Miramar, FL, February 19, 2014 --(PR.com
)-- U.S. Gas & Electric, Inc. (“USG&E”), a leading provider of natural gas and electricity to residential and small commercial customers in a growing number of states, announced today that it has entered into an exclusive strategic marketing agreement with 5LINX Enterprises, Inc. (“5LINX”) whereby USG&E is now the sole supplier for new customers in every current and future market in which USG&E operates.
USG&E expects fiscal year ending December 31, 2013 to be its most profitable ever. The Company has continued to deliver strong growth in customers, sales volume, gross margin and EBITDA – good indicators of fundamental value creation, while maintaining business disciplines and very low leverage (< 0.3x leverage, based on trailing twelve month EBITDA). USG&E’s commitment to its customers has enabled it to grow its customer base from less than 3,000 customers in 2005 to more than 400,000 residential consumer equivalents as of January 2014, providing customer savings of nearly $38 million.
“Our growth in 2014 will be further enhanced by this exclusive sales channel,” said Doug Marcille, President and CEO of USG&E. “We have worked hand-in-hand with 5LINX over the past 2 years in developing this relationship and are very pleased to announce this new agreement with what we believe to be the best network marketing organization in our industry.”
Craig Jerabeck, President and CEO of 5LINX stated, “5LINX is pleased to announce the expansion of its relationship with USG&E. This new marketing agreement will allow 5LINX and its Independent Marketing Representatives a more focused approach to the markets which USG&E serves. Our Representatives and customers will benefit from offers tailored to our over 95,000 members.”
About U.S. Gas & Electric
U.S. Gas & Electric, its subsidiaries and family of companies (“USG&E”) is a leading retail energy supplier to commercial and residential customers in Connecticut, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Pennsylvania, and Washington D.C. USG&E provides energy to customers with wide ranges of energy usage patterns and requirements and gives them the benefit of being a part of a large wholesale buying pool. The Company relies on its market knowledge, internal efficiencies, and core capabilities to provide customers with a wide variety of natural gas and electric products. MVC Capital, Inc., is USG&E’s largest shareholder. For more information, visit www.USGandE.com or contact Doug Marcille, President and CEO at (305) 947-7880.
About 5LINX Enterprises, Inc.
5LINX(R) offers a unique work from home business opportunity based on essential products and services people use every day. 5LINX(R) distributes its products and services through a network of dedicated independent marketing representatives. 5LINX(R) has earned the distinction as being recognized by Inc. Magazine as one of the 5,000 fastest-growing privately-held companies in the country for the last eight years. In 2012 and 2013, 5LINX(R) was named to the Global 100 List compiled by Direct Selling News, the premier direct sales industry magazine, making 5LINX(R) one of the 100 largest direct sales companies in the world.