M&A Deal Summary

Direct Energy Acquires Strategic Energy

On April 2, 2008, Direct Energy acquired energy services and equipment company Strategic Energy from Evergy for 300M USD

Acquisition Highlights
  • This is Direct Energy’s 1st transaction in the Energy Services and Equipment sector.
  • This is Direct Energy’s 2nd largest (disclosed) transaction.
  • This is Direct Energy’s 2nd transaction in the United States.
  • This is Direct Energy’s 1st transaction in New York.

M&A Deal Summary
Date 2008-04-02
Target Strategic Energy
Sector Energy Services and Equipment
Buyer(s) Direct Energy
Sellers(s) Evergy
Deal Type Divestiture
Deal Value 300M USD

Target

Strategic Energy

Tonawanda, New York, United States
Strategic Energy LLC, is a electricity suppliers to the commercial and industrial (C&I) market with over 26,000 customers across 11 states with revenues of some $2 billion and sales of 21TWh.

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Buyer(S) 1

Buyer

Direct Energy

Houston, Texas, United States

website

Category Company
Founded 1997
Sector Utilities
DESCRIPTION

Direct Energy LP is retail provider of electricity, natural gas, and home and business energy-related products and services. Direct Energy was founded in 1997 and is based in Houston, Texas.

DEAL STATS #
Overall 2 of 15
Sector (Energy Services and Equipment) 1 of 4
Type (Divestiture) 1 of 8
State (New York) 1 of 1
Country (United States) 2 of 13
Year (2008) 1 of 2
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-28 Residential Services Group

Dayton, Ohio, United States

Residential Services Group, Inc. specializes in heating, ventilation, air conditioning and plumbing.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-23 Airco Mechanical

Austin, Texas, United States

Airco Mechanical has been the go-to HVAC company servicing residents of Austin, Texas since 1983. Residents have come to trust Airco Mechanical for all of their cooling and heating needs; whether it is air conditioner and heater repair, the installation of a new furnace or heating system or calling an HVAC contractor out to the home for a seasonal AC or heating tune up

Buy -

Seller(S) 1

SELLER

Evergy

Kansas City, Missouri, United States

website

Category Company
Founded 2017
Sector Utilities
Employees4,512
Revenue 5.9B USD (2022)
DESCRIPTION

Evergy is the holding company of Kansas City Power & Light Company and KCP&L Greater Missouri Operations Company, two of the regulated providers of electricity in the Midwest. Kansas City Power & Light Company and KCP&L Greater Missouri Operations Company use KCP&L as a brand name. Evergy was founded in 2017 and is based in Kansas City, Missouri.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-07 Aquila

Kansas City, Montana, United States

Aquila, Inc. is a provider of energy services.

Buy $1.7B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-31 Westar Energy

Topeka, Kansas, United States

Westar Energy, Inc. is an electric utility company. Westar has 7,200 MW of electric generation capacity fueled by coal, uranium, natural gas, wind and landfill gas. Westar Energy was formed in 1924 and is based in Topeka, Kansas.

Buy $12.2B
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