The Carnrite Group – Business Times Oman http://www.businesstimesoman.com Tue, 08 Nov 2022 16:00:55 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.2 The Carnrite Group Joins Alvarez & Marsal http://www.businesstimesoman.com/the-carnrite-group-joins-alvarez-marsal/ http://www.businesstimesoman.com/the-carnrite-group-joins-alvarez-marsal/#respond Tue, 08 Nov 2022 16:00:55 +0000 http://www.businesstimesoman.com/?p=305817 HOUSTON, Nov. 08, 2022 (GLOBE NEWSWIRE) — Leading global professional services firm Alvarez & Marsal (A&M), has announced it is integrating successful energy consultancy, The Carnrite Group, into its energy practice. The move, which includes the addition of 20+ new employees to A&M's U.S. Energy Practice, bolsters the firm's proven track record for maximizing enterprise value for corporate and private equity clients in the industry.

"A&M has worked adjacent to The Carnrite Group teams over the last 17 years while serving energy industry clients, and we deeply admire their capabilities and the value they've created for the companies we serve," said Lee Maginniss, lead for A&M's U.S. Energy Practice. "Together, we will bring increased leverage and expertise to help our energy clients navigate the uncertainty and massive change inherent to today's market."

The Carnrite Group is a management consultancy focused on energy, industrial and private equity sectors. Since 1991, The Carnrite Group has helped clients achieve financial and operational performance goals, build successful organizations and create sustainable, resilient businesses. Alan ("Al") Carnrite, The Carnrite Group's Founder and CEO, and Nicholas ("Nick") Carnrite join A&M as Managing Directors. Their experience builds upon A&M's existing transformation, performance improvement, buy– and sell–side transaction, and turnaround and liquidity management capabilities.

Al Carnrite brings over forty years of industry and consulting experience as a trusted advisor to executive leadership across the energy, industrial and private equity sectors. Nick Carnrite specializes in corporate strategy, business transformation, and sustainability strategy, and has worked extensively across North America, Europe and the Middle East since joining The Carnrite Group in 2011. Al and Nick are joined by an experienced team of professionals, including Geoff Angulo, Gillian Tilbury, Nolan King, Chris Chia, Steve Cobb, and Kyle Vano, who are joining A&M as Senior Directors.

"We are excited to join a firm with A&M's credibility and reputation for delivering real results to clients across the Energy ecosystem," said Al Carnrite. "A large part of our success to date has been an unwavering belief that deep, hands–on experience in these sectors is critical to driving sustained value for our clients. A&M shares in this belief and brings a similar model to market."

Mr. Maginniss added, "Energy Transition, digitalization, geopolitical and social pressures "" as enormous as the complexity is, so too is the opportunity to drive value. Together we will help our clients deliver the financial results and the breakthrough growth they seek."

The Carnrite Group's Europe and Middle East businesses will continue to operate under The Carnrite Group brand during the initial integration period, while collaborating extensively with A&M. Carnrite Ventures will continue to operate as a standalone business.

About Alvarez & Marsal

Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems.

With over 7,000 people across five continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M's restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world–class consultants, former regulators, and industry authorities with a shared commitment to telling clients what's really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth.

To learn more, visit: AlvarezandMarsal.com. Follow A&M on LinkedIn, Twitter, and Facebook.

CONTACT: Sandra Sokoloff, Senior Director of Global Public Relations, Alvarez & Marsal,
+1 212– 763–9853 (ssokoloff@alvarezandmarsal.com)


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Carnrite and Persefoni Expand Partnership to Accelerate Private Sector Carbon Emission Reductions http://www.businesstimesoman.com/carnrite-and-persefoni-expand-partnership-to-accelerate-private-sector-carbon-emission-reductions/ http://www.businesstimesoman.com/carnrite-and-persefoni-expand-partnership-to-accelerate-private-sector-carbon-emission-reductions/#respond Thu, 07 Jul 2022 06:00:00 +0000 http://www.businesstimesoman.com/?p=305015 DUBAI, United Arab Emirates, July 07, 2022 (GLOBE NEWSWIRE) — The Carnrite Group ("Carnrite") and Persefoni Inc. (“Persefoni") have announced the development of a Footprint Data Services solution to expand their strategic partnership and support more businesses as they begin their emissions reduction journeys.

While new regulations are mandating climate disclosures across major markets including the US, UK and European Union, many businesses still lack the adequate resources and ability to accurately measure and reduce their greenhouse gas emissions. This partnership will seek to resolve this by delivering to businesses at the start of their emission reduction journeys access to new climate technology solutions so they can meet evolving investor and stakeholder demands. By increasing accessibility, Persefoni and Carnrite hope to accelerate Persefoni's enterprise customers', and other businesses', emission reduction and net zero ambitions.

The Footprint Data Services combines Persefoni's market–leading SaaS climate management and carbon accounting platform with Carnrite's dedicated sustainability advisory practice and carbon accounting expertise. Under the Footprint Data Services, Carnrite will fully manage the collection of activity level data from various organizational sources, format and prepare collected activity data, including the preparation of proxy datasets as needed, and upload the activity data into the Persefoni platform. Carnrite will also conduct data quality assurance and gap assessments to identify any outliers of the client's carbon footprint. At the completion of the Footprint Data Services, Carnrite will provide clients with data governance and process recommendations to streamline on–going emissions reporting.

Going forward, Carnrite and Persefoni will continue to explore opportunities to expand collective service offerings that support and facilitate clients' carbon management initiatives, including decarbonization roadmap services for Persefoni customers.

Persefoni CEO, Kentaro Kawamori, commented: “One of the most time–intensive parts of any carbon accounting process is identifying, sourcing, and readying data to be usable for calculations. The Carnrite Group has developed a deep expertise working with financial, operational, supply chain, and investment data that allows them to deliver a service for our joint customers that significantly reduces their time spent going through a carbon accounting process.”

Carnrite Group's CEO, Al Carnrite, commented: "Combining our sustainability services with Persefoni's carbon management software enhances our ability to help companies achieve their climate and sustainability goals. We're excited to build upon our partnership and make it even easier for customers to adopt this market–leading software."

About Carnrite

Carnrite Group is a management consultancy with offices in Houston, London, and Abu Dhabi. The company deploys its unique combination of consulting expertise and industry experience to assist clients with topics such as corporate strategy, mergers and acquisitions, performance improvement, human capital, and digital transformation. Carnrite Group's Sustainability and Energy Transition practice helps clients measure, monitor, reduce, and offset their carbon footprint, while investing in new energies and low carbon solutions. Clients view Carnrite Group as a dedicated, practical business partner capable of implementing complex change. Learn more at carnritegroup.com.

About Persefoni

Persefoni Inc. is a leading Climate Management & Accounting Platform (CMAP). The company's Software–as–a–Service solutions enable enterprises and financial institutions to meet stakeholder and regulatory climate disclosure requirements with the highest degree of trust, transparency, and ease. As the ERP of Carbon, the Persefoni platform provides users a single source of carbon truth across their organization, enabling them to manage their carbon transactions and inventory with the same rigor and confidence as their financial transactions. Learn more at persefoni.com.


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The Carnrite Group Acquires NETZERO Middle East, Expands Energy Transition Offerings http://www.businesstimesoman.com/the-carnrite-group-acquires-netzero-middle-east-expands-energy-transition-offerings/ http://www.businesstimesoman.com/the-carnrite-group-acquires-netzero-middle-east-expands-energy-transition-offerings/#respond Thu, 02 Dec 2021 07:29:44 +0000 http://www.businesstimesoman.com/?p=306779 DUBAI, United Arab Emirates, Dec. 02, 2021 (GLOBE NEWSWIRE) — The Carnrite Group ("Carnrite"), a management consultancy with offices in Houston, London, and Abu Dhabi, has agreed to acquire Dubai–based NETZERO Middle East ("NETZERO"). The acquisition will expand Carnrite's ability to help clients form and operationalize energy transition strategies. The transaction is expected to close by year–end 2021. Ashley Taylor, Managing Director of NETZERO, will join Carnrite as General Manager, Middle East & North Africa.

NETZERO specializes in carbon credits and offsets in voluntary carbon markets. Its clients include project developers, energy and industrial companies, and governments. NETZERO works with nature–based and engineered project developers to monetize carbon credits, while assisting companies in "hard–to–abate" sectors with sourcing high–quality offsets. Together with NETZERO, Carnrite's Energy Transition practice will be positioned to help clients measure, monitor, reduce, and offset emissions.

"We have built an ecosystem of partnerships with leading companies such as Persefoni and Data Gumbo. These relationships allow us to help clients efficiently measure and monitor their emissions. Beyond measurement, we've been working with clients in North America, Europe, and the Middle East to form energy transition strategies, decarbonize operations, and invest in low carbon and new energy projects like carbon capture and storage," said Nicholas Carnrite, Partner & Managing Director. "Our acquisition of NETZERO expands our suite of energy transition offerings and positions us to help clients offset remaining emissions."

Ashley Taylor added, "joining Carnrite gives NETZERO the global reach and resources needed to fully implement our business model and expand our offerings across the Gulf Cooperation Council countries and beyond. Together, we will serve as advisors in the voluntary carbon markets, while exploring whether there is an opportunity to identify, screen, aggregate, and secure funding for smaller–scale nature–based and engineered projects."

The NETZERO acquisition is the latest is a series of expansion moves by Carnrite. In 2020, Carnrite opened its first international office in London, United Kingdom and scaled new service offerings focused on Energy Transition and Digital Transformation. Earlier this year, Carnrite opened its office in Abu Dhabi, UAE. NETZERO will become a subsidiary of Carnrite's UAE holding company incorporated in Abu Dhabi Global Markets, which also has a subsidiary onshore Abu Dhabi.

About The Carnrite Group

The Carnrite Group is a management consultancy focused in the energy, industrial, and private equity sectors. From offices in Houston, Texas, London, United Kingdom, and the UAE, Carnrite deploys its unique combination of consulting and industry expertise to projects globally. Areas of expertise include strategy and transaction support, performance improvement, human capital, digital transformation, and the Energy Transition. To further augment its offerings Carnrite has assembled an innovative ecosystem of strategic partners that spans leading technologies and adjacent consulting services. Carnrite recognizes that its clients face difficult business decisions "" its mission is to make it easier for them.


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Nicholas Carnrite Chosen as One of Oil and Gas Investor’s Forty Under 40 http://www.businesstimesoman.com/nicholas-carnrite-chosen-as-one-of-oil-and-gas-investors-forty-under-40/ http://www.businesstimesoman.com/nicholas-carnrite-chosen-as-one-of-oil-and-gas-investors-forty-under-40/#respond Thu, 21 Oct 2021 09:18:00 +0000 http://www.businesstimesoman.com/?p=306097 ABU DHABI, United Arab Emirates, Oct. 21, 2021 (GLOBE NEWSWIRE) — Nicholas (Nick) Carnrite, Partner and Managing Director of The Carnrite Group, was chosen as one of Hart Energy's Oil and Gas Investor Forty Under 40. The first honorees were recognized in 2016, and since then, Oil and Gas Investor annually recognizes "role models in the industry that demonstrate entrepreneurial spirit, creative problem solving, leadership and community involvement." Qualification for the prestigious designation is based on proven and/or potential leadership, overall contributions, and positive impact.

Nick was nominated by his peers and colleagues in addition to past and present clients. The most common accolades he received are related to his tireless pursuit of improvement for his clients, the Carnrite team, and himself. John Hageman, CLO and Partner at The Carnrite Group had this to say about Nick: "As a colleague, Nick is constantly encouraging the team to think outside the box and approach each task with humility and confidence. Nick places a tremendous amount of value on delivering implementable solutions because Carnrite only wins when our clients win."

Since joining the company in 2011, Nick has led and supported consulting projects across all segments of the energy value chain. In recent years, Nick spearheaded The Carnrite Group's international expansion and creation of new service offerings for clients. While the firm has worked globally for years, Nick relocated to London to establish a full–time international presence anchored by offices in the UK and UAE. Nick also led the internal strategy engagement that resulted in developing Energy Transition and Digital Transformation practices. To augment these offerings, Nick helped build Carnrite's partnership ecosystem, harnessing his personal relationships and carefully vetting potential partners. This expanded "toolbox' of solutions and trusted partners brings additional value to Carnrite's clients around the world.

Al Carnrite, CEO, said, "I'm incredibly proud of Nick both as my son and my colleague. He deserves to be recognized for his efforts. He will continue to grow both personally and professionally, and I have complete confidence in his ability to take The Carnrite Group through its next 30 years and beyond."

About The Carnrite Group

The Carnrite Group ("Carnrite") is a management consultancy focused primarily in the energy, industrial and private equity sectors. From offices in Houston, London, and the UAE, Carnrite deploys its unique combination of consulting and industry expertise to projects globally. Seen as a dedicated, practical business partner with the ability to implement complex change, areas of expertise include strategy and transaction support, business transformation, human capital, the Energy Transition and Digital Transformation. To further augment its offerings Carnrite has assembled an innovative ecosystem of strategic partners that spans leading technologies and adjacent consulting services. Carnrite recognizes that its clients face difficult business decisions "" its mission is to make it easier for them.


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The Carnrite Group Opens Another International Office – This time in the UAE http://www.businesstimesoman.com/the-carnrite-group-opens-another-international-office-this-time-in-the-uae/ http://www.businesstimesoman.com/the-carnrite-group-opens-another-international-office-this-time-in-the-uae/#respond Thu, 22 Jul 2021 08:00:00 +0000 http://www.businesstimesoman.com/?p=306821 DUBAI, United Arab Emirates, July 22, 2021 (GLOBE NEWSWIRE) — The Carnrite Group, a management consulting firm headquartered in Houston, Texas, USA, has opened a new office in the UAE. Located in both Abu Dhabi Global Markets and Abu Dhabi's Al Reem Island, the UAE office enhances Carnrite's offerings for the Gulf Cooperation Council (GCC) region. The expansion reflects Carnrite's commitment to meet client needs and create value despite the remaining logistical and economic challenges of COVID–19.

The UAE office was preceded by Carnrite's expansion into the United Kingdom and Europe, marked by the opening of its London office in 2019. Nick Carnrite, Partner and Head of Europe and Middle East, based in London, commented on the expansion "We are excited to continue growing our team internationally, and thankful for our clients worldwide who trust us to help them with difficult business decisions. We have completed engagements in 26 countries on six continents throughout our history. Establishing a deployment hub in the Middle East was a natural next step in our growth plans."

About The Carnrite Group:

The Carnrite Group ("Carnrite") is a management consultancy focused primarily in the energy, industrial and private equity sectors. From offices in Houston, Texas, London, United Kingdom and the UAE, Carnrite deploys its unique combination of consulting and industry expertise to projects globally. Carnrite is a dedicated, practical business partner with the ability to implement complex change. Areas of expertise include strategy and transaction support, business transformation, human capital, the Energy Transition and Digital Transformation. To further augment its offerings Carnrite has assembled an innovative ecosystem of strategic partners that spans leading technologies and adjacent consulting services. Carnrite recognizes that its clients face difficult business decisions "" its mission is to make it easier for them.


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Carnrite to Moderate Executive Panels at Upcoming Reuters Events http://www.businesstimesoman.com/carnrite-to-moderate-executive-panels-at-upcoming-reuters-events/ http://www.businesstimesoman.com/carnrite-to-moderate-executive-panels-at-upcoming-reuters-events/#respond Mon, 07 Jun 2021 07:33:48 +0000 http://www.businesstimesoman.com/?p=306655 DUBAI, United Arab Emirates, June 07, 2021 (GLOBE NEWSWIRE) — Alan "Al' Carnrite, President & CEO of management consultancy The Carnrite Group, has been tasked with moderating two expert panels at back–to–back Reuters Events in June. The first event is Data–Driven Oil & Gas 2021 (June 14–15), which will be followed by Global Energy Transition (June 21–25).

At the Data Driven Oil & Gas 2021 conference, Carnrite is moderating the panel entitled "Digital Transformation in Action: Upstream Operations." The discussion will be live on June 14th for attendees of the conference. The panelists are top executives from Shell, Eni, ADNOC and OAG Analytics, who will share examples of digital transformation in action and discuss digital strategies in place to reduce cost, lower carbon emissions, improve efficiency and reduce downtime.

For the second conference, Global Energy Transition, Al Carnrite will lead a discussion about the challenges and opportunities facing companies as they navigate the Energy Transition. "Name Your Price" will explore topics such as incentivizing investments required to achieve commitments made in the Paris Agreement, the implications of putting a price on carbon and the potential for global cooperation. Carnrite will facilitate the conversation between leaders from Persefoni, the Energy Transitions Commission and EDP.

When asked about the upcoming conferences, Carnrite said: "I'm excited about the opportunity to moderate these panels. Both subjects are timely and complex, and Reuters Events has done a great job assembling a knowledgeable group of panelists with diverse experiences and perspectives."

About The Carnrite Group

Carnrite is a management consultancy focused primarily on the energy, industrial and private equity sectors. From offices in the USA, UK, and the UAE, Carnrite deploys its unique combination of consulting and industry expertise to projects globally. Carnrite is a dedicated, practical business partner with the ability to implement complex change. Areas of expertise include strategy and transaction support, business transformation, human capital, the Energy Transition and Digital Transformation. To further augment its offerings Carnrite has assembled an innovative ecosystem of strategic partners that spans leading technologies and adjacent consulting services. Carnrite recognises that its clients face difficult business decisions "" its mission is to make it easier for them.


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