David C. Wiers, President of Satori Energy, announced today that Satori Energy has acquired a book of electricity and gas contracts from Boston‐based InSource Power.
Wiers commented “We are excited to bring Satori Energy’s highly successful client‐centric approach to another group of customers.” This is the sixth acquisition by Satori Energy over the past two years, which continues Satori’s pattern of targeted growth. Previous acquisitions include: Public Utility Brokers, Goby’s procurement division, Velocity Energy Group, EnergyNext, Inc., and most recently WTX Power. Wiers added, “Satori will continue to grow organically, however, if we are able to create value for additional customers through further mergers or acquisitions, we will certainly evaluate those opportunities. Satori will continue to provide excellent service for the customers acquired from InSource Power.”
Patrick Sella, Founder of InSource Power stated, “InSource Power will continue to operate as it has historically, however we felt it was time to focus on the growth engine of our firm, the LineLoss Pro. This harmonic device will change the way energy is consumed in the U.S. and we look forward to assisting customers with new and innovative energy savings.” The transaction closed in September 2015.
About Satori Energy
Satori Energy was founded in 2003, is headquartered in Chicago, and has evolved with the changing electricity markets over the past 12 years. Currently serving over 50,000 accounts, Satori has continued its mission in serving its clients through strategic energy procurement, risk management, market monitoring services, and overall energy management solutions for clients in deregulated markets nationwide. For additional information, please visit www.satorienergy.com.