M&A Deal Summary

Peoples Natural Gas Acquires Equitable Gas Company

On December 17, 2013, Peoples Natural Gas acquired utilities company Equitable Gas Company from EQT for 720M USD

Acquisition Highlights
  • This is Peoples Natural Gas’ 1st transaction in the Utilities sector.
  • This is Peoples Natural Gas’ largest (disclosed) transaction.
  • This is Peoples Natural Gas’ 1st transaction in the United States.
  • This is Peoples Natural Gas’ 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2013-12-17
Target Equitable Gas Company
Sector Utilities
Buyer(s) Peoples Natural Gas
Sellers(s) EQT
Deal Type Add-on Acquisition
Deal Value 720M USD

Target

Equitable Gas Company

Pittsburgh, Pennsylvania, United States
Equitable Gas is a natural gas pipeline. Company distributes natural gas to residential, commercial, and industrial customers in southwestern Pennsylvania, north central West Virginia, and eastern Kentucky.

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Buyer(S) 1

Buyer

Peoples Natural Gas

Pittsburgh, Pennsylvania, United States
Category Company
Sector Utilities
DESCRIPTION

Peoples Natural Gas Co. is a provider of natural gas service to approximately 700,000 homes and businesses in western Pennsylvania, West Virginia and Kentucky.

DEAL STATS #
Overall 1 of 2
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (Pennsylvania) 1 of 1
Country (United States) 1 of 2
Year (2013) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-21 Delta Natural Gas

Winchester, Kentucky, United States

Delta Natural Gas Co., Inc. is a provider of premier natural gas services.

Buy -

Seller(S) 1

SELLER

EQT

Pittsburgh, Pennsylvania, United States
Category Company
Founded 1878
Sector Oil/Gas Exploration
Employees881
Revenue 5.1B USD (2023)
DESCRIPTION
Entrance to EQT's corporate headquarters in downtown Pittsburgh, Pennsylvania.
Entrance to EQT's corporate headquarters in downtown Pittsburgh, Pennsylvania.

EQT is an integrated energy company, with an emphasis on Appalachian area natural gas supply, transmission and distribution. EQT was founded in 1878 and is based in Pittsburgh, Pennsylvania.

DEAL STATS #
Overall 4 of 9
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Pennsylvania) 1 of 5
Country (United States) 4 of 9
Year (2013) 2 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-07-15 Sunrise Pipeline

United States

Sunrise Pipeline, a 41.5 miles of 24-inch diameter FERC-regulated pipeline that parallels and interconnects with the segment of the Partnership’s transmission and storage system from Wetzel County, West Virginia to Greene County, Pennsylvania.

Sell $508M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-30 EQT Gathering Jupiter Natural Gas Gathering System

Pennsylvania, United States

EQT Gathering Jupiter Natural Gas Gathering System comprises a natural gas gathering system covering an area of approximately 35 miles, with a compressor station, which has approximately 150 MMcf per day compression capacity and another compressor station, which has approximately 75 MMcf per day compression capacity.

Sell $1.1B
Mergr

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