Duke Energy Mergers & Acquisitions

Duke Energy M&A Summary

Duke Energy has acquired 12 companies, including 1 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 10 assets.

Duke Energy’s largest acquisition to date was in 2012, when it acquired Progress Energy for $32.0B. It’s largest disclosed sale occurred in 2025, when it sold Piedmont Natural Gas Co. to Spire   for $2.5B. Duke Energy has acquired in 6 different US states, and 2 countries. The Company’s most targeted sectors include energy services and equipment (25%) and renewable energy (25%).

M&A Summary

  • M&A Total Activity22
    • M&A Buy Activity12
    • M&A Sell Activity10
  • Total Sectors Invested 7
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 19

Duke Energy

Duke Energy Corp.

525 South Church Street,
Charlotte, North Carolina 28202
United States,
(704) 382-3853
www.duke-energy.com

All (22) Buy (12) Sell (10)
Date Target Value
$mlns
Transaction Type Acquirer Seller SRC
Link
2025-07-29 Piedmont Natural Gas · Energy Services and Equipment
Charlotte, North Carolina · www.piedmontng.com

Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural gas to over one million residential, commercial, industrial, and power generation customers. Piedmont Natural Gas was founded in 1949 and is based in Charlotte, North Carolina.

2,480 Divestiture

Spire
Advisors: BMO Capital Markets , Bradley Arant Boult Cummings , Sidley

Duke Energy


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