M&A Deal Summary

Algonquin Acquires Empire District Electric

On January 1, 2017, Algonquin acquired utilities company Empire District Electric for 3.2B CAD

Acquisition Highlights
  • This is Algonquin’s 4th transaction in the Utilities sector.
  • This is Algonquin’s 0th largest (disclosed) transaction.
  • This is Algonquin’s 13th transaction in the United States.
  • This is Algonquin’s 1st transaction in Montana.

M&A Deal Summary
Date 2017-01-01
Target Empire District Electric
Sector Utilities
Buyer(s) Algonquin
Deal Type Add-on Acquisition
Deal Value 3.2B CAD

Target

Empire District Electric

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

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Buyer(S) 1

Buyer

Algonquin

Oakville, Ontario, Canada
Category Company
Founded 1988
Sector Renewable Energy
Employees3,946
Revenue 2.7B USD (2023)
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 Power Company owns a direct or indirect equity interest in 20 hydroelectric generating facilities, 5 wind energy facilities, and 7 thermal energy facilities. Algonquin was founded in 1988 and is based in Oakville, Canada.

DEAL STATS #
Overall 15 of 17
Sector (Utilities) 4 of 5
Type (Add-on Acquisition) 3 of 4
State (Montana) 1 of 1
Country (United States) 13 of 13
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-04 The Odell wind power project

Minnesota, United States

The Odell wind power project utilize proven turbine technology comprised of 100 Vestas V110-2.0 wind turbines.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-03 Bermuda Electric Light

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.

Buy $365M
Mergr

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