Del Mar, CA – Green Energy Live Inc (GELV) announced on February 23rd, 2010 that it has updated its letter of intent to acquire 100% of the stock in Peck Electric, a Vermont based provider of electrical contracting services that generated $6 million in gross revenue in 2009.
This will be GELV’s second acquisition, after the company acquired Comanche Livestock Exchange in July 2009 and the deal will further enhance GELV’s ability to penetrate the energy market
Peck Electric is Vermont’s leading provider of electrical contracting services and has been in business since 1972. Clients have included IBM, UPS, Energizer Battery Co. and Ben & Jerry’s. The company provides commercial and residential electrical contracting, installation of telecommunications systems and develops clean energy products.
Upon completion of due diligence and financial audits in March 2010, GELV and Peck Electric will determine a closing date for the acquisition, with both parties at this point looking forward to the acquisition.
“We have been in business for 38 years and pride ourselves on our quality of service, longstanding customer relationships, and ability to innovate to meet market demand. Peck generated $6 million in gross revenue in calendar year 2009. We believe our established electrical contracting services business will be significantly augmented by our new clean energy initiatives as well as exposure to the public markets. We are eager to combine forces with Green Energy Live,” commented Jeff Peck, President of Peck Electric.
Karen Clark, President/CEO of Green Energy Live, commented: “Peck Electric brings several critical components to Green Energy Live that will allow us to offer clean energy solutions in the marketplace.”
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The Charles Schwab Corporation (CSC) is a financial holding company.
Southwest Airlines Co. is a passenger airline that provides scheduled air transportation in the United States.
ON Semiconductor Corporation (ON Semiconductor) is a global supplier of power, analog, digital signal processing, mixed signal, advanced logic, data management semiconductors, memory and standard component devices
Macy's, Inc. (Macy's) is a retail company that operates retail stores and Internet Websites under two brands, Macy’s and Bloomingdale’s
SanDisk Corporation (SanDisk) is engaged in designing, developing and manufacturing products and solutions in a range of form factors using the flash memory, controller and firmware technologies
Oracle Corporation (Oracle) is an enterprise software company. The Company develops, manufactures, markets, distributes and services database and middleware software, as well as applications software that help its customers manage their businesses
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