Cirro is headquartered in Richardson, Texas, a suburb of Dallas. Closing of the acquisition is expected by the end of the third quarter of 2008.
Cirro will become a subsidiary of Dominion Retail and maintain its operations in Texas. Cirro was represented in the sale by Aspen Advisors, an investment banking firm based in Dallas.
Richard Zelenko, vice president of Dominion Retail, said: Cirro Energy has provided both outstanding service and value to Texas customers for more than six years. Dominion is pleased to acquire such an experienced company with an excellent track record, skilled employees and good prospects for growth in the largest competitive electricity market in the US.
