July 23, 2008
Direct Energy Acquires Airco Mechanical of Austin Texas
Direct Energy, one of North America's leading energy and energy-related services companies, announced today that it has acquired the assets of Austin-based Airco Mechanical, Ltd. The acquisition expands Direct Energy's Texas operations by adding light commercial expertise to its existing residential and new home construction capabilities. Airco Mechanical's management team remains in place and will continue to operate under the Airco brand.
"Airco is a perfect complement to Direct Energy's existing Texas businesses. Direct Energy is now able to offer a full complement of energy and energy-related products and services in the light commercial sector," said Eric Salzer, Senior Vice President, US Home Services, Direct Energy. "David Schimsk and his team have assembled a tremendous group of professionals. We are excited to have them as part of the Direct Energy family."
Airco Mechanical was founded in 1984 by Jan and David Schimsk and has operated in Austin and its surrounding area for over 25 years. Airco Mechanical's operations include heating, ventilation and air conditioning (HVAC) and plumbing for the commercial new construction and renovation markets as well as commercial and residential service and replacement business.
"As a part of Direct Energy, Airco will be able to offer its customers a broader range of products and services. Moreover, we will now have the capital to leverage our experience to expand operations beyond our current base," added David Schimsk, President, Airco Mechanical.
Direct Energy currently employs over 1,200 people and provides approximately one million customers across Texas with energy or energy-related products and services. In Texas, Direct Energy provides services to homeowners under the following brands: Hallmark Air Conditioning and Heating, Airtron Heating and Air Conditioning, Jarrell Plumbing, C.A. Woods, and Wendland Air Conditioning and Heating. In addition, through its Direct Energy, CPL Retail Energy and WTU Retail Energy brands, the Company is the third largest retail energy provider in Texas.
About Direct Energy
Direct Energy is one of North America's largest energy and energy-related services providers with over 5 million residential and commercial customer relationships. Direct Energy provides customers with choice and support in managing their energy costs through a portfolio of innovative products and services. A subsidiary of Centrica plc (LSE: CNA), one of the world's leading integrated energy companies, Direct Energy operates in 22 states plus DC and 10 provinces in Canada. To learn more about Direct Energy, visit www.directenergy.com.
Contacts: Direct Energy Joshua Orzech (416) 590-3306 Email: joshua.orzech at directenergy.com Website: www.directenergy.com
SOURCE: Direct Energy