PowerOne Corporation, which as first reported yesterday has entered negotiations to purchase two established "retail energy providers," has confirmed to RetailEnergyX.com that the companies in question are indeed load serving entities.

PowerOne would not disclose the identities of the providers targeted for acquisition.

As previously reported, PowerOne has described the retail energy providers as having complementary service territories, with significant books of business with a combined top line of nearly $40 million.

PowerOne has said that the acquisitions would provide a significant foothold in key Midwest and Northeast markets.

Tags:
PowerOne Corporation   M&A  

Comment on this story


ADVERTISEMENT
NEW Jobs on RetailEnergyJobs.com
TPV-SALES-EXECUTIVE -- Back Office Provider -- Other
Sr-Market-Risk-Analyst -- Wholesale Supplier/Trader -- New York - New York City Metro
Energy-Regulatory-Specialist -- Other -- Other
More Stories on RetailEnergyX.com:
FT: Mitsubishi-Backed Retail Supplier 'Prepares Bid' For International Retail Supplier With U.S. Arm
Shell Acquiring 250,000 Customers From U.K. Supplier;' Octopus Acquiring 580,000 Customers
UK Retail Supplier With US Affiliate In Talks To Secure 'New Funding'; Wholesale Prices Challenge
NRG To Trim Costs, Reviews Retail Pricing Structure After Direct Energy Acquisition '
PSEG to Acquire 25% Ownership Interest in Ocean Wind