M&A Deal Summary

Direct Energy Acquires Airco Mechanical

On July 23, 2008, Direct Energy acquired electrical equipment company Airco Mechanical

Acquisition Highlights
  • This is Direct Energy’s 1st transaction in the Electrical Equipment sector.
  • This is Direct Energy’s 3rd transaction in the United States.
  • This is Direct Energy’s 1st transaction in Texas.

M&A Deal Summary
Date 2008-07-23
Target Airco Mechanical
Sector Electrical Equipment
Buyer(s) Direct Energy
Deal Type Add-on Acquisition

Target

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

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Buyer(S) 1

Buyer

Direct Energy

Houston, Texas, United States
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 3 of 15
Sector (Electrical Equipment) 1 of 1
Type (Add-on Acquisition) 2 of 7
State (Texas) 1 of 3
Country (United States) 3 of 13
Year (2008) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-02 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.

Buy $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-06-10 Clockwork Home Services

Sarasota, Florida, United States

Clockwork Home Services, Inc. delivers critical home services through three leading plumbing, electrical, and heating, ventilation, and air-conditioning (“HVAC”) providers across the United States. Its household-name brands - Benjamin Franklin Plumbing® (“Benjamin Franklin”), Mister Sparky® electric, and One Hour Heating & Air Conditioning® (“One Hour”) - are all rated among the best-in-class in their respective categories.

Buy $183M
Mergr

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