SARASOTA, FL -Direct Energy, one of North America's leading integrated energy and services companies and a subsidiary of Centrica plc, has completed its acquisition of the assets and business of Clockwork Home Services, Inc. Following approval by Clockwork's shareholders and receipt of US regulatory approval, the combined Direct Energy Services and Clockwork Home Services business now becomes North America's largest provider of heating and cooling, plumbing and electrical services.
"We are delighted to complete this transaction and launch the new combined entity. With our expanded geographical coverage, our shared expertise and our vision for growth, we will reshape the home services market through our five million customer relationships and significant purchasing power," said Eddy Collier, President, Direct Energy Services. "Direct Energy's home services industry experience and financial strength will enable us to accelerate the growth of Clockwork's businesses including the One Hour Heating and Air Conditioning, Benjamin Franklin Plumbing and Mister Sparky franchises and owned-operations as well as Clockwork's affinity clients."
Jim Abrams will continue as CEO of Clockwork Home Services from its Sarasota home office.
The combined organization will operate in almost every US state and Canadian province providing repair and maintenance services to customers' heating and cooling systems as well as energy efficiency related services to both homes and businesses.
About Clockwork Home Services
Clockwork Home Services, Inc. is dedicated to improving the operations, efficiency, customer service and profitability of contractors in the home services industry in North America through affinity group membership and nationally branded franchises. Its companies include Mister Sparky® Franchising, Benjamin Franklin Plumbing® Franchising, One Hour Air Conditioning & Heating® Franchising, BuyMax®, Plumbers' Success International®, Electricians' Success International®, AirTime 500TM, Roofers' Success International®, Success Academy®, AirTime CanadaTM ULC, SuccessWare, Inc.® and company-owned One Hour® operations in California, Colorado, Florida, Georgia, Indiana, Minnesota, Nevada, Ohio, Oklahoma, South Carolina, Tennessee and throughout Canada; company-owned Benjamin Franklin Plumbing® operations in Colorado, Indiana, and Minnesota; and company-owned Mister Sparky® operations in Colorado, Georgia, Indiana, Nevada, and Minnesota. For the third consecutive year, in 2009, Clockwork was ranked on Inc. magazine's Inc. 5,000® list of fastest-growing private companies in the United States. For more information, visit http://www.clockworkhomeservices.com.
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 20 states plus DC and 10 provinces in Canada. To learn more about Direct Energy, please visit www.directenergy.com.
For additional information, please contact:
joshua.orzech at directenergy.com
Notes to Editors:
1. The North American home services market is defined as the residential heating and cooling, electrical service and plumbing industries.