M&A Deal Summary

Enbridge Acquires Spectra Energy

On August 24, 2018, Enbridge acquired energy services and equipment company Spectra Energy for 3.3B USD

Acquisition Highlights
  • This is Enbridge’s 3rd transaction in the Energy Services and Equipment sector.
  • This is Enbridge’s largest (disclosed) transaction.
  • This is Enbridge’s 3rd transaction in the United States.
  • This is Enbridge’s 1st transaction in Texas.

M&A Deal Summary
Date 2018-08-24
Target Spectra Energy
Sector Energy Services and Equipment
Buyer(s) Enbridge
Deal Type Add-on Acquisition
Deal Value 3.3B USD

Target

Spectra Energy

Houston, Texas, United States
website
Entrance to Spectra Energy's corporate headquarters in Houston, Texas.
Entrance to Spectra Energy's corporate headquarters in Houston, Texas.
Spectra Energy Corp. is a pipeline and midstream gas company. Spectra Energy’s operations in the United States and Canada include more than 22,000 miles of natural gas, natural gas liquids, and crude oil pipelines; approximately 305 billion cubic feet (Bcf) of natural gas storage; 4.8 million barrels of crude oil storage; as well as natural gas gathering, processing, and local distribution operations. Spectra Energy was formed in 2006 and is based in Houston, Texas.

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Buyer(S) 1

Buyer

Enbridge

Calgary, Alberta, Canada

website

Category Company
Founded 1949
Sector Energy Services and Equipment
Employees11,100
Revenue 53.3B CAD (2022)
DESCRIPTION
Enbridge office in West Duluth, Minnesota.
Enbridge office in West Duluth, Minnesota.

Enbridge operates a US and Canadian crude oil and liquid transportation network. Enbridge was incorporated in 1949 and is based in Calgary, Canada.

DEAL STATS #
Overall 7 of 13
Sector (Energy Services and Equipment) 3 of 7
Type (Add-on Acquisition) 3 of 4
State (Texas) 1 of 6
Country (United States) 3 of 9
Year (2018) 1 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-01 Midcoast Operating

Houston, Texas, United States

Midcoast Operating, L.P. consists of three large, legacy gathering and processing systems in Texas and Oklahoma, a long-haul NGL transmission system delivering NGLs from multiple supply areas (including the DJ and Permian basins) to Mont Belvieu, Texas, and a marketing and logistics business.

Sell $1.1B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-17 Enbridge Energy Partners

Houston, Texas, United States

Enbridge Energy Partners LP is a provider of transport, generate and distribute energy. Enbridge Energy Partners was founded in 1991 and is based in Houston, Texas.

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