EnerCare completed the acquisition of Ontario home and small commercial services business of Direct Energy for $550m.

EnerCare, a Canadian company specializing in home heating, cooling, and electrical solutions, completed the acquisition of Ontario home and small commercial services business of Direct Energy, a North America-based energy provider specializing in home energy solutions, for $550m. "With our strong financial track record and solid balance sheet, the timing is now right to reunite the two businesses. Operationally, this acquisition is an excellent fit. In one step it creates a winning platform for our customers, employees, investors and other stakeholders. The transaction, which is expected to be immediately accretive to pro forma Distributable Cash per common share1, enhances EnerCare's ability to continue to grow the business and return capital to shareholders," John Macdonald, EnerCare President and CEO.