TORONTO — Reliance Comfort Limited Partnership (Reliance Home Comfort) has entered into an agreement to purchase the shares of National Energy Corp. (which operates under the name National Home Services) for $505 million from Just Energy Group Inc., subject to the approval of the federal Competition Bureau.
Reliance Home Comfort sells and rents HVAC equipment, primarily in Ontario and western Canada. National Home Services will complement Reliance’s existing portfolio while creating opportunities for Reliance to strengthen its customer service offering and expand products offered to National’s current customers and potential new customers across a wider Canadian geographic footprint.
National Home Services has a customer portfolio primarily based in Ontario and Quebec with a strong distributor presence. Following closing of the transaction, Reliance said it will continue to develop this sales network to drive growth in an increasingly competitive and evolving marketplace.
Sean O'Brien, Reliance’s president and CEO, said, “This is good news for consumers. This merger will create a more competitive business that allows us to expand our product offering to new customers, continue to build our culture of excellence, and strengthen our customer service especially in the GTA and Quebec with National’s complementary portfolio.”
Just Energy co-CEO, Deb Merril, said, “We’ve found the perfect partner to take care of the home service needs of our customers. Reliance’s expertise will ensure that our customers get the excellent service and support that they’ve come to expect.”
For more information, visit www.reliancehomecomfort.com.
Publication date: 6/16/2014