HomeOctober 5, 2015
Satori Energy Acquires Another Book of Contracts
Copyright 2015 EnergyChoiceMatters.com.
Satori Energy has acquired a book of electricity and gas contracts from Boston-based InSource Power.
The InSource book includes over 350 customer contracts mostly located in the PJM area (OH, PA, NJ, IL).
This is the sixth acquisition by Satori Energy over the past two years. Previous acquisitions include: Public Utility Brokers, Goby’s procurement division, Velocity Energy Group, EnergyNext, Inc., and most recently WTX Power.
David C. Wiers, President of Satori Energy, said, "Satori will continue to grow organically, however, if we are able to create value for additional customers through further mergers or acquisitions, we will certainly evaluate those opportunities."
InSource Power sold the book of electricity procurement contracts to focus on its other business lines, such as various energy saving technology solutions.
The transaction closed in September 2015.
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