Retail Supplier To Acquire Water Heater Rental and Protection Plan Business

Direct Energy has entered an agreement to acquire all the assets of an appliance rental company based in the Northeast United States for $4.5 million, the company said in a news release

Direct Energy did not identify the acquired company, at the seller's request

The purchase gives Direct Energy approximately 14,000 new home services customers in Massachusetts and New Hampshire, who rent water heaters, have protection plans or rent their heating, ventilation and air conditioning (HVAC) equipment.

Direct Energy expects to finalize the purchase by mid-summer and customers will be notified. No regulatory approvals are required for this transaction.