PowerOne Enters Agreement To Acquire Retail Supplier

PowerOne Corporation has entered into a transaction with ResCom Energy LLC to acquire the total equity interest in ResCom

ResCom is a retail supplier licensed to sell electricity in New Jersey, Pennsylvania, Delaware, Ohio, Maryland, and Illinois

PowerOne is an energy broker which, as first reported by RetailEnergyX.com, had said it was pursuing transactions to acquire two retail suppliers.

At present, ResCom is owned 98% by David Cohen and 2% by Nancy Lynn Cohen. David Cohen is the Managing Member of ResCom. Mr. Cohen also holds all of the ownership interests in, and is the President and Managing Member of, American Illuminating Company, LLC, which is licensed as an alternative retail electric supplier in Illinois. Although so licensed in Illinois, American Illuminating Company has no assets other than the Illinois license and has never conducted any business in any jurisdiction