Reliance Home Comfort acquires National Home Services

Reliance Comfort Limited Partnership (Reliance) closed its purchase of National Energy Corporation, which operates under the name National Home Services (NHS), its water heater and HVAC home services business, from Just Energy Ontario Group Inc. for $505 million (US$462.369 million). NHS is the Home Services subsidiary of Just Energy specializing in the supply of rental water heaters and HVAC equipment. Headquartered in Toronto with operating branches located across the country, Reliance employs more than 1,200 team members and serves more than 1.6 million residential and commercial customers. Just Energy is a competitive retailer of natural gas and electricity, serving more than 2 million residential, commercial and home services customers through a wide range of energy programs and home comfort services. Fasken advised Just Energy with a team led by Scott Conover and that included Aaron Stefan and Louise Kennedy (financing); Christopher Steeves and Paul Casuccio (tax); Andrew Nunes (IT contracting); Ross Gascho (pension and benefits); Ralph Nero (employment); and Nicole Park and Gina Croce (corporate).