Spark Energy Announces Acquisition of Mass Market Customer Book
October 22, 2018 Email This Story Copyright 2010-17 EnergyChoiceMatters.com
Reporting by Paul Ring • email@example.com
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Spark Energy, Inc. ("Spark" or the "Company") today announced that the Company has signed a definitive agreement to acquire approximately 60,000 residential RCEs from a retail energy provider in the Mid-Atlantic and Midwest regions.
"This tuck-in acquisition is a perfect example of the types of transactions we continue to pursue," said Nathan Kroeker, Spark’s President and Chief Executive Officer. "The transaction represents excellent value and we expect it to be accretive to Adjusted EBITDA in the fourth quarter of this fiscal year. We believe this acquisition, along with our recent organic sales activity and the consolidation of our brands onto more efficient, cost-effective platforms will drive long-term, sustainable growth and value for shareholders."