Energy Conservation Company Will Be Sold

American Energy Savings, a Northridge energy conservation firm, has agreed to be acquired by a Newport Beach holding company for about $2 million in cash and stock.

American Energy Savings, founded in 1976, specializes in studies for big energy users such as hospitals. The company says it expects sales of about $4 million this year.

Ven-Cap moved from Vancouver, Wash., to Newport Beach in January.