Finalized Clockwork Acquisition Expected To Change Market
Direct Energy, an integrated energy and services company, and a subsidiary of Centrica plc, has completed its $183 million acquisition of the assets and business of Clockwork Home Services Inc. Following approval by Clockwork’s shareholders and receipt of U.S. regulatory approval, the transaction concluded on July 1. It is estimated by Clockwork officials that the combined sales of Direct Energy and Clockwork will exceed approximately $6 billion.
Jim Abramsremains as CEO of Clockwork Home Services, headquartered in Sarasota, Fla. The combined organization will operate across the United States and Canada, providing repair and maintenance services to customers’ heating and cooling systems as well as energy efficiency related services to both homes and businesses.
As changes occur in the organization, it is expected that new and expanded benefits will offer different opportunities for current and future franchisees and Success Group International members, such as the investment in franchise initiatives, and better pricing and rebates offered to affiliates.
As of yet, franchisees and affiliates are not reporting any major changes in their current markets. For more information, visitwww.clockworkhomeservices.comorwww.directenergy.com.