Energy Conservation Company Will Be Sold
American Energy Savings, a Northridge energy conservation firm, has agreed to be acquired by a Newport Beach holding company for about $2 million in cash and stock.
American Energy Savings, founded in 1976, specializes in studies for big energy users such as hospitals. The company says it expects sales of about $4 million this year.
Ven-Cap moved from Vancouver, Wash., to Newport Beach in January.
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