are extremely excited to join forces with a global leader in energy management,” said Simon Leblond, President & CEO of SCL Elements. “This acquisition carries forward the expertise of our employees and our advanced product range while delivering new opportunities to customers of Schneider Electric.”

In October 2011, SCL Elements raised $2.15 million in Series A financing from The Westly Group and Navitas Capital. Prior to that, it raised undisclosed amount from a group of 11 Anges Québec member investors, including Yves Racine.

SCL Elements is led by Leblond and Louis-Nicolas Hamer, VP of Business Development.

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About the Author

Ted is an editor of CanadianPrivateEquity.com and Research Director for CVCA - Canada's Venture Capital and Private Equity Association. Ted has been following Canadian venture capital and private equity industry since 1993.



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