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M&A Deal Summary

Spire Acquires MoGas

On May 25, 2023, Spire acquired utilities company MoGas from CorEnergy

Acquisition Highlights
  • This is Spire’s 4th transaction in the Utilities sector.
  • This is Spire’s 5th transaction in the United States.
  • This is Spire’s 3rd transaction in Missouri.

M&A Deal Summary
Date 2023-05-25
Target MoGas
Sector Utilities
Buyer(s) Spire
Sellers(s) CorEnergy
Deal Type Divestiture

Target

MoGas

Wentzville, Missouri, United States
MoGas consists of approximately 263 miles of interstate natural gas pipelines, primarily in Missouri, and interconnects with Spire STL Pipeline to deliver gas to Spire Missouri's growing customer base in St. Charles, Franklin and western St. Louis counties, among other utility, municipal, industrial and commercial customers. Spire MoGas Pipeline also interconnects with three other interstate pipelines and is regulated by the Federal Energy Regulatory Commission. MoGas is based in Wentzville, Missouri.

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Buyer(S) 1

Buyer

Spire

St. Louis, Missouri, United States
Category Company
Founded 1857
Sector Utilities
Employees3,475
Revenue 2.6B USD (2024)
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 5 of 6
Sector: Utilities M&A 4 of 4
Type: Divestiture M&A Deals 5 of 6
State: Missouri M&A 3 of 3
Country: United States M&A 5 of 6
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-25 Omega Pipeline

Fort Leonard Wood, Missouri, United States

Omega Pipeline is a connected gas distribution system. Omega Pipeline was formed in 1992 and is based in Fort Leonard Wood, Missouri.

Buy $175M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-07-29 Piedmont Natural Gas

Charlotte, North Carolina, United States

Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural gas to over one million residential, commercial, industrial, and power generation customers. Piedmont Natural Gas was founded in 1949 and is based in Charlotte, North Carolina.

Buy $2.5B

Seller(S) 1

SELLER

CorEnergy

Kansas City, Missouri, United States
Category Company
Sector Real Estate
Employees155
Revenue 132M USD (2023)
DESCRIPTION

CorEnergy is a REIT focused on energy infrastructure primarily owns midstream and downstream assets that perform utility-like functions, such as pipelines, storage terminals, and transmission and distribution assets. CorEnergy is based in Kansas City, Missouri.

DEAL STATS #
Overall 2 of 2
Sector: Utilities M&A 2 of 2
Type: Divestiture M&A Deals 2 of 2
State: Missouri M&A 2 of 2
Country: United States M&A 2 of 2
Year: 2023 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-25 Omega Pipeline

Fort Leonard Wood, Missouri, United States

Omega Pipeline is a connected gas distribution system. Omega Pipeline was formed in 1992 and is based in Fort Leonard Wood, Missouri.

Sell $175M
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