Broker Owned By Retail Energy Holding Company Seeking Strategic Partnerships, May Include Acquisitions Of Books

Diversegy, LLC, a commercial energy advisory firm and subsidiary of Genie Energy Ltd., today announced that it is, "seeking strategic partnerships within the commercial energy brokerage industry."

"Brokers and other service providers seeking resources and tools to accelerate the growth of their operations, sell a book of business or extract equity from their businesses can leverage Diversegy's infrastructure and presence," Diversegy said

"The commercial energy brokerage market is highly fragmented and consolidation is occurring throughout the industry. Small to mid-sized independent brokers can succeed in this environment by partnering with Diversegy to access our back-office capabilities, obtain working capital, and leverage the backing of a respected publicly traded company," said Michael Stein, Genie Energy's CEO.

Diversegy offers a range of energy advisory services including electricity and natural gas procurement, solar energy generation, high efficiency lighting, and consumption management solutions

"Many small to medium-sized energy brokers have respectable books of business, but still have a difficult time overcoming cash flow and time management constraints. Others may simply be looking to retire," said Sara Schwandt, Diversegy's General Manager. "In addition, with more suppliers demanding higher deal flow to continue servicing smaller shops, partnering with Diversegy can provide brokers with additional working capital and allow them to focus on growth opportunities while Diversegy's robust back office support and systems handle some of their routine administrative operations."