Electrasource Advisors Acquires Energy Broker

Note: This story was first published the evening of Oct. 29 at 7:17 pm with an alert to our email subscribers

Fort Worth-based energy services company Electrasource Advisors announced the acquisition of the assets of NuPower, an energy commodity brokerage based in Houston, Texas.

This is the third such acquisition by Electrasource Advisors in the last 18 months, the company said

"This acquisition of NuPower provides Electrasource with a stronger presence in the Houston region and is aligned with Electasource’s ongoing strategy of expansion and growth through acquisition opportunities within deregulated markets. Both firms will operate under the Electrasource Advisors entity and continue to provide consultation and efficiency services to their customers," the company said

"Tim Rice and his NuPower operation provide an excellent customer base that Electrasource can further extend our quality services to. We see our abilities to provide guaranteed energy savings to select businesses as a significant value add for NuPower’s customers," said Jason Bear, COO of Electrasource Advisors

"The opportunity to align NuPower with the resources Electrasource offers is advantageous to the growth of NuPower. Energy savings along with ancillary products and services offered by Electrasource will benefit our existing customer base and allow NuPower to expand its current business operations throughout Texas," said Tim Rice, President, of NuPower Energy

The transaction was facilitated by Rowan Energy Capital