SinglePoint Inc. (“SinglePoint” or “the Company”), an acquisition-focused solar energy and sustainable solutions provider, announced the completion of initial closing for the acquisition of Frontline Power Solutions, a Multi-State Licensed Energy Services Company (ESCO). The agreement provides for a two-phase closing of which we have now completed phase one with the initial payments completed and will proceed to phase two.
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Frontline Power Solutions (FPS) is a comprehensive energy service Company with the ability to operate in deregulated markets across the country. Frontline Power is licensed in nine states and has applied for and is awaiting final approval in 12 additional states. Frontline provides Energy Supply Agreements to all sizes of commercial, industrial, and institutional properties. In addition to supplying direct agreements, FPS also lends its expertise to its clients to help reduce energy consumption, streamline energy portfolios, and offer other options to lower energy costs.
The strategic acquisition provides SinglePoint with access to an extensive portfolio of clients while giving those FPS clients reciprocal access to one of the nation’s leading solar power solutions companies and best-in-class customer service.
Wil Ralston, CEO of SinglePoint, said, “With the completion of our first investment and acquisition of minority interest in FPS, we believe FPS will round out our service offerings by providing tremendous opportunities in the deregulated energy markets. Through Energy Service Agreements or assistance with installing a client’s solar system, SinglePoint can now assist thousands of commercial clients in their solar transition.”
John Holmes, Founder and CEO of FPS, said, “Our focus has been supplying commercial energy contracts to large and small commercial, industrial, institutional, and property management firms. We facilitate substantial reductions in energy consumption and spending while streamlining logistical management of their energy portfolios. By joining with SinglePoint, our two companies benefit from economies of scale and monetizing opportunities more efficiently and quickly.”