Energy Future Holdings has three predecessor companies: Dallas Power & Light, founded in 1917, Texas Electric Service Company, founded in 1929, and Texas Power & Light , founded in 1912. All three companies were owned by Electric Bond and Share Company, a subsidiary of General Electric.
These three companies were owned by a publicly-traded holding company, Texas Utilities, in 1945, and were merged into one company, TU Electric, in 1984.
In 1996 TXU (as the company was now called) merged with the parent company of Lone Star Gas, making it the largest provider of electricity and natural gas in the state of Texas.
Private equity firms KKR, TPG Capital, and Goldman Sachs Capital Partners purchased TXU in 2007. Since the buyout the company has been struggling due to a gamble by the equity firms that natural gas prices would rise, before prices fell sharply.
Energy Future Holdings is #38 on the Forbes list of America’s Largest Private Companies, has 9,200 employees, and had $8.24 billion in revenue in 2011.
Energy Future HoldingsEnergy Future Holdings has three predecessor companies: Dallas Power & Light, founded in 1917, Texas Electric Service Company, founded in 1929, and Texas Power & Light , founded in 1912. All three companies were owned by Electric Bond and Share Company, a subsidiary of General Electric.
These three companies were owned by a publicly-traded holding company, Texas Utilities, in 1945, and were merged into one company, TU Electric, in 1984.
In 1996 TXU (as the company was now called) merged with the parent company of Lone Star Gas, making it the largest provider of electricity and natural gas in the state of Texas.
History
Private equity firms KKR, TPG Capital, and Goldman Sachs Capital Partners purchased TXU in 2007. Since the buyout the company has been struggling due to a gamble by the equity firms that natural gas prices would rise, before prices fell sharply.
Energy Future Holdings is #38 on the Forbes list of America’s Largest Private Companies, has 9,200 employees, and had $8.24 billion in revenue in 2011.
