M&A Deal Summary

UGI Acquires Columbia Midstream Group

On July 2, 2019, UGI acquired energy services and equipment company Columbia Midstream Group from TC Energy for 1.3B USD

Acquisition Highlights
  • This is UGI’s 2nd transaction in the Energy Services and Equipment sector.
  • This is UGI’s largest (disclosed) transaction.
  • This is UGI’s 2nd transaction in the United States.

M&A Deal Summary
Date 2019-07-02
Target Columbia Midstream Group
Sector Energy Services and Equipment
Buyer(s) UGI
Sellers(s) TC Energy
Deal Type Divestiture
Deal Value 1.3B USD

Target

Columbia Midstream Group

United States
Columbia Midstream Group LLC holds five gathering systems, with capacity of roughly 2,675,000 MMBtu/day and 240 miles of pipeline, located in the southwestern core of the Appalachian Basin.

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Buyer(S) 1

Buyer

UGI

King of Prussia, Pennsylvania, United States
Category Company
Founded 1882
Sector Utilities
Employees11,300
Revenue 8.9B USD (2023)
DESCRIPTION

UGI is a distributor and marketer of energy products and services. Through subsidiaries, UGI operates natural gas and electric utilities in Pennsylvania, distributes propane both domestically and internationally, manages midstream energy and electric generation assets in Pennsylvania, and engages in energy marketing in the Mid-Atlantic region. UGI was founded in 1882 and is based in King of Prussia, Pennsylvania.

DEAL STATS #
Overall 7 of 8
Sector (Energy Services and Equipment) 2 of 2
Type (Divestiture) 4 of 4
Country (United States) 2 of 3
Year (2019) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-02 AmeriGas Partners

King of Prussia, Pennsylvania, United States

AmeriGas Partners LP is a retail propane distributor in the United States. The Partnership serves over 1.8 million residential, commercial, industrial, agricultural, wholesale and motor fuel customers in all 50 states from approximately 1,900 propane distribution locations. AmeriGas Partners LP was formed in 1994 and is headquartered in King of Prussia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-30 Mountaineer Gas

Charleston, West Virginia, United States

Mountaineer Gas Co. is an independently operating, regulated local gas distribution company. Mountaineer serves nearly 215,000 customers across 50 of the state’s 55 counties. Mountaineer Gas was founded in 1957 and is based in Charleston, West Virginia.

Buy $540M

Seller(S) 1

SELLER

TC Energy

Calgary, Alberta, Canada
Category Company
Founded 1951
Sector Energy Services and Equipment
Employees7,000
Revenue 15.9B CAD (2023)
DESCRIPTION

TC Energy is a provider of energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TC Energy was incorporated in 1951 and is based in Calgary, Alberta.

DEAL STATS #
Overall 3 of 4
Sector (Energy Services and Equipment) 2 of 3
Type (Divestiture) 1 of 2
Country (United States) 1 of 1
Year (2019) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-17 Columbia Pipeline Group

Houston, Texas, United States

Columbia Pipeline Group, Inc. is an operator of approximately 15,000 miles of strategically located interstate pipeline, gathering and processing assets extending from New York to the Gulf of Mexico, including an extensive footprint in the Marcellus and Utica Shale production areas.

Buy $13.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-26 Coastal GasLink

Vancouver, British Columbia, Canada

Coastal GasLink transports natural gas to the approved LNG Canada facility near Kitimat. Coastal GasLink Pipeline Project involves the estimated CAD $6.6 billion construction of 670 kilometers (416 miles) of the natural gas pipeline and associated facilities. Coastal GasLink is based in Vancouver, British Columbia.

Sell -
Mergr

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