M&A Deal Summary

AltaGas Acquires SEMCO Energy

On February 1, 2012, AltaGas acquired energy services and equipment company SEMCO Energy from Continental Energy Systems for 1.1B USD

Acquisition Highlights
  • This is AltaGas’ 2nd transaction in the Energy Services and Equipment sector.
  • This is AltaGas’ 2nd largest (disclosed) transaction.
  • This is AltaGas’ 1st transaction in the United States.
  • This is AltaGas’ 1st transaction in Michigan.

M&A Deal Summary
Date 2012-02-01
Target SEMCO Energy
Sector Energy Services and Equipment
Buyer(s) AltaGas
Sellers(s) Continental Energy Systems
Deal Type Add-on Acquisition
Deal Value 1.1B USD

Target

SEMCO Energy

Port Huron, Michigan, United States
website
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.

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Buyer(S) 1

Buyer

AltaGas

Calgary, Alberta, Canada

website

Category Company
Founded 1994
Sector Renewable Energy
Employees2,926
Revenue 10.6B CAD (2021)
DESCRIPTION

AltaGas is the first major independent Canadian midstream company, AltaGas has evolved into a diversified operator and developer of gas and power infrastructure. Today our gas business gathers, processes, transports, distributes, stores and markets natural gas and natural gas liquids (NGLs), touching more than 2 Bcf/d of gas from coast to coast to coast in Canada. AltaGas was incorporated in 1994 and is based in Calgary, Canada.

DEAL STATS #
Overall 3 of 4
Sector (Energy Services and Equipment) 2 of 2
Type (Add-on Acquisition) 3 of 4
State (Michigan) 1 of 1
Country (United States) 1 of 2
Year (2012) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-20 Pacific Northern Gas

Vancouver, British Columbia, Canada

Pacific Northern Gas Ltd. is an owns and operates natural gas transmission and distribution systems.

Buy CA$230M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-25 WGL Holdings

Washington, District of Columbia, United States

WGL Holdings, Inc. is a provider of natural gas, electricity, green power and energy services, including generation, storage, transportation, distribution, supply and efficiency.

Buy $6.4B

Seller(S) 1

SELLER

Continental Energy Systems

New York, New York, United States

website

Category Company
Sector Energy Services and Equipment
DESCRIPTION

Continental Energy Systems transmits and distributes natural gas to customers in Alaska, Michigan, and New Mexico. The company distributes natural gas to residential, commercial, and industrial customers in service territories in the southern half of the state’s Lower Peninsula and in the central, eastern, and western parts of the state’s Upper Peninsula. It also distributes propane in Michigan’s Upper Peninsula; and natural gas pipeline and storage operations in Michigan.

DEAL STATS #
Overall 1 of 2
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Michigan) 1 of 1
Country (United States) 1 of 2
Year (2012) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-30 Natural Gas Operations - PNM Resources

Albuquerque, New Mexico, United States

Buy $640M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-03 New Mexico Gas

Albuquerque, New Mexico, United States

New Mexico Gas Co., Inc., a gas company. Maintains 12,000 miles of natural gas pipeline to provide service to more than 513,000 residential, commercial and transportation customers.

Sell $950M
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