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 January 14, 2016 - 2:48 PM EST
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GDF SUEZ Energy Resources to Acquire Guttman Energy Customer Portfolio

By a News Reporter-Staff News Editor at Marketing Weekly News -- GDF SUEZ Energy Resources NA, Inc. - the third-largest non-residential electricity provider in the

U.S.
- and Guttman Energy Inc. announced that they have entered into an agreement under which GDF SUEZ Energy Resources will acquire Guttman Energy's power customers. This move further reinforces GDF SUEZ Energy Resources' commitment to customers in
Ohio
and
Pennsylvania
and follows through on a strategic growth objective in those states.

https://photos.prnewswire.com/prnvar/20160107/320262LOGO

"GDF SUEZ Energy Resources has been in business since 2002, and since opening our doors, we have taken great pride in building our business 100 percent organically," stated Graham Leith, VP of Sales. "Now - as one of the largest commercial and industrial electricity suppliers in the nation - we are shifting our focus to bring our customer service, risk management capabilities, and products and services to a broader range of customers."

Guttman Energy is one of the largest privately held organizations in

Pennsylvania
, marketing refined petroleum products in 16 states and providing natural gas and electricity to commercial and industrial customers in
Ohio
and
Pennsylvania
. Guttman Energy entered the retail natural gas and electricity market in 2013 and has grown considerably since then, establishing a reputation for building and sustaining long-term customer and partner relationships through transparency, competitive pricing, and ease of doing business.

Mike Senff, President of Guttman Energy, commented, "Through the efforts of a very dedicated and talented team, we've enjoyed much success in the sale of retail electricity. However, we've decided to redeploy capital into assets that are more closely related to our core operations, which continues to include natural gas marketing. We're confident that GDF SUEZ Energy Resources can continue to deliver on the commitments we've made to both customers and the broker community. We look forward to working closely together on a smooth transition for our power customers."

Leith added, "The transaction is a fivefold increase in the number of customers we serve in

Ohio
and
Pennsylvania
. GDF SUEZ Energy Resources will honor each and every customer and broker contract that Guttman Energy has in place. Guttman Energy and GDF SUEZ Energy Resources will work closely together to ensure the transition is as seamless as possible."

The transaction is expected to close by the end of February.

Keywords for this news article include: Marketing, Oil & Gas, Advertising, Natural Gas, GDF Suez Energy Resources.

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Source: Equities.com News (January 14, 2016 - 2:48 PM EST)

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