ENGIE Resources Acquires Plymouth Rock Energy

Source Press Release
Company ENGIE 
Tags Corporate Deals, Deals, Refining & Marketing Activities
Date December 19, 2018

ENGIE Resources today announced the acquisition of Plymouth Rock Energy based in Woodmere, NY. The transaction, which has received approval from the Federal Energy Regulatory Commission and became effective December 19, 2018, will enable  ENGIE Resources to expand its natural gas and electricity presence in seven states and by more than 20,000 customers.

Plymouth Rock and its customer base will benefit from joining a global energy leader with scale and financial backing to support credit and risk management.  Equally important, Plymouth Rock customers will have direct access to ENGIE's growing portfolio of energy products and services.

The combined organization should benefit from complementary products, geographies, and systems in addition to shared information technology and billing and service economies.

Plymouth Rock presented an opportunity for ENGIE Resources to more than triple the number of natural gas utility service territories for its operations and to dive deeper into several key existing electricity markets. "We are very happy with the purchase, and the fine job done by Plymouth staff to build this portfolio of customers," said Graham Leith, Senior Vice President, Head of Retail,  ENGIE Resources. "Plymouth's customers will join our portfolio of over 25,000 commercial and industrial power and natural gas customers, expanding our market share in metropolitan New York."

Plymouth Rock follows other recent acquisitions by ENGIE in North America, including Donnelly Mechanical Corporation (New York, NY), Unity International Group (Flushing, NY), and TryState Mechanical Inc. (New York, NY), further strengthening  ENGIE's platform to deliver energy supply, energy optimization, and building modernization services that help commercial, industrial, and public sector customers achieve value.

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