M&A Deal Summary

Fortis Acquires Great Lakes Power Distribution

On October 8, 2009, Fortis acquired utilities company Great Lakes Power Distribution for 75M USD

Acquisition Highlights
  • This is Fortis’ 1st transaction in the Utilities sector.
  • This is Fortis’ 7th largest (disclosed) transaction.
  • This is Fortis’ 4th transaction in Canada.
  • This is Fortis’ 1st transaction in Ontario.

M&A Deal Summary
Date 2009-10-08
Target Great Lakes Power Distribution
Sector Utilities
Buyer(s) Fortis
Deal Type Add-on Acquisition
Deal Value 75M USD

Target

Great Lakes Power Distribution

Sault Ste. Marie, Ontario, Canada
Great Lakes Power Distribution Inc. serves approximately 12,000 customers located in the district of Algoma in northern Ontario. Its assets include more than 1,800 kilometers of distribution lines in an area that covers approximately 14,200 square kilometers, which is more than double the size of the Greater Toronto Area.

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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 5 of 10
Sector (Utilities) 1 of 5
Type (Add-on Acquisition) 4 of 9
State (Ontario) 1 of 1
Country (Canada) 4 of 4
Year (2009) 1 of 1
Size (of disclosed) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-08-01 Delta Regina Hotel

Regina, Saskatchewan, Canada

Delta Regina Hotel operates as a hotel in Canada. It provides rooms, suites, trade and convention centre, restaurant, bar/lounge, health club, swimming pools, meeting facilities, business center, and conference facilities.

Buy $50M
FOLLOWING 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
Mergr

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