Parent Of Retail Supplier Acquiring Broker

The CHRON Organization, Inc. announced today that the Company has entered into a Term Sheet to acquire NAUP Brokerage, LLC, a company which specializes in the brokering of electricity and natural gas for commercial, industrial, and municipal end-use customers.

As previously reported, CHRON also recently entered into an agreement to acquire Enertrade Electric, LLC, a Texas-based retail electric provider doing business as Shyne Energy.

CHRON Chairman, Byron Young, stated, "This is a monumental acquisition for CHRON because NAUP's services are incredibly complementary to those of our wholly-owned subsidiary, Zen Technologies. This is one of those transactions where the sum of the two parts is far greater than each could ever be individually. It is no doubt a key component for us in terms of being able to drive impressive revenues nationwide," as CHRON highlighted the ability to offer a full suite of services with the acquisition

CHRON believes that with this acquisition, Zen will be able to expand its operation and its service offering, using not only NAUP's expertise as an energy broker, but also its multiple channel sales approach to bring in new customers as it ventures more and more into the commercial services space.

"Zen and NAUP have been collaborating on their product lines and testing mutual service offerings over the past few months towards exploring the potential synergies between the two organizations. As a result, both companies have entered into a term sheet for acquisition and the parties hope that this transaction will officially be effective within the next few weeks," CHRON said