M&A Deal Summary

Fortis Acquires Central Hudson Enterprises

On June 13, 2013, Fortis acquired oil/gas exploration company Central Hudson Enterprises

Acquisition Highlights
  • This is Fortis’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Fortis’ 3rd transaction in the United States.
  • This is Fortis’ 1st transaction in New York.

M&A Deal Summary

Date 2013-06-13
Target Central Hudson Enterprises
Sector Oil/Gas Exploration
Buyer(s) Fortis
Deal Type Add-on Acquisition

Target

Central Hudson Enterprises

Poughkeepsie, New York, United States

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Buyer(S) 1

Buyer

Fortis

Saint John's, Newfoundland, Canada

Category Company
Founded 1885
Sector Utilities
Employees9,598
Revenue 11.5B CAD (2023)
DESCRIPTION

Fortis is a distribution utility in Canada, serving more than 2 million gas and electricity customers. Its regulated holdings include electric utilities in five Canadian provinces and two Caribbean countries and a natural gas utility in British Columbia. Fortis owns non?regulated hydroelectric generation assets in Canada, Belize and Upstate New York. Fortis also owns hotels and commercial real estate in Canada. Fortis was formed in 1977 and is based in St. John's, Newfoundland. Fortis was incorporated in 1885 and is based in Saint John's, Canada.


DEAL STATS #
Overall 7 of 10
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 6 of 9
State (New York) 1 of 2
Country (United States) 3 of 6
Year (2013) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-30 Central Vermont Public Service

Rutland, Vermont, United States

Central Vermont Public Service Corp. is engaged principally in the purchase, production, transmission, distribution and sale of electricity. CVPS serves nearly 160,000 customers in about two-thirds of the cities and towns throughout the state of Vermont.

Buy $700M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-27 CH Energy Group

Poughkeepsie,, New York, United States

CH Energy Group is an energy delivery company. Its regulated transmission and distribution subsidiary Central Hudson serves approximately 300,000 electric and 75,000 natural gas customers in eight counties of New York State's Mid‑Hudson River Valley, delivering natural gas and electricity in a 2,600-square-mile service territory that extends north from the suburbs of metropolitan New York City to the Capital District around Albany.

Buy $1.5B