HOUSTON, Sept. 13, 2016 /PRNewswire/ -- EMEX, LLC announced today it has created a new subsidiary, EMEX Consolidated Partners (ECP), which has in turn acquired all of the assets of Texas Energy Aggregation, LLC (TEA). TEA will hold a minority ownership interest in the newly created subsidiary, ECP.
The formation of ECP and its subsequent acquisition of all TEA assets will bring together two industry-leading firms and advances EMEX's mission of being the leader in energy supply consulting services for government and commercial entities. EMEX will significantly enhance its presence in the Texas retail energy market through this transaction.
"Our formation of EMEX Consolidated Partners is a major boost for EMEX, and we are excited to have parlayed our own organic success and increases in capital into the majority stake of such an exciting new avenue for growth," said Dan Marzuola, EMEX, LLC President and Managing Director of ECP. "By acquiring TEA's assets, we're augmenting our focus in the government sector and providing TEA with several avenues for enhanced business, including access to new products and every open market in the country, as well as the ability to provide more customers with our revolutionary reverse auction platform. EMEX will in turn gain access to TEA's energy efficiency and sustainability initiatives, adding new services to our portfolio that we may now offer to clients."
EMEX, LLC was founded in 2007 and has quickly grown into one of the largest privately held energy supply consultants in the country, servicing commercial, industrial, and government customers nationally across all deregulated markets. EMEX, LLC is known for its proprietary reverse auction platform, which generates substantial market competition to its clients' advantage, and is a preferred vendor for government entities, having twice been recognized by the New Jersey Conference of Mayors (NJCM) as Business Member of the Year in 2013 and with the NJCM Business Leadership of the Year Award in 2016.
TEA, founded in Waco, Texas shortly after the deregulated energy market opened in 2002, has built a reputation in the industry. TEA was recognized by The Energy Professionals Association (TEPA) as its Aggregator/Broker/Consultant (ABC) of the Year in 2014 for innovation, contract negotiation, customer service, and ethics. In 2016 the Energy Research Consulting Group (ERCG) named TEA one of the top 3 broker/consultants in the nation.
"The partnership with EMEX will increase TEA's presence in other states, enhance our back-office operations and bring a wealth of knowledge and experience to our firm," said TJ Ermoian, President of TEA. "EMEX's team has extensive experience in technology and sales management. This is a great fit for both companies, with each group having a similar culture and a commitment to customer satisfaction. I look forward to working with EMEX and continuing the mission we began 14 years ago."
The crossover of new services and specialties each company gains will augment product portfolios and creates new possibilities for innovation. The combined ingenuity and high caliber personnel of EMEX and TEA will enable the firms to expand their outreach to more government entities, non-profits, and commercial & industrial clients at an accelerated pace while enhancing the offerings that each company's respective clients will benefit from, creating a substantially larger overall footprint in the energy industry.
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SOURCE EMEX, LLC