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11/11/2011
Centrica Acquires Home Warranty
Centrica's North American subsidiary, Direct Energy, has acquired the Illinois-based home protection plan business Home Warranty of America (HWA) for £30 million in cash.
The acquisition of HWA provides Direct Energy with a national platform to build and grow an extensive protection plan business in the US, offering customers a range of products including heating, air-conditioning, plumbing and electrical cover.
HWA is one of the few providers with the necessary licenses to operate nationwide across the United States. It has over 70,000 customers with high value whole-home warranty plans, a national network of 4,000 contractors, an established national sales force, call centre and information systems, as well as industry-leading service delivery capability.
Last year Direct Energy acquired Clockwork Home Services, making it the leading energy services company in North America, with 3 million customers. The addition of HWA will complement Clockwork's current on-demand business, enhancing its ability to offer protection plan cover to this substantial customer base. It will make Direct Energy the first major provider in North America to offer the dual capability of home energy services and protection plan products, replicating the market-leading model developed by British Gas in the UK.
(CD)
The acquisition of HWA provides Direct Energy with a national platform to build and grow an extensive protection plan business in the US, offering customers a range of products including heating, air-conditioning, plumbing and electrical cover.
HWA is one of the few providers with the necessary licenses to operate nationwide across the United States. It has over 70,000 customers with high value whole-home warranty plans, a national network of 4,000 contractors, an established national sales force, call centre and information systems, as well as industry-leading service delivery capability.
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Last year Direct Energy acquired Clockwork Home Services, making it the leading energy services company in North America, with 3 million customers. The addition of HWA will complement Clockwork's current on-demand business, enhancing its ability to offer protection plan cover to this substantial customer base. It will make Direct Energy the first major provider in North America to offer the dual capability of home energy services and protection plan products, replicating the market-leading model developed by British Gas in the UK.
(CD)
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