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Direct Energy Closes Purchase Of AWHR For $30 Mln

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Direct Energy, one of North America's largest competitive energy and energy-related services companies, said it has closed the purchase of AWHR from MWHR, a U.S. based investment entity, for $30 million in cash plus working capital.

The company said that this deal provides Direct Energy Services with an expanded product range and the opportunity to grow its customer base further in the U.S. - offering water heater and HVAC rental and leasing alongside heating, air conditioning, plumbing and electrical services across its growing North American franchise business.

Direct Energy noted that AWHR is the largest independent water heater rental business in the U.S. and provides rentals, as well as related repair and maintenance services, to 80,000 residential customers located principally in the Midwest, Florida and U.S. Northeast.

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