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Genie Retail Energy Reports Purchase Price For Acquisition of Town Square Energy
Genie Retail Energy announced that on November 2 it closed on its acquisition of Retail Energy Holdings, LLC (REH), the owner of the Town Square Energy retail suppliers, for $9.5 million in cash plus working capital.
Genie Retail Energy's acquisition of the Town Square Energy retail suppliers had been first reported by EnergyChoiceMatters.com in July
Through the Town Square Energy companies, REH serves approximately 47,000 electricity residential customer equivalents (RCEs) in eight states
REH's licenses and customer base expands Genie Retail Energy's geographic footprint to four new states -- New Hampshire, Rhode Island, Massachusetts and Connecticut -- and provides additional electricity customers in New Jersey, Maryland, Ohio and Pennsylvania.
REH will be operated as a wholly owned subsidiary utilizing the Town Square Energy brand.
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November 3, 2016
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Copyright 2010-16 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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