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Energy Advisory Firm 5 Acquires Legacy Energy Group

The Irving-based firm adds a Virginia energy management provider with operations in the PJM and MISO grid territories.

Updated on Nov. 5, 2026 in Utilities

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Irving-based energy advisory firm 5 acquired Virginia energy management provider Legacy Energy Group, expanding its footprint in the PJM and MISO grid territories. AI Illustration. Upload story photo >

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Irving-based energy advisory firm 5 has acquired Legacy Energy Group, a Virginia-based provider of energy management services founded in 1999. The acquisition price was not disclosed, and Legacy's Warrenton, Virginia office will remain open.

Why it matters

The deal expands 5's presence within the territories of PJM and MISO, and it is the firm's fourth acquisition and second since Energize Capital invested last year. Legacy's knowledge of PJM and its subject-matter expertise helped seal the transaction.

Legacy Energy Group oversees more than $300 million per year in natural gas and electricity purchases across industrial, commercial and multifamily sectors. The deal extends 5's reach into the PJM service area covering 13 states and the District of Columbia and the MISO area covering 15 states and Manitoba.

The players

5

An Irving, Texas-based energy advisory firm founded in 2011 that serves more than 5,000 clients including Empire State Realty Trust, Floor & Decor, Redeemer Health and Xerox.

Legacy Energy Group

A Virginia-based energy management services provider founded in 1999 that operates in the industrial, commercial and multifamily sectors.

Energize Capital

A Chicago, Illinois-based investment firm that invested in 5 last year.

The details

5 combined Legacy's UtiliViz utility data management system with its own Level5 energy data platform, and Legacy's team, including President Michael Housley and Senior Vice President Thomas Ihrig, will work under the 5 umbrella. The firm said it remains open to further acquisitions where a target's culture, ethics and values are a good fit.

Timeline

  1. Legacy Energy Group was founded in 1999.

  2. 5 was founded in 2011.

  3. Energize Capital invested in 5 last year.

  4. The acquisition was announced November 5, 2026.

Market Landscape

The deal reflects continued consolidation among energy management firms that serve the PJM and MISO wholesale power markets, where specialized regional knowledge is a competitive asset. It also follows Energize Capital's investment in 5 last year, a sign that private capital is funding roll-up strategies in this sector.

Legacy's clients in the industrial, commercial and multifamily sectors will now be served under the 5 umbrella with the combined UtiliViz and Level5 platforms. Legacy's Warrenton, Virginia office will remain open, so existing local service arrangements are not expected to change.

The takeaway

Energy buyers working with Legacy or 5 can expect continuity in local service while the two data platforms are integrated. Companies evaluating energy management partners should watch how the combined platform handles PJM and MISO market access.

Further reading

For more on regional energy providers, see the Utilities section.

Source note: This article includes information reported by Dallas Innovates.

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