ACHRNEWS

Direct Energy Acquires BASE Controls

November 12, 2004
TORONTO - Direct Energy Business Services is paying $14.2 million in cash to acquire BASE Controls Ltd., an automation and controls firm serving commercial, institutional, and industrial customers in Ontario and Quebec.

Privately owned BASE of Ottawa helps commercial customers manage their heating and cooling needs, including energy management.

"The BASE Controls acquisition will boost our market share in our core Ontario market and improve our energy and services offering to commercial customers across North America," said Deryk King, chairman and CEO of Direct Energy.

According to the company, the acquisition increases Direct Energy's share of the automation and controls market in Ontario to almost 13 percent and allows it to build its operation in Montreal.

Publication date: 11/15/2004