M&A Deal Summary

NJR Energy Services Acquires Peninsula Energy Services - Mid-Atlantic Wholesale Contracts

On October 9, 2019, NJR Energy Services acquired utilities company Peninsula Energy Services - Mid-Atlantic Wholesale Contracts from Peninsula Energy Services

Acquisition Highlights
  • This is NJR Energy Services’ 1st transaction in the Utilities sector.
  • This is NJR Energy Services’ 1st transaction in the United States.
  • This is NJR Energy Services’ 1st transaction in Florida.

M&A Deal Summary

Date 2019-10-09
Target Peninsula Energy Services - Mid-Atlantic Wholesale Contracts
Sector Utilities
Buyer(s) NJR Energy Services
Sellers(s) Peninsula Energy Services
Deal Type Divestiture

Target

Peninsula Energy Services - Mid-Atlantic Wholesale Contracts

Winter Haven, Florida, United States
Peninsula Energy Services Co. Inc. (PESCO) - Mid-Atlantic Wholesale Contracts assets include Chesapeake Utilities' Delaware division, Maryland division, and Sandpiper Energy Asset Management agreements provide reliable and cost-effective supply during periods of peak demand through the utilization of the natural gas transportation and storage assets that can control.

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Buyer(S) 1

Buyer

NJR Energy Services

Wall, New Jersey, United States

Category Company
Sector Utilities
DESCRIPTION

NJR Energy Services Co. manages a diversified portfolio of natural gas transportation and storage assets and provides physical natural gas services and customized energy solutions to its customers across North America.


DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 1
State (Florida) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1

Seller(S) 1

SELLER

Peninsula Energy Services

Winter Haven, Florida, United States

Category Company
Sector Utilities
DESCRIPTION

Peninsula Energy Services Company, Inc. (PESCO) is an experienced provider of natural gas services with the capability to deliver in any market condition. PESCO integrated approach to the market means that gas producers have high-quality access to wholesale and retail markets and that wholesale and retail customers have the benefit of reaching back to the well-head for supply cutting out several unnecessary layers of cost and driving efficiencies into customer’s value chains.


DEAL STATS #
Overall 3 of 3
Sector (Utilities) 3 of 3
Type (Divestiture) 3 of 3
State (Florida) 3 of 3
Country (United States) 3 of 3
Year (2019) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-09 Peninsula Energy Services - Florida Retail Operations

Winter Haven, Florida, United States

Peninsula Energy Services Co. Inc. (PESCO) - Florida Retail Operations provide clear, accurate and timely billing along with a wide variety of supply and pricing options.

Sell -