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Houston-based Direct Energy Inc. agreed to acquire America’s Water Heater Rentals LLC from a U.S. based investment entity for $30 million in cash plus working capital.

The transaction is expected to close this year.

Canonsburg, Penn.-based AWHR is the largest independent water heater rental business in the U.S. and provides rentals, as well as related repair and maintenance services, to 80,000 residential customers located principally in the midwest, Florida and northeast. Direct Energy is a leading provider of water heater rental services in Ontario, Canada, where it currently has 1.1 million customers.

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