M&A Deal Summary

Summit Utilities Acquires CenterPoint Energy - Arkansas & Oklahoma Gas Distribution Assets

On April 29, 2021, Summit Utilities acquired utilities company CenterPoint Energy - Arkansas & Oklahoma Gas Distribution Assets from CenterPoint Energy for 2.2B USD

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

M&A Deal Summary
Date 2021-04-29
Target CenterPoint Energy - Arkansas & Oklahoma Gas Distribution Assets
Sector Utilities
Buyer(s) Summit Utilities
Sellers(s) CenterPoint Energy
Deal Type Divestiture
Deal Value 2.2B USD

Target

CenterPoint Energy - Arkansas & Oklahoma Gas Distribution Assets

Houston, Texas, United States
CenterPoint’s Arkansas and Oklahoma gas distribution systems serve approximately 525,000 customers and include 17,000 miles of gas main pipeline across Arkansas, Oklahoma, and Texarkana, Texas.

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Buyer(S) 1

Buyer

Summit Utilities

Centennial, Colorado, United States
Category Company
Founded 1997
Sector Utilities
DESCRIPTION

Summit Utilities owns natural gas distribution and transmission subsidiaries that operate in Arkansas, Colorado, Maine, Missouri, and Oklahoma. The company provides safe, clean, and affordable natural gas to businesses and residents in five states through Colorado Natural Gas, Summit Natural Gas of Missouri, Inc., Summit Natural Gas of Maine, Inc., and Arkansas Oklahoma Gas Corporation. Summit Utilities was founded in 1997 and is based in Centennial, Colorado.

DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

CenterPoint Energy

Houston, Texas, United States
Category Company
Founded 1866
Sector Utilities
Employees8,827
Revenue 8.7B USD (2023)
DESCRIPTION
CenterPoint Energy's corporate headquarters in downtown Houston, Texas.
CenterPoint Energy's corporate headquarters in downtown Houston, Texas.

CenterPoint Energy is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution, and energy services operations. CenterPoint Energy owns and operates natural gas distribution systems. CenterPoint also offers variable and fixed-price physical natural gas supplies primarily to commercial and industrial customers and gas utilities. CenterPoint Energy was founded in 1866 and is based in Houston, Texas.

DEAL STATS #
Overall 4 of 5
Sector (Utilities) 2 of 3
Type (Divestiture) 4 of 5
State (Texas) 3 of 3
Country (United States) 4 of 5
Year (2021) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-02-24 CenterPoint Energy Services

Houston, Texas, United States

CenterPoint Energy Services, Inc. provides competitive natural gas sales, storage and supply, and other energy-related solutions to approximately 30,000 commercial and industrial customers, utilities and municipalities in more than 30 states.

Sell $400M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-20 CenterPoint Energy - Louisiana & Mississippi Natural Gas Distribution Operations

United States

CenterPoint Energy's Louisiana & Mississippi Natural Gas Distribution Operations provides natural gas distribution systems that serve approximately 381,000 residential and commercial customers across both states.

Sell -
Mergr

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