M&A Deal Summary

Essential Utilities Acquires Peoples Natural Gas

On October 23, 2018, Essential Utilities acquired utilities company Peoples Natural Gas for 4.3B USD

Acquisition Highlights
  • This is Essential Utilities’ 5th transaction in the Utilities sector.
  • This is Essential Utilities’ largest (disclosed) transaction.
  • This is Essential Utilities’ 5th transaction in the United States.
  • This is Essential Utilities’ 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2018-10-23
Target Peoples Natural Gas
Sector Utilities
Buyer(s) Essential Utilities
Deal Type Add-on Acquisition
Deal Value 4.3B USD
Advisor(s) Morgan Stanley (Financial)
Winston & Strawn (Legal)

Target

Peoples Natural Gas

Pittsburgh, Pennsylvania, United States
Peoples Natural Gas Co. is a provider of natural gas service to approximately 700,000 homes and businesses in western Pennsylvania, West Virginia and Kentucky.

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Buyer(S) 1

Buyer

Essential Utilities

Bryn Mawr, Pennsylvania, United States
Category Company
Founded 1886
Sector Utilities
Employees3,258
Revenue 2.1B USD (2023)
DESCRIPTION

Essential Utilities is a water, waste water and natural gas providers, serving approximately 5 million people across 9 states under the Aqua and Peoples brands. Essential represents an infrastructure company uniquely positioned to have a powerful impact on improving reliability, quality of life and economic prosperity for all. Essential Utilities was founded in 1886 and is based in Bryn Mawr, Pennsylvania.

DEAL STATS #
Overall 5 of 5
Sector (Utilities) 5 of 5
Type (Add-on Acquisition) 4 of 4
State (Pennsylvania) 1 of 1
Country (United States) 5 of 5
Year (2018) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-07 Crystal Clear Water

Illinois, United States

Crystal Clear Water Co., Inc. is a provider of water for 293 customer connections in unincorporated McHenry County, Illinois, adjacent to the City of Crystal Lake.

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