© Reuters.
JACKSON, Mich. – In a strategic move, Consumers Energy, a principal subsidiary of CMS Energy (NYSE: NYSE:), has reached a definitive agreement to sell its Appliance Service Plan (ASP) business to Oncourse Home Solutions. The transaction is slated for completion in the first half of 2024, pending the satisfaction of standard closing conditions.
The sale of ASP, which has been a leading provider of appliance protection and related services in Michigan for over 35 years, is seen as a step for Consumers Energy to concentrate on its primary operations. The utility serves approximately 6.7 million residents with electric and services across Michigan.
Brian Rich, senior vice president of customer experience and technology at Consumers Energy, remarked, “This announcement to sell our Appliance Service Plan business will allow that team to grow their business in a meaningful way at Oncourse.” He emphasized the company’s commitment to its core business and the continued delivery of energy services to its customers in Michigan.
ASP has been instrumental in offering Michigan homeowners coverage for appliance repairs and replacements, safeguarding them financially from unforeseen breakdowns. The service includes around-the-clock access to customer representatives and priority scheduling for urgent heating and cooling issues. According to the announcement, existing ASP customers should experience a smooth transition, with Consumers Energy providing continued support to the buyer through an ongoing services agreement.
The information in this article is based on a press release.
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