Seeing profit in Texas electricity market, Connecticut private equity firm buys stake in retailer

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Seeing profit in Texas electricity market, Connecticut private equity firm buys stake in retailer
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Gainline Capital Partners said Wednesday it purchased a major interest in Flagship Power,...

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launched Flagship Power in 2022 and will remain a significant shareholder in it, the companies said in a statement.

Cantrell, who will remain on Flagship’s board, declined to say how many customers the company serves, but said it’s “adding thousands a week.” The companies also did not disclose the value of the deal, or exactly how much of an interest Gainline will have in Flagship.Cantrell has been involved in the Texas retail electricity market since its current structure was set up, he said.

Over the years Cantrell has helped launch multiple retail electricity brands in Texas, including Pulse Power which was sold to Shell Energy in 2021. He expected Flagship to attract private equity investment, but said it happened even faster than he anticipated.

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