Capitalizing on a growth market.
Since making our original investment, MVC Capital has played an integral role in helping U.S. Gas & Electric (USG&E) achieve success in the deregulated natural gas and electric marketplace. Headquartered in North Miami Beach, Florida, USG&E sells natural gas and electricity to residential and small commercial customers in deregulated areas of eleven states—up from one state when MVC acquired ownership in August 2007. During this time, MVC has worked closely with management to develop and execute an aggressive plan to leverage opportunities throughout the country to provide choice on gas and electricity products to commercial and residential customers.
MVC has influenced various aspects of USG&E's business, helping the Company’s retention of key management team members and providing guidance on logistics, financings, restructurings, M&A, IT, capital market matters and more. MVC also spearheaded an add-on acquisition that integrated a competitor into USG&E, without requiring up-front cash which significantly increased the Company's customer base.
MVC's hands-on involvement with USG&E is typical of our approach, with three executives from The Tokarz Group Advisers sitting on the USG&E board.