Premier Holding Corp. Acquires Retail Supplier

Premier Holding Corporation announced that it has completed the terms of an LOI to purchase a FERC-licensed supplier of deregulated energy from WWCD, an Illinois LLC.

"The terms of the agreement were fulfilled on May 6th, and after final notifications and filings with regulatory agencies are complete, further details will be announced," Premier Holding Corp. said

As previously reported by EnergyChoiceMatters.com, WWCD, LLC had purchased American Illuminating Company, a retail supplier licensed in Illinois but which had not yet commenced serving customers

Premier Holding Corp. had announced the LOI earlier this year. Premier Holding Corp. currently engages in brokering and the offering of energy efficiency services, and had entered a prior transaction to acquire a retail supplier

Premier Holding Corp. said in a release that, "The newly acquired supplier puts the company in a position to grow top line revenues 8 - 10 times higher over the next 18 to 24 months as well as increasing profits just by the integration of its current business of reselling or brokering power. Now the company will capture additional profits generated by buying power wholesale and selling at retail through this supplier. This growth does not include the recruitment of outside resellers that we anticipate will sell for the supplier as well. We believe we can provide services beyond the scope of many other suppliers by allowing them access to ESP (Energy Services Portal) which provides an end to end system for selling, tracking and accounting. This proprietary sales portal will streamline sales efforts, enforce compliance, and increase productivity."

Premier Holding Corp. President and CEO Randall Letcavage was quoted as stating in a release that, "This transaction indicates proof of fulfillment of the corporate mission and strategic plan to provide 'everything energy' to our nationwide clientele. Each customer we acquire adds approximately $500 in enterprise value to the company. We have sold nearly 200,000 customers in recent years through our subsidiaries and with our current marketing machine in place, it is not unreasonable to expect that we can provide energy to 100,000 or more customers over the next 18 months, which could increase our enterprise value by $50,000,000 or more. The completion of this major milestone serves as the 'anchor' for PRHL's business plan to increase revenue and generate profits from all of its various subsidiaries by offering and integrating its entire suite of products and services to its ever expanding database of satisfied customers."

"The company expects to use this acquisition as a platform to expand operations and open additional corporate sales offices to support this supplier in four more states within the next 12 to 18 months. These are in addition to existing resellers it expects to recruit," Premier Holding Corp. said in a release