Shell Energy North America announced that it has signed a purchase agreement for the acquisition of MP2 Energy LLC (MP2). Subject to regulatory approvals, the transaction is expected to be closed in the 3rd quarter of 2017.
Through self-developed proprietary systems and technology, MP2 provides market-based solutions to commercial and industrial customers for managing energy supply, load, and generation. MP2 is unique in its skill set and at the front of the curve when it comes to developing fit for purpose solutions to its customers, which face ever more complicated energy choices.
“We are proud to bring MP2 into the Shell Energy North America family,” said Glenn Wright, VP, SENA. “MP2 has established itself as a significant player in the large end-user electricity market, and achieved its position by combining optimally designed energy solutions and exceptional customer service.”
SENA manages a successful retail energy business targeting large commercial and industrial customers on the west coast of the U.S. With the acquisition of MP2, SENA expands those capabilities and gains capabilities in Texas and throughout the eastern U.S., as well as access to MP2’s top-tier network of aggregators, brokers, and consultants. “As Shell continues to expand its energy focus, we will strive to bring customers ever more innovative commodity solutions, including the deployment of new energy management tools,” said Wright.
When this acquisition closes, MP2 will continue to be managed by the existing MP2 management team as a wholly-owned subsidiary of Shell Energy North America. From its offices in The Woodlands, Texas, MP2 will utilize the additional resources that Shell provides to further develop and enhance the leading-edge services and products MP2 is built upon.
