M&A Deal Summary

TriSummit Utilities Acquires AltaGas Alaskan Utilities

On May 26, 2022, TriSummit Utilities acquired oil/gas exploration company AltaGas Alaskan Utilities from SEMCO Energy for 800M USD

Acquisition Highlights
  • This is TriSummit Utilities’ 1st transaction in the Oil/Gas Exploration sector.
  • This is TriSummit Utilities’ largest (disclosed) transaction.
  • This is TriSummit Utilities’ 1st transaction in the United States.
  • This is TriSummit Utilities’ 1st transaction in Alaska.

M&A Deal Summary
Date 2022-05-26
Target AltaGas Alaskan Utilities
Sector Oil/Gas Exploration
Buyer(s) TriSummit Utilities
Sellers(s) SEMCO Energy
Deal Type Divestiture
Deal Value 800M USD

Target

AltaGas Alaskan Utilities

Alaska, United States
AltaGas' Alaskan Utilities comprises ENSTAR Natural Gas, a local gas distribution company in Alaska with approximately 150,000 customers; the Alaska Pipeline Company, which operates transmission and distribution pipelines for ENSTAR. AltaGas' Alaskan Utilities is based in Alaska.

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Buyer(S) 1

Buyer

TriSummit Utilities

Calgary, Alberta, Canada

website

Category Company
Sector Oil/Gas Exploration
DESCRIPTION

TriSummit Utilities is a natural gas distribution utility company with rate-regulated Utilities in British Columbia, Alberta, and Nova Scotia. The company also owns complementary fully contracted renewable power assets. Its diversified and fully regulated or contracted operations across Canada support a stable and predictable earnings profile. TriSummit Utilities is based in Calgary, Alberta.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Alaska) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

SEMCO Energy

Port Huron, Michigan, United States

website

Category Company
Sector Energy Services and Equipment
DESCRIPTION

Semco Energy Inc. indirectly holds a regulated gas distribution utility in Alaska through Enstar Natural Gas Co. and an interest in Cook Inlet Natural Gas Storage Alaska LLC, a regulated gas storage utility under construction.

DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Alaska) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1
Size (of disclosed) 1 of 1
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