AGE Announces Strategic Acquisition

Southern Illinois based Affordable Gas + Electric, LLC (AGE) announced its acquisition of Eagle Energy, LLC (Eagle Energy) of Cincinnati, Ohio in what AGE said it, "expects to be a series of strategic acquisitions for the company."

Eagle Energy currently manages 15 electricity and natural gas governmental aggregation programs as well as an extensive portfolio of commercial and industrial customers in the Duke Energy service territory. AGE currently manages 38 governmental aggregation programs in Western Ohio and 100 similar programs in Illinois. AGE also manages energy procurement and strategy for a broad base of commercial and industrial customers in both states.

"We are very pleased to announce this acquisition of Eagle Energy. Eagle Energy is very well respected, and well positioned in the retail energy marketplace and fits perfectly with our overall growth strategy." said Jeff Haarmann, Managing Partner of AGE. "This acquisition strengthens our position as a leading aggregator and retail energy service provider in Western Ohio. We welcome those communities under Eagle’s management and look forward to delivering even greater value by leveraging our assets and presence to the benefit of both AGE and Eagle’s clients."

Donald Marshall, President of Eagle Energy added, "The combination of the two entities will enhance customer service through a broader array of products and services plus the continued commitment to best customer practices inherent of each company."

Mark Berry, AGE’s Vice President of Governmental Aggregation, is leading the acquisition efforts. Berry commented, "We believe that aggregation is the most effective long-term strategy for residents to obtain favorable rates and services. We will continue to pursue strategic acquisitions and partnerships throughout Ohio, providing additional scale and leverage for our communities."

Eagle Energy was founded in 2001 by Donald Marshall, a former Vice President of The Cincinnati Gas & Electric. In his capacity at CG&E, Marshall was responsible for rate and regulatory matters in three states as well as federal rate matters. Marshall will remain with AGE in a consultative role.