M&A Deal Summary

AltaGas Acquires WGL Holdings

On January 25, 2017, AltaGas acquired utilities company WGL Holdings for 6.4B USD

Acquisition Highlights
  • This is AltaGas’ 1st transaction in the Utilities sector.
  • This is AltaGas’ largest (disclosed) transaction.
  • This is AltaGas’ 2nd transaction in the United States.
  • This is AltaGas’ 1st transaction in District of Columbia.

M&A Deal Summary

Date 2017-01-25
Target WGL Holdings
Sector Utilities
Buyer(s) AltaGas
Deal Type Add-on Acquisition
Deal Value 6.4B USD
Advisor(s) Goldman Sachs Investment Banking Division (Financial)
Kirkland & Ellis LLP
Covington & Burling LLP (Legal)

Target

WGL Holdings

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

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Buyer(S) 1

Buyer

AltaGas

Calgary, Alberta, Canada

website


Category Company
Founded 1994
SectorRenewable Energy
Employees2,984
Revenue 5.6B CAD (2020)
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 founded in 1994 and is based in Calgary, Canada.


DEAL STATS #
Overall 4 of 4
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 4 of 4
State (District of Columbia) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-01 SEMCO Energy

Port Huron, Michigan, United States

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.

Buy $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-10 Tidewater

Calgary, Alberta, Canada

Tidewater is a midstream and energy infrastructure business based in Calgary, Alberta. Tidewater is a diversified midstream and energy infrastructure business with transmission, transportation, processing, marketing, and terminalling assets across Alberta and B.C. Tidewater provides solutions to upstream oil and gas producers to efficiently and sustainably get their products to market using Tidewater’s unique and integrated asset base. Tidewater was founded in 2015 and is based in Calgary, Alberta.

Sell -