M&A Deal Summary

Algonquin Acquires Bermuda Electric Light Co.

On June 3, 2019, Algonquin acquired electrical equipment company Bermuda Electric Light Co. for 365M USD

Acquisition Highlights
  • This is Algonquin’s 1st transaction in the Electrical Equipment sector.
  • This is Algonquin’s 3rd largest (disclosed) transaction.
  • This is Algonquin’s 1st transaction in Bermuda.

M&A Deal Summary

Date 2019-06-03
Target Bermuda Electric Light Co.
Sector Electrical Equipment
Buyer(s) Algonquin
Deal Type Add-on Acquisition
Deal Value 365M USD

Target

Bermuda Electric Light Co.

Hamilton, Bermuda
Bermuda Electric Light Co. is a provider of electricity, operating a generating plant and transmission and distribution systems throughout the Island. Bermuda Electric Light was founded in 1908 and is based in Hamilton, Bermuda.

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Buyer(S) 1

Buyer

Algonquin

Oakville, Ontario, Canada

Category Company
Founded 1988
Sector Renewable Energy
Employees3,786
Revenue 2.3B USD (2024)
DESCRIPTION

Algonquin is a renewable energy and regulated utility company with assets across North America. The Corporation actively invests in hydroelectric, wind and solar power facilities, and sustainable utility distribution businesses (water, electricity and natural gas) through its two operating subsidiaries. Algonquin was founded in 1988 and is based in Oakville, Ontario.


DEAL STATS #
Overall 16 of 17
Sector: Electrical Equipment M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 4
Country: Bermuda M&A 1 of 1
Year: 2019 M&A 1 of 1
Size (of disclosed) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Empire District Electric Co.

Joplin, Montana, United States

Empire District Electric Co. is a generator and distributor of electricity in Missouri, Kansas, Oklahoma, and Arkansas.

Buy CA$3.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-11 Empresa de Servicios Sanitarios de Los Lagos S.A.

Los Lagos, Chile

Empresa de Servicios Sanitarios de Los Lagos S.A. (ESSAL) is a water and wastewater utility company that has approximately 230,000 connections in Southern Chile, a region well known for its access to water. The utility operates 48 potable water production systems, 29 sewage plants, and 4,100 km of distribution and sewage networks covering 33 municipalities across three regions.

Buy -