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Majority stake · Closed Jul 2010

Direct Energy completes $183M acquisition of Clockwork Home Services

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Relationship map for Direct Energy completes $183M acquisition of Clockwork Home Servicesparent ofCentrica: Operating CompanyCECentricaClockwork Home Services: FranchisorCHClockwork Home Servic…
FranchisorOperating Company

Parties

Acquirer
Centrica
Operating Company
Target
Clockwork Home Services
Franchisor

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Summary

Direct Energy, a subsidiary of Centrica plc, completed its $183 million acquisition of Clockwork Home Services, forming what is described as North America's largest provider of heating, cooling, plumbing, and electrical services. CEO Jim Abrams continues to lead Clockwork.

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