Startex Power is one of the fastest and largest privately held electricity companies in Texas. It is no wonder that Constellation Energy has decided to pay 142 million in cash to purchase Startex.
With over 170,000 Texas electricity customers Constellation is buying brand and customer base that took many years to build.
My question is if Startex was in
any kind of trouble that caused them to go out looking for buyers?
Constellation NewEnergy is also planning to buy MXEnergy. I remember awhile back reading some rather interesting comments about MXEnergy.
There are some disgruntled customers and sales associates posting some pretty bad stuff about MX Energy and divulging things that seem like they should be kept secret.
I wonder if MXEnergy is in some type of hard position as well that caused them to also look for a buyer?
They may not be in any trouble at all but the number just looks off to me mainly because of the many buyouts they have done themselves.
It seems that MX Energy has paid a lot of money buying up energy companies of their own throughout the country. Considering MX is being bought for only 172 million I wonder if the constant buyouts were worth it.
Overall I see the Startex buyout as a good thing. Constellation is not an under the radar kind of electric company and will have more accountability they must adhere to simply because of their size.