GEEnergy Holding Co. LLC
GEEnergy Holding Co. LLC and BBPC, LLC d/b/a Great Eastern Energy (“GEE”) was a provider of electricity and natural gas in deregulated markets. The Company provided natural gas and electricity service to approximately 54,000 commercial and industrial customers in New York, New England and New Jersey.
After growing the Company to include an electricity offering, and after a successful sales campaign in 2016 and 2017, GEE faced cash flow pressures due to backward-dated fixed price power contracts and general market dynamics. These factors converged to cause the Company to default on certain supply and finance facility obligations. As such, the Company filed for bankruptcy in order to pursue a transaction that would maximize value for the benefit of all stakeholders.
SSG was retained by Great Eastern Energy to conduct a comprehensive marketing process and solicit offers from strategic and financial buyers. Ultimately, the bid submitted by Skyview Finance Company, LLC was determined to be the highest and best price for the Company’s financial assets, which included Renewable Energy Certificates (“RECs”) and contracts to purchase RECs at a future date.