On April 9, 2025, IGS Energy, a U.S.-based energy retailer, announced an agreement to acquire Just Energy, a Canadian energy retailer, in a move that will create one of the largest energy retailers in North America. The combined company will serve approximately 7.5 million residential customer equivalents (RCEs), significantly expanding IGS Energy’s market presence across the United States and Canada. The transaction is expected to close by the end of 2025, pending regulatory approvals and customary closing conditions. Financial terms of the deal, including the transaction value, were not disclosed. At the time of the announcement, the exchange rate was approximately 1 USD = 1.25 CAD.

Latham & Watkins LLP represents Just Energy, with a corporate deal team led by New York partner David Kurzweil and counsel Julian Azran, along with associates Maya Rahwanji, Ebenezer Abaidoo, and Rheem Brooks. Taft Stettinius & Hollister LLP serves as legal advisor to IGS Energy. Wells Fargo led the acquisition financing and acted as exclusive financial advisor to IGS Energy. Wells Fargo, Bank of America, The Huntington National Bank, and JPMorganChase provided committed financing for the deal. 

This strategic acquisition is expected to enhance IGS Energy’s offerings and create long-term value across North American energy markets.