Ameresco, Inc. 8-K

What Happened

• Ameresco, Inc. filed an 8‑K (Mar 31, 2026) disclosing Amendment No. 2 to its Sixth Amended and Restated Credit Agreement and changes to senior management effective April 1, 2026.
• Under the amendment dated March 30, 2026, the Company increased its Term Loan by $45 million (from $95M outstanding to $140M total) and used most of the incremental proceeds to pay down the Revolver. Immediately after closing, $140 million was outstanding under the Term Loan. The Revolver remains a $225 million facility; the Term Loan and Revolver mature Dec 28, 2028.
• The Board appointed Nicole A. Bulgarino and Louis P. Maltezos as Co‑Presidents and Peter Christakis as Chief Operating Officer. Nicholas Sakellaris will step down as President but will continue as Chief Executive Officer and Chairman of the Board.

Key Details

• Credit amendment: Term Loan increased by $45 million to $140 million; most proceeds used to repay amounts under the $225 million Revolver. $140 million outstanding after closing.
• Repayment schedule: quarterly principal payments of $1.25 million beginning March 31, 2025 and $1.81 million beginning June 30, 2026; remaining balance due at maturity (Dec 28, 2028).
• Security and guarantees: obligations remain guaranteed by certain U.S. subsidiaries and secured by pledges of the Company’s and guarantors’ assets (with standard carve-outs for certain subsidiary equity and non‑core assets).
• Leadership: Bulgarino (with Ameresco since 2004) to oversee data centers, large energy infrastructure, advanced power solutions and Federal Solutions; Maltezos (since 2004) to oversee non‑federal projects, Smart Building Solutions and Canada; Christakis (since 2000) to oversee procurement, H&S, U.S. solar/battery and European operations. No related‑party arrangements disclosed.

Why It Matters

• For investors, the amendment shifts borrowings from the revolver to a larger term loan ($140M outstanding), changing the company’s debt profile and setting scheduled principal amortization through maturity. That affects near‑term cash outflows and liquidity planning.
• The board’s internal promotions keep operational leadership in experienced hands and preserve CEO continuity (Sakellaris remains CEO and Chair), which may reassure on execution and strategy continuity.