Nexamp: Right Time, Right People

May 2009

The terms “vision” and “innovation” have been used so often in connection with business that they’ve nearly lost their meaning. But Dan Leary’s work encompasses both concepts. At the height of energy deregulation and the introduction of a range of new technologies, Leary founded North Andover-based Nexamp in 2006.

“Nexamp is a turnkey clean energy and carbon reduction solutions integrator,” explains Jonathan Abe, Director of Business Development. “We design, finance, build and operate projects that reduce energy costs and carbon emissions and maximize ROI for our clients in Massachusetts, New Hampshire and Southern Maine.”

It takes discipline to create a new company based on cutting-edge technology, and Leary, Nexamp’s President and COO, comes by it honestly. Prior to founding the firm, he held the rank of Captain and served as a company commander with the U.S. Army Medical Service Corps. To make it all work, Leary brought in the right people and solid financial backing. Dan Thompson, Nexamp’s Vice President of Integration, was a Captain with the U.S. Army Corps of Engineers. Abe, who joined in 2008, formerly was the Manager of the MTC Commonwealth Solar program. Nexamp is backed by RCG Ventures, an investment group with extensive experience in energy and building science.

Nexamp’s growth during the past two years has been exponential: In 2007, its first complete year of operation, the 27-employee company had sales of $1.5 million. The next year, sales grew by 300%, hitting $4.5 million. It now has more than 100 business, government and residential clients. Nexamp’s success is driven in part by the way it interacts with clients.

“We work with clients at a tactical level to design and build specific energy solutions. We also work at a strategic level to formulate and track progress against a comprehensive, customized ‘roadmap’ for the implementation and operation of a broad range of clean energy projects,” Abe asserts.

Key to everything working, he adds, are the results Nexamp gets for its clients. For example, a recent solar project undertaken for Boston Sand and Gravel won the Association of Energy Engineers “2008 Best Energy Reduction Project in New England” and reduced energy consumption at the company’s maintenance garage by 75%. It’s that kind of work that has made Nexamp the leading solar installer in Massachusetts.

Salem Five Resource

Power Partners

In less than three years, Nexamp has more than tripled its revenues and built a formidable client base. While much of its success is due to its unique energy solutions and solid team, Jonathan Abe also points to support from Salem Five.

“Our line of credit with the bank has enabled our rapid growth,” he says. “It allows us to better manage inventory and facilitate construction financing for larger clean energy projects, while maintaining working capital and a strong balance sheet.”

A Salem Five line of credit allows you to write yourself a loan whenever you need capital, have cash flow concerns or have a new business opportunity—expand your office space, purchase volume inventory, finance receivables or take advantage of trade discounts—you can use your line of credit for any business purpose.

A Salem Five term loan can give you the capital you need to purchase equipment or vehicles, consolidate debt or make tangible business improvements. We offer a flexible, convenient unsecured term loan with predictable repayment terms. At Salem Five, you’ll get loan terms with fixed rates, no collateral requirements and speedy funding.