HVAC Breaking News

Oct. 4, 2004: Direct Energy To Acquire Residential Services Group

October 4, 2004
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STAMFORD, Conn. - Direct Energy announced that it has agreed to acquire Residential Services Group (RSG), a U.S.-based home services business and a leading independent provider of HVAC and plumbing installation and repair/replacement services to homebuilders and homeowners.

"This acquisition will represent the next step in our strategy to be the preferred provider of energy and services to households within our core markets in the United States," said Lois Hedg-peth, president, U.S. Operations, Direct Energy. "RSG will provide us with a platform from which to offer value to our customers by developing innovative product and service bundles that help take the hassle out of owning and maintaining a home."

RSG, headquartered in Dayton, Ohio, is one of the nation's largest providers of HVAC and plumbing services to the residential and light commercial markets. RSG installs HVAC and plumbing systems in new homes as a subcontractor to homebuilders, and provides maintenance and replacement services to individual homeowners. The privately owned company operates through 27 locations in 17 metropolitan areas in 12 states.

The transaction is expected to close in the fourth quarter of 2004.

Direct Energy, part of the Centrica group of companies, is one of the largest multi-state providers of deregulated retail energy services. The Centrica group of companies is a leading global provider of energy and other services. For more information, visit www.directenergy.com or www.centrica.com.

Publication date: 10/04/2004

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