Simply Green Homes Services Inc. completes $21 million acquisition of Green Planet Home Services' home energy portfolio

TORONTO, Feb. 26, 2020 /CNW/ - Simply Group, one of Canada's fastest growing home comfort solutions companies, today announced that it has completed a portfolio acquisition for $21 million to take over all remaining active customers from Green Planet Home Services, increasing its total assets acquired to nearly $800 million.

"Today's announcement represents an exciting next step in Simply Green's continued growth and reflects our strategy to focus on long-term, sustainable revenue generation and profit," says Lawrence Krimker, Founder and CEO, Simply Green. "We are excited about the opportunity to leverage this strong portfolio, from a well-respected brand, to create additional value for our business, our investors and our customers."

This is the second Simply Green acquisition of Green Planet Home Services' contracts, following a $6.5 million acquisition in 2017.

"It was very important to us that the future needs of our loyal customers would be properly met," says Larry Galbo, President and CEO of Green Planet Home Services. "Our history with Simply Green made this decision an easy one. They have proven they have the scale, expertise and professionalism to deliver first-class services and customer experiences. This is a win-win for our investors and the consumer."

The contracts acquired today will be migrated to Simply Green's platform as of March 2, 2020. Simply Green now provides home energy products and services to more than 70,000 customers across Canada, helping them increase their energy-efficiency and reduce their carbon footprint.

About Simply Green
Simply Green is a part of the Simply Group family of companies. With nearly $800 million in assets acquired, Simply Group is providing consumers and businesses with financing solutions that afford them greater flexibility to improve their energy-efficiency and invest in the modernization of their residential, commercial and industrial properties and projects. Simply Green believes that its people are its greatest asset and is proud to be Great Place to Work-Certified since 2016. In 2020, Simply Green was named Best Business of the Year by the CanadianSME National Business Awards.

SOURCE Simply Group