U.S. Markets closed
  • S&P 500

    -38.67 (-0.84%)
  • Dow 30

    -59.71 (-0.17%)
  • Nasdaq

    -295.85 (-1.92%)
  • Russell 2000

    -47.02 (-2.13%)
  • Crude Oil

    -0.28 (-0.42%)
  • Gold

    +21.40 (+1.22%)
  • Silver

    +0.25 (+1.12%)

    +0.0012 (+0.1019%)
  • 10-Yr Bond

    -0.1050 (-7.25%)
  • Vix

    +2.72 (+9.73%)

    -0.0067 (-0.5029%)

    -0.4090 (-0.3613%)

    -2,781.29 (-4.92%)
  • CMC Crypto 200

    -74.62 (-5.18%)
  • FTSE 100

    -6.89 (-0.10%)
  • Nikkei 225

    +276.20 (+1.00%)

Premier Holding Corp. Finalizes Acquisition of Energy Supplier Lexington Power and Light, LLC of New York

Milestone Event Follows Announcement Last Week Retaining Maxim Group LLC

TUSTIN, CA / ACCESSWIRE / Oct 27, 2014 / Premier Holding Corporation (PRHL), an energy seller and reseller in deregulated markets, announces that it has closed the acquisition of 85% of Lexington Power and Light, LLC (LP&L) and will now operate as a supplier of energy (electricity and natural gas) in deregulated markets. Last week, PRHL retained Maxim Group LLC to provide strategic corporate finance services, investment banking services, and assist in strategies for maximizing shareholder value.

The Federal Energy Regulatory Commission (FERC) has already authorized the transaction which cleared the way for completion of the acquisition. The purchase of Lexington Power and Light is a major part of Premier’s larger plan to provide "everything energy" to its thousands of clients and the massive potential energy market. The new subsidiary will also allow Premier to leverage the marketing success of energy brokers such as its current subsidiary, The Power Company (TPC), and create new energy efficiency prospects for E3, allowing Premier to further its plan of integration in this sector. With the acquisition, PRHL's subsidiary E3 can now market energy efficiency products and services to approximately 2,000 commercial accounts already buying power from Lexington and/or the Power Company.

As a supplier, Premier will book their energy customer’s entire energy supply bill as revenue (estimated to be 10 to 12+ times higher than the commission). For example, in addition to the current revenue to a reseller like TPC, as the supplier Premier would also gain the difference between the wholesale and retail cost of energy thereby net income would be expected to grow 2 to 3 times what is currently earned.

PRHL’s President and CEO Randall Letcavage stated, “This is clearly the biggest milestone event in the Company’s history. We are confident Premier is positioned to become one of the fasting growing businesses in the United States.” Mr. Letcavage continued, “We have continued to drive the company forward and are excited to begin the integration of our newest subsidiary.”

About Premier Holding Corporation:

Under the corporate motto, "Everything Energy", Premier is an energy holding company focused on acquiring and integrating energy companies as synergistic subsidiaries. The Company accumulates residential and commercial clients in deregulated markets from all subsidiaries and cross sells energy and energy efficiency products and services, maximizing profit potential and minimizing cost of client procurement. In addition, Premier Holding provides top line management and financial support, which includes access to capital, financing, legal, insurance, mergers, acquisitions, joint ventures and management strategies. Additional integrated business offerings include direct energy services as power purchase agreements (PPAs), energy financing and leasing of generation programs in urban and rural real estate environments, lighting efficiency systems and refrigeration systems. For more information visit PRHL Investors Relations http://www.prhlcorp.com/.

About Lexington Power and Light, LLC (LP&L):

LP&L is an independent energy services company (ESCO) that sells electricity and natural gas to commercial and residential consumers. Under deregulation, energy consumers have the right to purchase energy supply from an independent ESCO like LP&L. As a direct supplier, our purpose at LP&L is to provide superior customer service in conjunction with the supply of discount electricity and natural gas, while promoting energy conservation. Currently LP&L services the New York Market in four (4) utility areas. Our expansion plans include a nine (9) State presence in twenty three (23) utility areas. Our mission is to educate all energy consumers of the benefits of deregulation and the positive impact it has on them. Built on the principles of saving energy consumers money, honesty and integrity our goal is to make a difference one home, one business, and one neighborhood at a time. Visit http://www.lexpl.com/ for more information.

About The Power Company (TPC):

The Power Company USA, LLC is a professional energy services firm offering brokerage and consulting services with a progressive and unique perspective on energy management based in Chicago, Illinois. Their mission is to assist companies in reducing and managing their electricity expenses. Their diverse portfolio of energy providers, transparent pricing, and unparalleled industry experience offers customers the freedom of exploring all of their options for choosing the best plan and provider. Operating in all currently deregulated states, including Texas, New York and Illinois, TPC and its partners/suppliers have provided an invaluable service to its clients. Their team has consulted and/or serviced such prominent companies, organizations and governmental entities such as: The City of Dallas, Ralcorp, Choice Hotels, Apex Hospital Systems, Mercedes Dealerships, Leona's Restaurant Group, McDonald's, and many others. Because of the large amount of business transacted and their long-standing relationships with Regional Energy Suppliers, TPC is assured to provide the most competitive prices in the industry. For more information visit: http://www.thepowercompany.com/

About Maxim Group LLC:

Maxim Group LLC is a full-service investment banking firm headquartered in New York. Maxim Group provides a full array of financial services including investment banking; private wealth management; and global institutional equity, fixed-income and derivatives sales and trading, equity research and prime brokerage services. The investment banking group focuses on middle market and emerging growth companies within the shipping, energy, health care, technology, retail, and business and financial services sectors. The institutional coverage of Maxim Group spans North and South America, Europe and Asia. Maxim Group LLC is a registered broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: Financial Industry Regulatory Authority (FINRA); Municipal Securities Rulemaking Board (MSRB); Securities Insurance Protection Corporation (SIPC); NASDAQ Stock Market and the NYSE Arca, Inc. To learn more about Maxim Group, visit http://www.maximgrp.com/.

Premier Holding Corp. Safe Harbor:

This press release contains certain statements that may include "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects," "anticipate," "optimistic," "intend," "will" or other similar expressions. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website at http://www.sec.gov/. All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under applicable securities laws, the Company does not assume a duty to update these forward-looking statements.


Connie Absher
(949) 260-8070

SOURCE: Premier Holding Corp.