M&A Deal Summary

Enercare Acquires Direct Energy - Home Services Business

On July 25, 2014, Enercare acquired business services company Direct Energy - Home Services Business from Direct Energy for 550M CAD

Acquisition Highlights
  • This is Enercare’s 1st transaction in the Business Services sector.
  • This is Enercare’s 0th largest (disclosed) transaction.
  • This is Enercare’s 2nd transaction in Canada.
  • This is Enercare’s 2nd transaction in Ontario.

M&A Deal Summary
Date 2014-07-25
Target Direct Energy - Home Services Business
Sector Business Services
Buyer(s) Enercare
Sellers(s) Direct Energy
Deal Type Divestiture
Deal Value 550M CAD

Target

Direct Energy - Home Services Business

Ontario, Canada
Direct Energy - Home Services Business currently has nearly 1.9 million home services contracts in Ontario, to provide a range of plumbing, heating, ventilation, air conditioning and other related services.

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Buyer(S) 1

Buyer

Enercare

Toronto, Ontario, Canada
Category Company
Founded 2002
Sector Electrical Equipment
Employees4,259
Revenue 1.3B CAD (2017)
DESCRIPTION

Enercare, Inc. is a provider of home and commercial services and energy solutions. Enercare provides water heaters, furnaces, air conditioners and other HVAC rental products, plumbing services, protection plans, and related services to more than 1.2 million residential and commercial customers. Enercare Inc. was founded in 2002 and is headquartered in Markham, Canada.

DEAL STATS #
Overall 2 of 4
Sector (Business Services) 1 of 2
Type (Divestiture) 1 of 1
State (Ontario) 2 of 3
Country (Canada) 2 of 3
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-03 Enbridge Electric Connections

Toronto, Ontario, Canada

Enbridge Electric Connections, Inc. is principally engaged in the provision of equipment and services under long-term contracts with customers to allow "smart" sub-metering and remote measurement of electricity and water in multi-unit condominium complexes and apartment buildings in Ontario.

Buy $24M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-07 Service Experts

Richardson, Texas, United States

Service Experts LLC is a provider of HVAC services, including inspections, maintenance, sales and equipment installation.

Buy $341M

Seller(S) 1

SELLER

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 1 of 3
Sector (Business Services) 1 of 2
Type (Divestiture) 1 of 3
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-01 Hess Energy Marketing Business

United States

The Energy Marketing business supplies natural gas and electricity to 23,000 commercial, industrial and small business customers in the eastern half of the United States.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-29 Astrum Solar

Annapolis Junction, Maryland, United States

Astrum Solar, Inc. is a national full-service residential solar provider, serving homeowners and small business in Connecticut, Delaware, New Hampshire, Maryland, Massachusetts, New Jersey, New York, Ohio, Pennsylvania, Virginia, Washington, DC, West Virginia, California, and Arizona.

Buy -
Mergr

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