M&A Deal Summary

Liberty Utilities Acquires New England Gas

On December 20, 2013, Liberty Utilities acquired utilities company New England Gas from Spire for 74M USD

Acquisition Highlights
  • This is Liberty Utilities’ 1st transaction in the Utilities sector.
  • This is Liberty Utilities’ 2nd largest (disclosed) transaction.
  • This is Liberty Utilities’ 1st transaction in the United States.
  • This is Liberty Utilities’ 1st transaction in Massachusetts.

M&A Deal Summary
Date 2013-12-20
Target New England Gas
Sector Utilities
Buyer(s) Liberty Utilities
Sellers(s) Spire
Deal Type Divestiture
Deal Value 74M USD

Target

New England Gas

Fall River, Massachusetts, United States
New England Gas Co. is a distributor of natural gas and also offers equipment services and repairs.

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Buyer(S) 1

Buyer

Liberty Utilities

Avondale, Arizona, United States
Category Company
Founded 2013
Sector Utilities
DESCRIPTION

Liberty Utilities Co. is a regulated water, natural gas and electric transmission and distribution utility, delivering responsive and reliable essential services to over one third of a million customers across the United States.

DEAL STATS #
Overall 1 of 2
Sector (Utilities) 1 of 2
Type (Divestiture) 1 of 2
State (Massachusetts) 1 of 1
Country (United States) 1 of 2
Year (2013) 1 of 1
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-20 American Water Works - New York American Water

Merrick, New York, United States

American Water's New York American Water is a regulated water and wastewater utility serving over 125,000 customer connections across seven counties in southeastern New York. Operations include approximately 1,270 miles of water mains and distribution lines with 98% of customers in Nassau County on Long Island.

Buy $608M

Seller(S) 1

SELLER

Spire

St. Louis, Missouri, United States
Category Company
Founded 1857
Sector Utilities
Employees3,589
Revenue 2.7B USD (2023)
DESCRIPTION

Spire is a utility holding company whose primary business is the delivery of natural gas to residential, commercial, and industrial customers. The company has three natural gas utilities: Laclede Gas, Missouri Gas Energy, and Alabama Gas Corporation. Spire was founded in 1857 and is based in St. Louis, Missouri.

DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 1
State (Massachusetts) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-03 Missouri Gas Energy

Kansas City, Missouri, United States

Missouri Gas Energy, Inc. is a natural gas distribution company.

Buy $975M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-02 Alabama Gas

Birmingham, Alabama, United States

Alabama Gas Corp., is a natural gas distributor. Alagasco delivers clean-burning, energy-efficient natural gas to industries, commercial businesses and residential homes.

Buy $1.4B
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