Franklin Energy acquires Resource Action Programs
Last week’s acquisition of Resource Action Programs by Franklin Energy of Port Washington, Wis., could lead to double-digit job growth for Sparks-based RAP.
Dan Tarrence, president of Franklin Energy, says Resource Action Programs — a provider of educational programs focusing on residential energy-efficiency and water conservation — is a logical expansion of Franklin Energy’s service offerings to the utility companies that are its customers. Franklin has more than 400 employees, 25 office locations and works in 18 states, Tarrence says. The acquisition allows Franklin to target some of RAP’s primary customers with additional services.
“It really gives us something more we can offer to our current clients,” he says. “We are looking to enhance our services to residential users of utilities.”
RAP also has between 15 and 20 clients that weren’t customers of Franklin Energy. The acquisition offered Franklin the chance to bring those clients into Franklin’s portfolio of energy-efficiency programs, Tarrence adds.
Resource Action Programs employs between 35 and 40 people at its offices and production center on United Circle in Sparks. The business will continue operating as Resource Action Programs, Tarrence says, and the ability to sell RAP’s products to existing Franklin customers likely will result in strong job growth in the future.
Franklin had been looking to expand, Tarrence adds, and RAP worked in a slightly different sector than Franklin’s core focus of implementing energy efficiency programs for utilities.
“We are exclusively built to help utilities achieve their energy-saving goals,” he says. “Our clients, the utility providers, work with their homeowners and business owners on ways they can be more efficient using engery. We have been looking for an acquisition that would add either geography or services to our existing products of what we offer to our utility clients.”
Tarrence courted the executive team at RAP with a tour of Franklin’s headquarters operation about 25 miles north of Milwaukee on the shores of Lake Michigan. Shared beliefs quickly became apparent between the two groups, he says.
“We wanted to test their corporate culture and see if that was a match,” he says. “That is important to us. We found that the team at RAP, not just owners but also the management team, were very simpatico and made a really nice connection. Their reputation is for high quality, and a lot of clients give them accolades for their work.”
Q-and-A with UNR President Sandoval: ‘We’re going to strengthen our relationships with private industry’
“Economic diversification is inextricably intertwined with higher education and the university,” former Gov. Brian Sandoval told the NNBW last week. Read more in a Q-and-A with the UNR president, in which he discusses the university’s role in the economy and what opportunities are on the horizon in 2021 and beyond.