M&A Deal Summary

NRG Energy Acquires Direct Energy

On July 24, 2020, NRG Energy, Inc. acquired utilities company Direct Energy LP from Centrica Plc for 3.6B USD

Acquisition Highlights
  • This is NRG Energy’s 7th transaction in the Utilities sector.
  • This is NRG Energy’s 2nd largest (disclosed) transaction.
  • This is NRG Energy’s 14th transaction in the United States.
  • This is NRG Energy’s 6th transaction in Texas.

M&A Deal Summary

Date 2020-07-24
Target Direct Energy LP
Sector Utilities
Buyer(s) NRG Energy, Inc.
Sellers(s) Centrica Plc
Deal Type Divestiture
Deal Value 3.6B USD

Target

Direct Energy LP

Houston, Texas, United States
website
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.

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Buyer(S) 1

Buyer

NRG Energy, Inc.

Houston, New Jersey, United States

website


Category Company
Founded 1989
SectorUtilities
Employees6,635
Revenue 27.0B USD (2021)
DESCRIPTION
Entrance to an NRG office in downtown Houston, Texas.
Entrance to an NRG office in downtown Houston, Texas.

NRG is a wholesale power generation company. NRG engages in the ownership, development, construction, and operation of power generation facilities; the transacting in and trading of fuel and transportation services; and the trading of energy, capacity and related products in the US and select international markets. NRG was formed in 1989 and is based in Princeton, New Jersey.


DEAL STATS #
Overall 15 of 15
Sector (Utilities) 7 of 7
Type (Divestiture) 4 of 4
State (Texas) 6 of 6
Country (United States) 14 of 14
Year (2020) 1 of 1
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-16 NRG South Central Generating LLC

Minneapolis, Minnesota, United States

NRG South Central Generating LLC is a provider of 3,555 MW, transmission operations and contracts to provide wholesale power. NRG South Central Generating LLC is based in Minneapolis, Minnesota.

Sell $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-20 NRG Energy - Behind the Meter Solutions

Houston, New Jersey, United States

NRG Energy's Behind the Meter Solutions portfolio includes approximately 15 MWs of commercial and industrial customer & reduce energy costs. NRG Energy's Behind the Meter Solutions is based in Houston, New Jersey.

Sell -

Seller(S) 1

SELLER

Centrica Plc

Windsor, United Kingdom

website


Category Company
Founded 1995
SectorUtilities
Employees19,711
Revenue 12.2B GBP (2020)
DESCRIPTION

Centrica is a utility company that serves customers in the UK, North America, and Norway .Our aim is to meet our customers’ energy needs and deliver long-term value to our shareholders. Centrica was founded in 1995 and is based in Windsor, the United Kingdom.


DEAL STATS #
Overall 2 of 4
Sector (Utilities) 2 of 2
Type (Divestiture) 2 of 3
State (Texas) 1 of 1
Country (United States) 1 of 2
Year (2020) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-29 Minut, Inc.

Malmö, Sweden

Minut, Inc. has developed an intuitive smart home alarm that combines wireless sensor technology with machine learning to monitor the home environment. It also detects any motion or sound within the home and alerts users to threats through instant notifications. Easy to self-install in less than five minutes, the units are already being sold in 60 countries, with particular success in the rental market where owners are looking for peace of mind for their properties.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-23 Io-Tahoe LLC

New York, New York, United States

Io-Tahoe is an Enterprise Data Automation software, harnessing the power of our patented data automation technologies to help organizations empower employees to achieve more. Io-Tahoe was founded in 2017 and is based in New York City.

Sell -