Direct Energy, one of North America’s largest competitive energy and energy-related services companies, has reached an agreement to acquire Bounce Energy, a privately-held retail electricity provider based in Houston, for $46 million in cash plus additional working capital.
The acquisition of Bounce Energy further strengthens the company’s residential business as the largest energy retailer in North America. Bounce Energy provides full-service electricity to more than 80,000 residential and small business customers in the competitive energy markets of Texas, Pennsylvania and New York.
Direct Energy will look to leverage Bounce Energy’s expertise in digital marketing and best in class e-commerce platform to increase its digital sales and service capabilities and to accelerate customer growth in the United States. This online platform is also expected to reduce significantly Direct Energy’s cost of acquiring new customers.
Bounce Energy, one of the fastest growing deregulated energy companies, was founded in 2008 by CEO Robbie Wright, a veteran e-commerce entrepreneur, and six other founders. The company leads the way in e-commerce, online digital marketing and customer interaction on social media, and was the first electricity company to offer its services through Facebook.
In 2012, Bounce Energy was ranked second in a Texas retail electricity provider customer satisfaction survey by J.D. Power and Associates.