Acquisition advances 61C’s North American retail and integrated energy platform

STAMFORD, Conn.--(BUSINESS WIRE)--

Six One Commodities LLC (“61C”), an energy merchant backed by Pinnacle Asset Management, L.P. (“Pinnacle”), today announced that it has completed its acquisition of Great American Gas & Electric (“GAGE”) from Link Growth Advisers, LLC (“Link”). With the completion of the transaction, GAGE becomes part of 61C’s expanding energy platform.

The acquisition represents an important step in the continued growth of 61C’s retail and integrated energy capabilities in North America.

GAGE’s team, customer relationships, broker channels, systems, and operating infrastructure will support the continued buildout of 61C’s North American retail energy business. The combination will enhance 61C’s ability to serve commercial and industrial customers through an expanded offering of physical supply, structured products, portfolio management, and market intelligence.

“We are pleased to complete the GAGE acquisition and to welcome the GAGE team to 61C,” said Ben Sutton, Chief Executive Officer of 61C. “GAGE is a strong strategic fit for 61C – their customer-focused foundation, paired with our supply, risk management and market access capabilities, creates a broader and more durable offering at an important time for energy customers navigating increasingly complex energy markets. We appreciate the constructive partnership with Link and GAGE throughout the process, and our focus now is a disciplined integration that preserves what has made GAGE successful while giving the business additional tools to grow.”

“We are proud of what the GAGE team has built and are grateful for the partnership with 61C in completing this transaction,” said Puneet Sanan, President of Link. “61C is the right step for the next chapter of the business, and we believe GAGE will benefit from 61C’s broader platform, financial resources, and commercial capabilities.”

About Six One Commodities

61C is a global merchant of physical energy commodities and provides physical supply services and structures. Formed in 2018, 61C is backed by Pinnacle Asset Management, L.P. and headquartered in Stamford, Connecticut. The 61C team has a demonstrated track record of unique market insight, strong client relationships, robust returns, and disciplined risk management to execute opportunities within the energy merchanting space. Please visit our website for more information: www.61commodities.com.

About Pinnacle Asset Management, L.P.

Founded in 2003, Pinnacle Asset Management, L.P. is a private, New York-based alternative asset management firm focused on the global commodities markets with approximately $6 billion under management. Pinnacle provides its institutional investor base with exposure to global commodities markets through physical and financial absolute-return funds, strategies, and products. Pinnacle is registered as an investment adviser with the Securities and Exchange Commission, a commodity trading adviser and a commodity pool operator with the Commodity Futures Trading Commission, and a member of the National Futures Association.

About Great American Gas & Electric

GAGE is a retail energy supplier and marketer of natural gas and electricity to commercial, industrial, municipal, and residential customers. GAGE provides customized energy products and portfolio management solutions designed to help customers manage energy costs, market exposure, and service requirements across deregulated energy markets.

About Link Growth Advisers, LLC

Link is an investment firm focused on building, scaling, and partnering with growth-oriented businesses. Link has supported GAGE’s development as a differentiated retail energy marketer and technology-enabled customer platform.

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Source: Six One Commodities LLC