M&A Deal Summary

New Jersey Resources Acquires Leaf River Energy Center

On September 5, 2019, New Jersey Resources acquired utilities company Leaf River Energy Center from Macquarie Infrastructure and Real Assets for 368M USD

Acquisition Highlights
  • This is New Jersey Resources’ 1st transaction in the Utilities sector.
  • This is New Jersey Resources’ largest (disclosed) transaction.
  • This is New Jersey Resources’ 1st transaction in the United States.
  • This is New Jersey Resources’ 1st transaction in Texas.

M&A Deal Summary

Date 2019-09-05
Target Leaf River Energy Center
Sector Utilities
Buyer(s) New Jersey Resources
Sellers(s) Macquarie Infrastructure and Real Assets
Deal Type Add-on Acquisition
Deal Value 368M USD

Target

Leaf River Energy Center

Houston, Texas, United States
Leaf River Energy Center LLC engages in designing, constructing, and operating facilities that serve the interests of customers, communities, landowners, and employees while maintaining safe operations and preserving the environment. The company is strategically located in southeastern Mississippi with unique reliability capabilities and connections to six interstate pipelines. It consists of three salt dome caverns with a combined working natural gas storage capacity of 32.2 million dekatherms (MMDth).

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Buyer(S) 1

Buyer

New Jersey Resources

Wall, New Jersey, United States

Category Company
Founded 1981
Sector Utilities
Employees1,350
Revenue 2.0B USD (2023)
DESCRIPTION

New Jersey Resources provides natural gas and clean energy services, including transportation, distribution and asset management. New Jersey Resources was founded in 1981 and is based in Wall, New Jersey.


DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

DESCRIPTION

Macquarie Infrastructure and Real Assets (MIRA) is a global investor in infrastructure, real estate, agriculture, and energy assets. MIRA's infrastructure practice looks to acquire businesses such as transportation, water and energy utilities, and waste management. MIRA's real estate practice looks to acquire and develop retail, commercial, residential and industrial properties. MIRA's agriculture team looks to operate and develop agriculture businesses and farmland. MIRA's energy team seeks opportunities in upstream energy and upstream energy-related assets and businesses in the US and Canada. Macquarie Infrastructure and Real Assets is headquartered in London with additional offices throughout the world.


DEAL STATS #
Overall 4 of 11
Sector (Utilities) 2 of 2
Type (Add-on Acquisition) 1 of 4
State (Texas) 1 of 2
Country (United States) 1 of 2
Year (2019) 2 of 5
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-19 KCOM Group

Hull, United Kingdom

KCOM Group PLC is one of the UK’s longest-established telecommunications companies. In the Hull and East Yorkshire region, the business is a provider of fixed-line telecommunications infrastructure – providing voice and broadband connectivity services to approximately 140,000 households and businesses via its fiber-to-the-premises network. KCOM also offers IT and communications services to large enterprise and public sector organizations around the UK.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-30 Farnborough Airport

Hampshire, United Kingdom

Farnborough Airport Ltd. is the only dedicated business aviation airport in the United Kingdom (“UK”). The airport, which handles more than 30,000 air traffic movements each year, has facilities designed to maximize travel efficiency, reliability and customer experience for passengers traveling to London and the South East. Farnborough Airport was the world’s first dedicated business aviation airport to receive carbon neutral status from Airports Council International, and its facilities and services have seen it named Europe’s best Fixed-Based Operator (“FBO”) facility since 2005.

Buy -