Truist Securities and J.P. Morgan Chase arranged a revolving credit facility to support the acquisition of natural gas retailer Infinite Energy by Gas South, a provider of natural gas throughout the Southeast U.S.
Under the terms of the acquisition, Gas South acquired Infinite Energy’s wholesale and retail natural gas business and customer list, located primarily in Georgia and Florida. Gas South’s headquarters will remain in Atlanta, but the company expects to retain a presence in Gainesville, FL, where Infinite was founded in 1994 by Darin Cook and Rich Blaser.
“We knew from our first meeting with Darin and Rich that Infinite Energy would be an outstanding fit for Gas South thanks to the quality of services they provide and the enviable culture they’ve created,” Kevin Greiner, president and CEO of Gas South, said. “We are grateful for their diligent work to ensure we got this deal across the finish line and wish them tremendous success in their future endeavors. I know that their leadership DNA will continue to be an important part of Gas South for many years to come.”
Scott Thomas, former CFO of Infinite Energy, will become president of the wholly-owned subsidiary of Gas South as it continues operating from its Gainesville office. The other five members of the senior leadership team at Infinite Energy also are expected to remain with the company during the transition.
Greiner and other members of the Gas South leadership team will continue in their current roles during and after the transition. Gas South expects to retain Infinite Energy team members across various levels and functions as the companies are combined over the coming months.