M&A Deal Summary

Priority Power Acquires Affordable Gas & Electric - Energy Procurement and Solar Development Business

On August 23, 2022, Priority Power acquired energy services and equipment company Affordable Gas & Electric - Energy Procurement and Solar Development Business from Affordable Gas & Electric

Acquisition Highlights
  • This is Priority Power’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Priority Power’s 4th transaction in the United States.
  • This is Priority Power’s 2nd transaction in Illinois.

M&A Deal Summary

Date 2022-08-23
Target Affordable Gas & Electric - Energy Procurement and Solar Development Business
Sector Energy Services and Equipment
Buyer(s) Priority Power
Sellers(s) Affordable Gas & Electric
Deal Type Divestiture

Target

Affordable Gas & Electric - Energy Procurement and Solar Development Business

Mt Vernon, Illinois, United States
Affordable Gas & Electric Co.'s Energy Procurement and Solar Development Business provides energy procurement, consulting, and solar development services to hundreds of municipalities, Chambers of Commerce, businesses and industrial clients throughout Illinois and Ohio.

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Buyer(S) 1

Buyer

Priority Power

Arlington, Texas, United States

Category Company
Founded 2001
Sector Business Services
DESCRIPTION

Priority Power is an independent energy management and consulting services firm to large commercial and industrial customers. PPM develops and implement strategies that mitigate risk and overcome ?hallenges associated with managing energy data, supply, demand and delivery infrastructure. Priority Power was founded in 2001 and is based in Arlington, Texas.


DEAL STATS #
Overall 4 of 5
Sector (Energy Services and Equipment) 2 of 2
Type (Divestiture) 1 of 1
State (Illinois) 2 of 2
Country (United States) 4 of 5
Year (2022) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-01 Satori Energy

Chicago, Illinois, United States

Satori Energy is an energy consulting firm that provides industry expertise and service to more than 55,000 industrial, municipal, and residential clients in 25 states and the District of Columbia, Canada, and Mexico. Satori Energy's capabilities span the spectrum of Energy Structuring and Market Intelligence Operations, including energy procurement, market price monitoring, contract administration, review, and negotiation, transaction due diligence, demand-side curtailment program evaluation, energy and invoice auditing, capacity PLC notification, budgeting, and forecasting, and utility account and service setup. Satori Energy was founded in 2003 and is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-18 AB Power Advisors

Austin, Texas, United States

AB Power Advisors is a premier advisory services firm that specializes in delivering customized solutions to the U.S. Power industry. AB Power Advisors is based in Austin, Texas.

Buy -

Seller(S) 1

SELLER

Affordable Gas & Electric

Mt Vernon, Illinois, United States

Category Company
Founded 2012
Sector Energy Services and Equipment
DESCRIPTION

Affordable Gas & Electric (AGE) is a licensed aggregator, broker, and consultant for municipalities, chambers of commerce, associations, school districts, and other groups. AGE has mastered the practice of Wal-Mart-style bulk purchasing power and works on behalf of its various groups, organizations, and residential aggregation programs to secure the lowest rates in the market, for the longest terms available, from well-qualified best-in-class energy suppliers. Affordable Gas & Electric was formed in 2012 and is based in Mt Vernon, Illinois.


DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Illinois) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1