M&A Deal Summary

PPL Acquires Rhode Island Energy

On March 18, 2021, PPL acquired utilities company Rhode Island Energy from National Grid for 3.8B USD

Acquisition Highlights
  • This is PPL’s 3rd transaction in the Utilities sector.
  • This is PPL’s largest (disclosed) transaction.
  • This is PPL’s 4th transaction in the United States.
  • This is PPL’s 1st transaction in Rhode Island.

M&A Deal Summary
Date 2021-03-18
Target Rhode Island Energy
Sector Utilities
Buyer(s) PPL
Sellers(s) National Grid
Deal Type Divestiture
Deal Value 3.8B USD

Target

Rhode Island Energy

Providence, Rhode Island, United States
Rhode Island Energy is a utility company that provides distributes, transmits, and generates electricity. Rhode Island Energy is based in Providence, Rhode Island.

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Buyer(S) 1

Buyer

PPL

Allentown, Pennsylvania, United States
Category Company
Founded 1920
Sector Utilities
Employees6,629
Revenue 8.3B USD (2023)
DESCRIPTION

PPL delivers electricity and natural gas to about 10 million customers in the United States and the United Kingdom, owns more than 18,000 megawatts of generating capacity in the United States and sells energy in key U.S. markets. PPL was founded in 1920 and is based in Allentown, Pennsylvania.

DEAL STATS #
Overall 4 of 5
Sector (Utilities) 3 of 4
Type (Divestiture) 3 of 4
State (Rhode Island) 1 of 1
Country (United States) 4 of 4
Year (2021) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-18 Western Power Distribution

Bristol, United Kingdom

Western Power Distribution is the electricity distribution network operator for the Midlands, South West England, and South Wales, serving 7.9 million customers. It ensures the power network of poles and pylons, cables, wires, and substations delivers electricity to homes and businesses around-the-clock. Western Power Distribution is based in Bristol, United Kingdom.

Sell £7.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-22 National Grid - Rhode Island Utility

London, United Kingdom

National Grid's Rhode Island Utility is a provider of Utilities services in London, United Kingdom.

Buy -

Seller(S) 1

SELLER

National Grid

London, United Kingdom
Category Company
Founded 1990
Sector Energy Services and Equipment
Employees31,425
Revenue 19.9B GBP (2024)
DESCRIPTION

National Grid is an electricity and gas company that connects consumers to energy sources through its networks. National Grid was founded in 1990 and is based in London, the United Kingdom.

DEAL STATS #
Overall 5 of 7
Sector (Utilities) 2 of 3
Type (Divestiture) 3 of 5
State (Rhode Island) 1 of 1
Country (United States) 4 of 4
Year (2021) 1 of 2
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-18 Western Power Distribution

Bristol, United Kingdom

Western Power Distribution is the electricity distribution network operator for the Midlands, South West England, and South Wales, serving 7.9 million customers. It ensures the power network of poles and pylons, cables, wires, and substations delivers electricity to homes and businesses around-the-clock. Western Power Distribution is based in Bristol, United Kingdom.

Buy £7.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-22 National Grid - Rhode Island Utility

London, United Kingdom

National Grid's Rhode Island Utility is a provider of Utilities services in London, United Kingdom.

Sell -
Mergr

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