STAMFORD, Conn. - Direct Energy announced it has agreed to acquire Residential Services Group (RSG), a U.S.-based home services business and leading independent provider of HVAC and plumbing installation and repair/replacement services to homebuilders and homeowners.

"This acquisition will represent the next step in our strategy to be the preferred provider of energy and services to households within our core markets in the United States," said Lois Hedg-peth, president, U.S. Operations, Direct Energy. "RSG will provide us with a platform from which to offer value to our customers by developing innovative product and service bundles that help take the hassle out of owning and maintaining a home."

RSG, headquartered in Dayton, Ohio, is one of the nation's largest providers of HVAC and plumbing services to the residential and light commercial markets.

The transaction, which is expected to close in the fourth quarter of 2004, is subject to the receipt of Hart Scott Rodino clearance and other customary conditions.

Publication date: 10/18/2004