Nov 2025
STAT Energy
Sale of ERCOT Retail Electricity Customer Portfolio
Exclusive financial advisor to STAT Energy (Wolverine Holdings) on the sale of its ERCOT retail electricity customer portfolio to Spark HoldCo (Via Renewables).
Overview
buy-side / sell-side
buy-side / sell-side
Sell-Side
Sell-Side
SECTOR
SECTOR
Retail & Wholesale
Retail & Wholesale
MARKET
MARKET
TEXAS POWER MARKETS
TEXAS POWER MARKETS
ADVISORY ROLE
ADVISORY ROLE
Exclusive Financial Advisor
Exclusive Financial Advisor
COUNTERPARTY
COUNTERPARTY
Spark HoldCo
TRANSACTION PHASE
TRANSACTION PHASE
Strategic Sale
RELATED COVERAGE
“Preston has been on the seller’s side twice himself, as an executive and equity owner, and it showed. He knew which buyers would be serious about our business and what it would take to get a deal done. He handled the process himself, kept it confidential, and got us to closing without taking our focus off the business. I would hire him again.”
“Preston has been on the seller’s side twice himself, as an executive and equity owner, and it showed. He knew which buyers would be serious about our business and what it would take to get a deal done. He handled the process himself, kept it confidential, and got us to closing without taking our focus off the business. I would hire him again.”
“Preston has been on the seller’s side twice himself, as an executive and equity owner, and it showed. He knew which buyers would be serious about our business and what it would take to get a deal done. He handled the process himself, kept it confidential, and got us to closing without taking our focus off the business. I would hire him again.”
Ethan Kahn
Ethan Kahn
Principal, Wolverine Trading
Principal, Wolverine Trading
Selected Transactions
