M&A Deal Summary

ENMAX Acquires Emera Maine

On March 25, 2019, ENMAX acquired utilities company Emera Maine from Emera for 1.3B USD

Acquisition Highlights
  • This is ENMAX’s 1st transaction in the Utilities sector.
  • This is ENMAX’s largest (disclosed) transaction.
  • This is ENMAX’s 1st transaction in the United States.
  • This is ENMAX’s 1st transaction in Maine.

M&A Deal Summary
Date 2019-03-25
Target Emera Maine
Sector Utilities
Buyer(s) ENMAX
Sellers(s) Emera
Deal Type Divestiture
Deal Value 1.3B USD

Target

Emera Maine

Bangor, Maine, United States
Emera Maine is a regulated electric transmission and distribution utility. Emera Maine installs, operates and maintain transmission and distribution infrastructure such as poles and wires, substations, and meters. Emera Maine was founded in 2014 and is based in Bangor, Maine.

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Buyer(S) 1

Buyer

ENMAX

Calgary, Alberta, Canada
Category Company
Sector Utilities
DESCRIPTION

ENMAX Corporation, a utility company, generates, transmits, distributes, and sells electricity, natural gas, and renewable energy products to residential and commercial customers in Canada.

DEAL STATS #
Overall 2 of 2
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 1
State (Maine) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Furry Creek Power

Vancouver, British Columbia, Canada

Furry Creek Power Limited generates hydro-electricity.

Buy -

Seller(S) 1

SELLER

Emera

Halifax, Nova Scotia, Canada
Category Company
Founded 1998
Sector Utilities
Employees7,366
Revenue 7.6B CAD (2023)
DESCRIPTION

Emera is a geographically diverse energy and services company. The company invests in electricity generation, transmission, and distribution, as well as gas transmission and utility energy services. Emera was founded in 1998 and is based in Halifax, Canada.

DEAL STATS #
Overall 4 of 4
Sector (Utilities) 4 of 4
Type (Divestiture) 3 of 3
State (Maine) 1 of 1
Country (United States) 4 of 4
Year (2019) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-26 Bridgeport Energy

Bridgeport, Connecticut, United States

Bridgeport Energy is a natural gas-fired combined cycle power generation plant located in Bridgeport, Connecticut, with a nominal capacity of 520 megawatts (MW).

Sell -
Mergr

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