Premier Holding Corp. Makes Move to Become LSE By Buying 85% Stake in Retail Supplier

Premier Holding Corp. is making its anticipated move to become a load serving entity in the retail market by buying an 85% stake in a retail supplier.

Specifically, Premier Holding Corporation is to purchase 85% of the direct membership interests in retail supplier Lexington Power and Light, LLC, according to an application at FERC.

Premier Holding Corp. is the majority owner of broker The Power Company, and previously announced an intention to become or acquire a load-serving retail supplier. Premier Holding Corp. is also the sole owner of Energy Efficiency Experts (E3), which is an energy service company based in Chicago, Illinois that provides energy efficiency products and services.

Lexington Power and Light, LLC is currently wholly owned by two individuals, Debra Sanabria and Anthony Manganello. Private individuals will continue to collectively own 15% of the membership interests in Lexington Power and Light after the transaction, but under the transaction Premier Holding Corp. will also acquire an option to purchase the remaining 15% of Lexington Power and Light's equity from the current owners.