M&A Deal Summary

J.P. Morgan Private Equity Group Acquires SJI

On February 24, 2022, private equity firm J.P. Morgan Private Equity Group acquired energy services and equipment company SJI for 8.1B USD

Acquisition Highlights
  • This is J.P. Morgan Private Equity Group’s 2nd transaction in the Energy Services and Equipment sector.
  • This is J.P. Morgan Private Equity Group’s largest (disclosed) transaction.
  • This is J.P. Morgan Private Equity Group’s 5th transaction in the United States.
  • This is J.P. Morgan Private Equity Group’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2022-02-24
Target SJI
Sector Energy Services and Equipment
Buyer(s) J.P. Morgan Private Equity Group
Deal Type Going Private
Deal Value 8.1B USD
Advisor(s) BofA Securities (Financial)
Gibson, Dunn & Crutcher (Legal)

Target

SJI

Folsom, New Jersey, United States
SJI is an energy infrastructure holding company that delivers energy services to customers through two primary subsidiaries: SJI Utilities (SJIU) and SJI Energy Enterprises (SJIEE). SJIU houses the company’s regulated natural gas utility operations, delivering safe, reliable, and affordable natural gas to more than 700,000 residential, commercial and industrial customers across New Jersey via its South Jersey Gas and Elizabethtown Gas subsidiaries. SJIEE houses the company’s non-utility operations primarily focused on clean energy development and decarbonization via renewable energy production and energy management activities. SJI was founded in 1910 and is based in Folsom, New Jersey.

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Buyer(S) 1

Buyer

J.P. Morgan Private Equity Group

Category Private Equity Firm
Size Mega
Type Sector Agnostic
DESCRIPTION

J.P. Morgan Investment Management Inc. is the private equity and alternative investments group within JP Morgan Chase bank. The Unit was established in 1984 and is headquartered in New York City.

DEAL STATS #
Overall 7 of 8
Sector (Energy Services and Equipment) 2 of 2
Type (Going Private) 2 of 2
State (New Jersey) 1 of 2
Country (United States) 5 of 6
Year (2022) 1 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-19 GETEC

Magdeburg, Germany

GETEC offers tailor-made, efficient, and sustainable energy solutions to industrial and real estate companies, designed and realized by a pool of highly qualified engineers. GETEC was founded in 1993 and is based in Magdeburg, Germany.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-22 Saphyre

Hoboken, New Jersey, United States

Saphyre leverages patented AI technology to digitize all pre-trade data and activities across multiple counterparties: from asset owners to investment managers, hedge funds to prime brokers, any client firms to broker-dealers and custodians, and much more. Saphyre was founded in 2017 and is based in Hoboken, New Jersey.

Buy -
Mergr

Product

Company

Legal