HOUSTON, April 19, 2023 /PRNewswire/ — Utility Rescue Holdings, Inc., and Gainline Capital Partners (“Gainline”) today announced that Gainline has purchased a majority interest in Flagship Power, one of the fastest-growing electricity companies in Texas.
Founded by Utility Rescue in 2022, Flagship provides competitive electricity service options for consumers and small businesses in the Texas market. The management team of Flagship will remain in place, and Utility Rescue remains a significant shareholder of the company.
“We see this transaction as providing more fuel to fire the growth of Flagship and Utility Rescue’s other brands,” said Tom Schmidt, CEO of Utility Rescue. “We are excited to see to what heights we can now take the Flagship investment with Gainline’s strength behind the company.”
The partnership is more than just a financial one. “The Utility Rescue white label platform allows partners to generate additional revenue by offering bill negotiation and other services. We are pleased to be launching “Flagship PLUS,” the bill negotiation service that will be offered to Flagship’s electricity customers,” explained Tammi Stroud, Vice President of Business Development for Utility Rescue. “Our partnership with Flagship will generate additional revenue for both companies and will provide enormous value to Flagship’s customers for years to come. The beauty of the partnership for Flagship is that even if customers switch electricity providers in the future, they will remain on the Flagship PLUS service as it continues to save them money on other services like insurance or even rooftop solar.”
Headquartered in Houston, Texas, Utility Rescue Holdings, Inc., www.utilityrescue.com is an integrated financial technology and energy services company dedicated to saving consumers and businesses on their essential monthly services. Founded in 2021, Utility Rescue is the holding company for investments in five fast-moving companies: VIV bill negotiation, Utiliz energy brokerage, Blue Aspen Insurance, Flagship Power and JUICE retail electricity, and The American Solar Company. Our portfolio companies help to reduce our customers’ monthly bills and help manage their energy usage and spend.
Gainline Capital Partners is a private equity firm that invests in profitable, U.S. based middle market companies. The firm focuses on being the first institutional capital and specializes in partnering with management teams to help execute their vision, drive sustainable growth and create long term value. http://www.gainlinecapital.com/
Contact: Rita Karpel
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SOURCE Utility Rescue Holdings
