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Texas based Vistra Energy, an integrated energy company agreement to acquire Ambit Energy for $475 million.

Details are provided below:

  • Vistra is one of the largest competitive residential electricity providers in USA
  • Dallas based Ambit serves approximately 1.1 million residential customer equivalents in 17 states of USA.
  • Ambit is the largest energy-focused direct seller in the United States, providing a new complementary sales channel to Vistra after deal.
  • “Ambit is a very attractive standalone retail company and a great match for Vistra’s retail business, given its leading direct selling capability and its proprietary technology platform. Importantly, Ambit’s retail load is nearly two-thirds in the ERCOT market, followed by PJM and the northeast, and this load is 90 percent comprised of residential and small business customers,” said Curt Morgan, Vistra’s president and chief executive officer. “This acquisition offers significant benefits including consequential synergies and a material enhancement of Vistra’s generation to retail load match, with total customers reaching nearly 5 million, and our expected returns from the transaction representing a superior use of capital. Given the attractive EBITDA to free cash flow conversion profile of the business, we expect the transaction to have a minimal impact on Vistra’s credit metrics and our capital allocation plan moving forward.”

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