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Direct Energy to Sell Franchisee Home Services Business, Clockwork

Vinson & Elkins advised Direct Energy, one of North America’s largest energy and services companies and a subsidiary of Centrica plc, in connection with the sale of Clockwork, Inc. and certain of its affiliates to Authority Brands, a home services franchise platform backed by funds advised by Apax Partners, for $300 million.

The V&E corporate team was led by partners Trina Chandler and John Kupiec with assistance from senior associate Jeannie Poland and associates Nettie Downs, Mariam Boxwala and Kelly King. Also advising were partner Stephen Jacobson and senior associate Kristy Fields; partner Sean Becker and senior associate Christie Alcalá; senior associate Matt Dobbins; partner Karen Smith and senior associate Simone King; partners Amy Riella and Darren Tucker, counsel Sarah Mitchell, senior associate Elizabeth Krabill McIntyre and associate Evan Miller; partner Devika Kornbacher and senior associate Sean Hill; counsel Scot Dixon and associate Tyler Hokanson; and partner Jason McIntosh and associates Brian Russell and Lauren Meyers.

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