BH - M&A Summary and Business Overview

UtilitiesCompany

BH M&A Summary

BH has acquired 7 companies. A total of 1 acquisition came from private equity firms.

BH’s largest acquisition to date was in 2015, when it acquired SourceGas for $1.9B. BH has acquired in 4 different US states. The Company’s most targeted sectors include utilities (58%) and oil/gas exploration (29%).

BH Business Overview

Where is BH headquartered?

BH is headquartered in Rapid City, South Dakota.

What is BH’s revenue?

BH disclosed revenue of 459M USD for 2022 and 414M USD for 2021.

How many employees does BH have?

BH has 2,982 employees.

What sector is BH in?

BH is an utilities company.

When was BH founded?

BH was founded in 1941.

M&A Summary

  • M&A Total Activity7
    • M&A Buy Activity7
  • Total Sectors Invested 3
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 7
  • M&A Advisors 2

BH

Black Hills Corp.

7001 Mount Rushmore Road,
Rapid City, South Dakota 57702
United States,
(605) 721-1700
www.blackhillscorp.com

BH is a growth-oriented, vertically-integrated energy company with a tradition of improving life with energy and a vision to be the energy partner of choice. The company also generates wholesale electricity and produces natural gas, oil and coal. Black Hills was founded in 1941 and is based in Rapid City, South Dakota.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 7 - - - - - 7
vol $2.9B $2.9B
Sell (0.0/yr) # - - - - - - 0
  7

Most Recent M&A

Company Date Value Type
SourceGas LLC 2015-07-12 1.9B USD Add-on Acquisition
Golden, Colorado · www.sourcegas.com
Energy West Wyoming, Inc. 2015-07-01 17M USD Divestiture
Cody, Wyoming
MGTC - Northeastern Wyoming Gas Utility Assets 2014-11-25 6M USD Divestiture
, United States
Aquila Networks-WPC. 2007-02-07 940M USD Divestiture
Pueblo, Colorado
Piceance Basin Properties, LLC 2006-08-30 24M USD Divestiture
Houston, Texas
Cheyenne Light, Fuel & Power Co. 2005-01-21 68M USD Add-on Acquisition
Cheyenne, Wyoming · www.cheyennelight.com
Wyodak Resources Development Corp. 1956-01-01 - Divestiture
Gillette, Wyoming · www.wyodak.com
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Cheyenne Light, Fuel & Power Co. 2005-01-21 MGTC - 400 Miles Of Natural Gas Pipeline 2015-01-01 1
Cheyenne, Wyoming · www.cheyennelight.com , United States

M&A by Sector

Sector Buy # Value Sell # Value
Utilities 4 (57%) 1.0B (34%) - -
Oil/Gas Exploration 2 (29%) 1.9B (65%) - -
Energy Services and Equipment 1 (14%) 17M (1%) - -
Total 7 $2.9B - -

By Geo

State/Country Buy Value Sell Value
United States 7 2.9B - -
  Wyoming 3 85M - -
  Colorado 2 2.8B - -
  Texas 1 24M - -
Total 7 $2.9B - -

Top M&A Advisors

Financial Deals
Credit Suisse Investment Banking
 1
Legal Deals
Faegre Baker Daniels LLP
 1

Deal Values

buy # Total
> $1B 1 $1.9B
$100M to $1B 1 $940M
< $100M 4 $115M
TOTAL $2.9B
Largest SourceGas LLC
$1.9B (2015-07-12)

M&A Connections

Deals
Acquired from
Investor(s)
14%
1 (14%)
Strategic(s)
86%
6 (86%)

Company Summary

SECTOR

Utilities

Revenue

459   11% 2022
414   76% 2021
1,697   3% 2020
1,735   2% 2019
1,754   5% 2018
1,680   7% 2017
1,573   21% 2016
1,305   7% 2015
1,394   10% 2014
1,275   9% 2013
1,173   2012
(millions of USD) Show More Show Less

Employees

2,982

Established

1941

Public

NYSE: BKH

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