Ascend Advises Fidelity Building Services Group on its Acquisition of Power of Clean Energy

Ascend has now advised Fidelity BSG on nine acquisitions to support its technical, services, and geographic expansion strategy.

WASHINGTON, DC (December 19, 2023)—Ascend Capital Group (“Ascend”) advised Fidelity Building Services Group (“Fidelity BSG”), a premier provider of high-performance integrated technical building solutions, on its acquisition of Power of Clean Energy (“PCE”).

Based in Nashville, Tenn., PCE provides energy transition planning and project implementation to help facilities reduce energy consumption and costs, improve efficiency, decarbonize, and meet sustainability goals. Its offerings include customized, end-to-end energy solutions in lighting, HVAC redesign, alternative energies, and building automation & analytics. PCE operates throughout the southern US, serving customers in the healthcare, education, and commercial real estate markets, as well as religious institutions.

Fidelity BSG is executing an aggressive growth strategy to expand its technical capabilities and geographic reach into strategic, high-growth markets. This acquisition is part of the expansion of Fidelity Energy & Sustainability, a national team of professionals dedicated to transforming buildings into energy-efficient, sustainable, and healthy environments.

“Power of Clean Energy’s positive team culture, visionary approach, and client dedication are a tremendous addition as we continue to scale our footprint and momentum,” said Fidelity Energy & Sustainability President Dan Weeden. “The Ascend team’s deep understanding of our investment strategy allowed them to identify this unique, proprietary opportunity, further underscoring how valuable their partnership is in our ongoing expansion.”

The Ascend team has continued to support Fidelity BSG’s acquisition strategy to expand its best-in-class technical building expertise since October 2020 through nine successful transactions.

“Fidelity BSG’s acquisition of Power of Clean Energy reinforces its commitment to investing in innovative technology solutions to reduce energy consumption in measurable, sustainable ways,” said Ascend Director Thien Van Tran. “As the emphasis on corporate carbon footprint reduction and energy optimization increases, the Ascend team is dedicated to leveraging our industry experience to assist our clients in sourcing and executing the forward-thinking acquisitions that will keep them ahead of broader market shifts.”

Fidelity BSG is actively pursuing partnerships with HVAC/Mechanical Services, Emergency Power Generation, and Building Automation & Controls companies with a solid track record of success and established commercial, government, educational, and/or industrial clients. Please contact Thien Van Tran at to learn more.

This acquisition was effective September 1, 2023


Thien Van Tran | 703.853.3055

The Ascend team’s deep understanding of our investment strategy allowed them to identify this unique, proprietary opportunity, further underscoring how valuable their partnership is in our ongoing expansion.

About Fidelity Building Services Group
About Fidelity Building Services Group

Fidelity Building Services Group is a leading national provider of technical building services and solutions for the commercial and industrial facilities market. Our product and service offerings include HVAC/Mechanical Services, Energy & Sustainability Engineering, Advanced Building Automation, and Emergency Power Systems. Our core markets are commercial, industrial, and institutional facilities. Fidelity BSG leaders are some of the most highly regarded individuals in the service, construction, and engineering communities. Collectively, we share a commitment to advancing the cause of building energy efficiencies, sustainable energy solutions, and service excellence.

In 1945, Fidelity BSG was founded as a full-service mechanical engineering, contracting, and service company that introduced air conditioning, refrigeration, and process cooling to a new marketplace. The advent of air conditioning went on to revolutionize the entire building industry, and Fidelity BSG has been on the leading edge ever since. Today, through strategic acquisitions and partnerships, the Fidelity BSG geographic footprint has grown beyond the Mid-Atlantic, extending through the South, Southeast, Midwest, Gulf, and Northeast regions. We have over 2,300 Team Members, more than 70 locations serving 23 states, and over 75 years of excellence delivering Proactive, World-Class Service. For more information, visit

About Power of Clean Energy
About Power of Clean Energy

Power of Clean Energy, a Fidelity Company, helps commercial and industrial facilities meet their ESG sustainability goals while reducing energy consumption, expenses, and carbon footprints. PCE provides comprehensive energy transition planning and project implementation, utilizing state-of-the-art technologies including lighting, HVAC redesign, and building automation and analytics.

With custom solutions designed for specific buildings and budgets, PCE analyzes client energy usage, rate structures, and capital investment to create prioritized paybacks, contributing to increased building asset value and sustainable operation. For more information, visit

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