PowerOne Increases Customer Acquisition Capabilities
Chicago, Illinois, December 9, 2014 — PowerOne Corporation recently signed agreements with three independent sales organizations (ISOs) to augment the company’s customer acquisition operations. Each ISO has many years’ experience selling competitive energy contracts, with strong performance track records and proven management.
“These companies retain energy consultants in their call centers who are very experienced and highly compliant with industry regulations,” noted Ken Buritica, Director of Sales for PowerOne. “We chose these particular ISOs because their management teams are very professional and easy to work with, and the terms we negotiated are extremely favorable.”
The ISOs will initially service the ComEd territory in Illinois, ramping up to as many as 350 sales representatives over the coming months. PowerOne expects this increased sales effort to yield a dramatic increase brokerage revenue. These teams will also provide customer acquisition services to support the two Retail Energy Providers (REPs) PowerOne plans acquire in the Midwest and Northeast.
“Expanding brokerage operations with these ISOs comes at a critical time in the company’s history,” stated George Wahbeh, PowerOne’s CEO and President. “Having brokerage relationships in place with proven performers will help maintain and grow the books of business we plan to acquire, as well as to achieve our own organic growth projections. Increasing our sales capabilities is crucial to building value in the company.”
“In evaluating the historical performance of each ISO, I have concluded that PowerOne could increase brokerage revenue by as much as 400% or more within the first year,” stated PowerOne CFO Dennis Locke. “And while that is important, PowerOne will realize even greater value by utilizing these entities to build on our supply-side customer base. Even a small percentage increase in net income from one of these high margin books could raise PowerOne’s market cap significantly.”