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M&A Deal Summary

Direct Energy Acquires Source Power & Gas

On October 14, 2018, Direct Energy acquired utilities company Source Power & Gas from ERM Power

Acquisition Highlights
  • This is Direct Energy’s 3rd transaction in the Utilities sector.
  • This is Direct Energy’s 13th transaction in the United States.
  • This is Direct Energy’s 3rd transaction in Texas.

M&A Deal Summary
Date 2018-10-14
Target Source Power & Gas
Sector Utilities
Buyer(s) Direct Energy
Sellers(s) ERM Power
Deal Type Divestiture

Target

Source Power & Gas

Sugar Land, Texas, United States
Source Power & Gas LLC is a retail energy provider serving commercial and industrial customers in the ERCOT and PJM ISO markets. With an approximate annual load of 6.5 TWh, Source Power & Gas currently serves 4,000 customers across 16,000 service locations in Texas, Illinois, Ohio, New Jersey, Delaware, Maryland, Pennsylvania and the District of Columbia.

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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 15 of 15
Sector: Utilities M&A 3 of 3
Type: Divestiture M&A Deals 8 of 8
State: Texas M&A 3 of 3
Country: United States M&A 13 of 13
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-12 Panoramic Power

Kfar Sava, Israel

Panoramic Power Ltd. is a cloud based device level energy management solutions provider enables businesses to optimize their energy consumption improve operational efficiency and generate income through load response programs.

Buy $60M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-21 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.

Sell -

Seller(S) 1

SELLER

ERM Power

Brisbane, Australia
Category Company
Founded 1980
Sector Utilities
Revenue 2.3B AUD (2015)
DESCRIPTION

ERM Power Ltd. is an energy company operating electricity sales and generation businesses. ERM Power was formed in 1980 and is based in Brisbane, Australia.

DEAL STATS #
Overall 1 of 1
Sector: Utilities M&A 1 of 1
Type: Divestiture M&A Deals 1 of 1
State: Texas M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-16 Greensense Pty.

Subiaco, Australia

Greensense Pty. Ltd. is a data analytics and energy and resource management software company. Greensense creates software for building performance, energy and resource consumption and sustainability monitoring for businesses and governments.

Buy -
Mergr

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