Aberdeen-headquartered Xodus Group has expanded its North American footprint buying up Daymark Energy Advisors.
The value of the deal was undisclosed, but it adds 40 people across 23 USA states and two Canadian provinces to Xodus’ global operations.
The addition of the Worcester, Massachusetts-based consultancy will bolster Xodus’ advisory capability on power networks, including technical challenges, regulatory frameworks and the market pricing dynamics associated with transmission and distribution (T&D) of electricity from source to demand.
Daymark, which was employee-owned, will also add knowledge of battery storage and onshore wind and solar, as well as sustainable aviation fuels (SAF),
Daymark chief executive Marc Montalvo, who took on the leadership role at the 45-year old firm ten years ago, is expected to remain with the firm as it integrates with Xodus.
A spokesman for Xodus said Montalvo will be “an integral part of the Daymark team as we complete the integration and will be key to our plans to grow this capability globally”.
Xodus, which is owned by energy services giant Subsea 7, currently employs 600 people.
Xodus chief executive Steve Swindell said: “Xodus was founded 20 years ago to deliver independent, integrated thinking to the energy industry.
“The energy landscape has evolved beyond recognition in that time and the needs of the industry have changed. Xodus wants to continue to be at the forefront of delivering integrated advice to the industry and acquiring Daymark Energy Advisors supports this effort.
“Our involvement in energy transition projects has grown considerably, with many developments either delivering electrons to the grid or drawing upon power from the grid / local power source in the production of hydrogen or the storage of carbon.
“Daymark brings deep knowledge and an integrated view of energy infrastructure, regulation, and markets to help clients succeed in the face of uncertainty and transformative change. This acquisition will combine our expertise to offer clients more complete solutions to the challenges they face and the questions they have about this growing, global market.”
Montalvo added: “Xodus has a long track record of activities in the global offshore wind, oil and gas, cables, and interconnectors sectors as well as CCUS and hydrogen. Both parties bring different – but complementary – knowledge and skillsets to the energy market and infrastructure project consultancy.”
Daymark will initially work independently following the acquisition at the beginning of March 2025 but is expected to integrate and be fully Xodus in the future.
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