Gainline Capital Partners, a private equity firm focused on U.S.-based middle market companies, has acquired a majority interest in Flagship Power, an electric company in Texas.
Flagship offers electricity service options for consumers and small businesses in the Texas market. The management team of Flagship will remain in place, and Flagship’s founder, Utility Rescue, remains a significant shareholder in the company.
“We see this transaction as providing more fuel to fire the growth of Flagship and Utility Rescue’s other brands,” says Tom Schmidt, CEO of Utility Rescue. “We are excited to see to what heights we can now take the Flagship investment with Gainline’s strength behind the company.”