M&A Deal Summary

Enbridge Acquires Enbridge Gas North Carolina

On October 1, 2024, Enbridge acquired utilities company Enbridge Gas North Carolina from Dominion Energy

Acquisition Highlights
  • This is Enbridge’s 1st transaction in the Utilities sector.
  • This is Enbridge’s 10th transaction in the United States.
  • This is Enbridge’s 1st transaction in North Carolina.

M&A Deal Summary
Date 2024-10-01
Target Enbridge Gas North Carolina
Sector Utilities
Buyer(s) Enbridge
Sellers(s) Dominion Energy
Deal Type Divestiture

Target

Enbridge Gas North Carolina

Gastonia, North Carolina, United States
Enbridge Gas North Carolina is a single-state regulated gas utility serving over 600,000 customers in service territories supported by strong economic growth in cities such as Raleigh, Durham, Gastonia, and Asheville. Enbridge Gas North Carolina is based in Gastonia, North Carolina.

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Buyer(S) 1

Buyer

Enbridge

Calgary, Alberta, Canada
Category Company
Founded 1949
Sector Energy Services and Equipment
Employees11,500
Revenue 43.6B CAD (2023)
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 14 of 14
Sector (Utilities) 1 of 1
Type (Divestiture) 6 of 6
State (North Carolina) 1 of 1
Country (United States) 10 of 10
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 Dominion East Ohio

Cleveland, Ohio, United States

Dominion East Ohio which serves more than 1.2 million customers across more than 400 communities and 27 counties in Ohio. Dominion East Ohio is based in Cleveland, Ohio.

Buy -

Seller(S) 1

SELLER

Dominion Energy

Richmond, Virginia, United States
Category Company
Founded 1983
Sector Utilities
Employees17,700
Revenue 14.4B USD (2023)
DESCRIPTION
Dominion's corporate headquarters in downtown Richmond, Virginia.
Dominion's corporate headquarters in downtown Richmond, Virginia.

Dominion Energy is a producer and transporter of energy, with a portfolio of approximately 25,700 megawatts of electric generation, 15,000 miles of natural gas transmission, gathering, storage, and distribution pipeline, and 6,600 miles of electric transmission and distribution lines. Dominion Energy was founded in 1983 and is based in Richmond, Virginia.

DEAL STATS #
Overall 12 of 12
Sector (Utilities) 5 of 5
Type (Divestiture) 12 of 12
State (North Carolina) 1 of 1
Country (United States) 12 of 12
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 Dominion East Ohio

Cleveland, Ohio, United States

Dominion East Ohio which serves more than 1.2 million customers across more than 400 communities and 27 counties in Ohio. Dominion East Ohio is based in Cleveland, Ohio.

Sell -
Mergr

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