Energy Choice
                            

Matters

Spark Energy Affiliate To Acquire Customer Book Spanning 20 Markets

November 25, 2015

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Copyright 2010-15 EnergyChoiceMatters.com
Reporting by Karen Abbott • kabbott@energychoicematters.com

National Gas & Electric, LLC, an affiliate of Spark Energy, Inc., has entered into agreements for the purchase of a Northeast retail customer base from an undisclosed seller operating in over twenty gas and power markets.

National Gas & Electric, LLC is wholly owned by W. Keith Maxwell III, who is also the Founder and Chairman of Spark Energy. National Gas & Electric, "is working alongside Spark to develop a strategy that maximizes Spark's ability to aggressively pursue additional growth through M&A."

W. Keith Maxwell III, who also serves as CEO of National Gas & Electric, commented, "We are excited with our purchase of the Northeast customer base. We have a strong working relationship with this seller and are confident that they will continue to be successful in their growth strategy. This type of parent-level acquisition is a second for our family of retail companies, and we believe there are many similar acquisitions to be executed on in the space."

While National Gas & Electric, LLC intends to offer these customers to its affiliate Spark Energy, Inc., there is no assurance that such a transaction will be completed as it remains subject to negotiation and necessary board approvals.

The recent creation of National Gas & Electric, LLC was first reported by EnergyChoiceMatters.com. National Gas & Electric recently applied for a New York ESCO license

Spark Energy, Inc., successfully closed on its first "dropdown acquisition" from the parent-level (in this case, NuDevco Partners Holdings) on July 31, 2015, with the Oasis Energy acquisition

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