M&A Deal Summary

Duke Energy Acquires Piedmont Natural Gas

On October 26, 2015, Duke Energy acquired energy services and equipment company Piedmont Natural Gas for 6.7B USD

Acquisition Highlights
  • This is Duke Energy’s 3rd transaction in the Energy Services and Equipment sector.
  • This is Duke Energy’s 4th largest (disclosed) transaction.
  • This is Duke Energy’s 7th transaction in the United States.
  • This is Duke Energy’s 4th transaction in North Carolina.

M&A Deal Summary
Date 2015-10-26
Target Piedmont Natural Gas
Sector Energy Services and Equipment
Buyer(s) Duke Energy
Deal Type Add-on Acquisition
Deal Value 6.7B USD
Advisor(s) Goldman Sachs (Financial)
Kirkland & Ellis (Legal)

Target

Piedmont Natural Gas

Charlotte, North Carolina, United States
website
Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural gas to more than one million residential, commercial, industrial and power generation utility customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are wholesale customers.

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Buyer(S) 1

Buyer

Duke Energy

Charlotte, North Carolina, United States

website

Category Company
Founded 1904
Sector Energy Services and Equipment
Employees27,859
Revenue 28.8B USD (2022)
DESCRIPTION

Duke Energy is an electric power holding companies in the United States. Its regulated utility operations serve approximately 4 million customers located in five states in the Southeast and Midwest, representing a population of approximately 11 million people. Its commercial power and international business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States. Duke Energy was incorporated in 1904 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 8 of 12
Sector (Energy Services and Equipment) 3 of 3
Type (Add-on Acquisition) 4 of 5
State (North Carolina) 4 of 4
Country (United States) 7 of 11
Year (2015) 1 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-03-20 Conterra Ultra Broadband

Charlotte, North Carolina, United States

Conterra Networks creates custom technology-based network solutions for businesses of all sizes across 22 states. The company has been designing, building, and managing 11,000+ mile owned and operated fiber network. Its service, reliability, and expertise in understanding customers’ needs have enabled them to become one of the fastest-growing telecommunication companies in the country. Conterra Ultra Broadband is based in Charlotte, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-30 Phoenix Energy Technologies

Irvine, California, United States

Phoenix Energy Technologies, Inc. is a provider of Enterprise Energy Management software and services for multinational retailers, theatres, universities and corporations. The Company provides commercial customers with actionable data to control their energy usage and costs through an enterprise energy information and management SaaS platform.

Buy -
Mergr

Product

Company

Legal