ConnectM Technology Solutions, Inc. (Nasdaq: CNTM) (“ConnectM” or the “Company”), a leader in the electrification economy, today announced its wholly owned subsidiary, ConnectM Technology Services LLC, has entered into a Managed Services Agreement (the “MSA”) with County Comfort Home Solutions Inc. (“County Comfort,”) a Westchester County, New York-based company specializing in energy audits, insulation, weatherization, solar and battery systems and advanced HVAC systems, among other services. This strategic partnership is expected to drive growth and operational efficiencies for both organizations, leveraging ConnectM’s comprehensive platform consisting of its Energy Intelligence Network, vendor management, and enhanced procurement amongst its features.
Under the terms of the MSA, the parties have also signed a non binding Letter of Intent to acquire County Comfort at a 5X multiple of EBITDA, contingent upon County Comfort meeting predefined financial milestones. This partnership aims to further enhance revenue and profitability through joint initiatives.
As part of the MSA, County Comfort now offers ConnectM’s Electrification Flywheel suite of services, which includes its proprietary AI-powered Heat Pump and distributed energy products. This collaboration underscores ConnectM’s mission to advance the electrification economy while delivering measurable savings and sustainability benefits to customers.
Joseph Jensen, CEO of County Comfort, and Michael Jensen, COO, bring decades of energy-related expertise and a commitment to innovation. In 2023, County Comfort was recognized as Con Edison’s Weatherization Contractor of the Year in Westchester County and a Top 3 NYSERDA Weatherization Contractor of the Year. County Comfort’s recognition as “The Face of the Green Energy Transition” by Westchester Magazine and the top producer within Contractor Nation’s Attic Systems group highlights County Comfort’s operational excellence in delivering energy-efficient solutions.
Bhaskar Panigrahi, Chairman and Chief Executive Officer of ConnectM, commented, “Partnering with County Comfort represents further progress in our strategy to integrate growing energy transition service companies into our electrification ecosystem. With this partnership, we further enhance ConnectM’s Energy Intelligence Network, providing benefits to County Comfort’s operational efficiency and helping scale their electrified offerings which include heat pumps, solar, and home batteries.”
Joseph Jensen, CEO of County Comfort, added, “Joining forces with ConnectM allows us to tap into their robust managed services platform and economies of scale, ensuring we deliver unparalleled value to our customers. Together, we are positioned to redefine the electrification services landscape in the U.S. Northeast region and beyond.”