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Direct Energy Acquires AWHR to Expand Integrated Service Offerings

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Following our recent announcements about the closing of the Bounce Energy acquisition and agreement to acquire Hess Energy Marketing, we are excited to announce that Direct Energy has agreed to acquire AWHR, the largest independent water heater rental business in the U.S. for $30 million in cash plus working capital.

AWHR provides rentals, as well as related repair and maintenance services, to 80,000 residential customers located principally in the Midwest, Florida and U.S. Northeast.

This acquisition provides Direct Energy with a unique opportunity to grow our U.S. customer base through our existing home services operations and expertise in water heater rental services. It also allows us to deliver against our parent company Centrica’s strategy and commitment to grow our operations in North America.

Direct Energy is a leading provider of water heater rental services in Ontario, Canada, with 1.1 million customers. We are excited to add AWHR’s capabilities to our already broad suite of home services and solutions in an ongoing effort to lead our industry with competitive and compelling services products.

The transaction is expected to close this year.

Posted: September 09, 2013