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Private Equity Firm Buys Controlling Interest In Texas Retail Provider
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Utility Rescue Holdings, Inc., and Gainline Capital Partners today announced that Gainline has purchased a majority interest in Flagship Power, a Texas retail electricity provider
The management team of Flagship will remain in place, and Utility Rescue remains a "significant" shareholder of the company, the companies said
"We see this transaction as providing more fuel to fire the growth of Flagship and Utility Rescue's other brands," said Tom Schmidt, CEO of Utility Rescue. "We are excited to see to what heights we can now take the Flagship investment with Gainline's strength behind the company."
"The Utility Rescue white label platform allows partners to generate additional revenue by offering bill negotiation and other services. We are pleased to be launching 'Flagship PLUS,' the bill negotiation service that will be offered to Flagship's electricity customers," said Tammi Stroud, Vice President of Business Development for Utility Rescue. "Our partnership with Flagship will generate additional revenue for both companies and will provide enormous value to Flagship's customers for years to come. The beauty of the partnership for Flagship is that even if customers switch electricity providers in the future, they will remain on the Flagship PLUS service as it continues to save them money on other services like insurance or even rooftop solar."
Founded in 2021, Utility Rescue is the holding company for investments in companies including: VIV bill negotiation, Utiliz energy brokerage, Blue Aspen Insurance, Flagship Power and JUICE retail electricity, and The American Solar Company.
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April 19, 2023
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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