MOUNT VERNON, Ill. — Affordable Gas & Electric LLC (AGE) announced its recent acquisition of Eagle Energy LLC.
The acquisition is the first of what southern Illinois-based AGE expects to be a series of strategic acquisitions for the company.
“We are very pleased to announce this acquisition of Eagle Energy. Eagle Energy is very well respected, and well positioned in the retail energy marketplace and fits perfectly with our overall growth strategy,” said Jeff Haarmann, AGE managing partner.
“This acquisition strengthens our position as a leading aggregator and retail energy service provider in Western Ohio,” Haarmann continued. “We welcome those communities under Eagle’s management and look forward to delivering even greater value by leveraging our assets and presence to the benefit of both AGE and Eagle’s clients.”
“The combination of the two entities will enhance customer service through a broader array of products and service,” Donald Marshall, president of Eagle Energy said. “In addition, the two companies will continue their commitment to best customer practices inherent within each company.”
Eagle Energy, of Cincinnati, currently manages 15 electricity and natural gas governmental aggregation programs in the Duke Energy service area. They also have an extensive portfolio of commercial and industrial customers within that service area.
AGE currently manages 38 governmental aggregation programs in Western Ohio. Local communities served include Anna, Ansonia, Belle Center, Bellefontaine, Botkins, Bradford, Covington, DeGraff, Fort Loramie, Greenville, Lockington, Newberry Township (Miami County), Quincy, Sidney, Urbana, Wayne Lakes, West Milton and Russia, among others.
AGE manages 100 similar programs in Illinois. In addition, AGE also manages energy procurement and strategy for a broad base of commercial and industrial customers in both states.
Mark Berry, AGE’s vice president of governmental aggregation, is leading the acquisition efforts.
Berry said, “We believe that aggregation is the most effective long-term strategy for residents to obtain favorable rates and services. We will continue to pursue strategic acquisitions and partnerships throughout Ohio, providing additional scale and leverage for our communities.”
Eagle Energy was founded in 2001 by Donald Marshall, a former vice president of the Cincinnati Gas & Electric Co. In his capacity at CG&E, Marshall was responsible for rate and regulatory matters in three states as well as federal rate matters. Marshall will remain with AGE in a consultative role.
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