HomeNovember 3, 2022
Texas Broker Seeking To Sell Customer Book
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Enerex said that Texas-based retail energy broker Stellar Energy Solutions is seeking to recapitalize its business and is exploring a potential sale of its entire current book of business/contracts in an all-cash transaction
Most of Stellar's clients are located in the Corpus Christi, Texas South Texas area
The book, which consists of C&I customers, is said to have a 75% renewal rate annually
Enerex said that there is interest from Stellar's owner, Tim Clark, in hearing options for Clark to continue servicing clients from a relationship standpoint, through a working arrangement for future renewals, if the acquiring partner desires that service
Stellar Energy Solutions is a client of Enerex for various services and approached Enerex concerning the recapitalization
According to teaser information shared with prospective bidders, bids are due Nov. 18, but interested bidders are encouraged to confirm if there has been any change in date
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