IGS Energy announced it has signed an agreement to acquire Just Energy, a move that will create one of the largest energy retailers in North America. The combined company will serve 7.5 million residential customer equivalents (RCEs), positioning it for continued growth across deregulated energy markets in both the U.S. and Canada.
The acquisition will bring together 2,250 employees and expand IGS Energy’s presence in key energy markets. Just Energy will continue to operate independently under its existing brands and maintain its proven operating model. This strategic deal offers both companies substantial opportunities to use their strengths in expanding customer offerings.
“We are thrilled to welcome Just Energy to the IGS Energy family,” said Scott White, president and CEO of IGS Energy. “Just Energy’s highly successful origination channels, marquee retail relationships, and deep industry expertise are complementary to our current capabilities and open new opportunities for growth, particularly in Texas.”
Just Energy, headquartered in Houston, Texas, has been a leader in the retail energy industry for over 25 years, operating under four well-established brands (Just Energy, Hudson Energy, Amigo Energy and Tara Energy). The acquisition of Just Energy allows IGS Energy to significantly expand its footprint in the ERCOT (Texas) market, a region of long-standing interest to IGS Energy, while also further strengthening its presence in PJM markets.
Just Energy’s “plug and play platform” will allow the company to operate independently from Day 1. This flexibility reinforces IGS Energy’s commitment to preserving the autonomy of Just Energy’s operations, which have been a key driver of its success.
“Just Energy’s operating model will remain independent as we continue to provide superior service to our current and future customers under their existing brands,” said Michael Carter, CEO of Just Energy. “We are confident that this acquisition will provide new opportunities for our customers, business partners and employees.”
With this acquisition, IGS Energy is poised to lead in the energy retail space in North America, offering services and solutions for both commercial and residential customers across the continent. The companies are excited about the future and look forward to continued success in the years to come.
IGS Energy’s legal advisors in connection with the transaction are Taft Stettinius & Hollister LLP. Wells Fargo led the acquisition financing and served as exclusive financial advisor to IGS Energy. Wells Fargo, Bank of America, The Huntington National Bank and JPMorganChase provided committed financing. Just Energy’s legal advisors in connection with the acquisition are Latham & Watkins LLP. Just Energy’s exclusive financial advisor is PJT Partners.
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