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Just Energy closes $14M purchase of EdgePower

Just Energy Group Inc. closed its $14 million acquisition of EdgePower Inc., an energy monitoring and management company operating out of Aspen, Colo.

The consideration is comprised of about $7 million in cash and $7 million worth of 1,415,285 Just Energy common shares, 606,550 of which are subject to a three-year escrow hold period. The deal also includes a one-time performance based payout after three years of up to $6 million, according to a Feb. 28 news release.

Roth Capital Partners advised EdgePower on the transaction.

Ontario-based Just Energy is a retail energy provider specializing in electricity and natural gas commodities.