M&A Deal Summary

UGI Acquires Totalgaz Italia S.r.l.

On October 5, 2017, UGI acquired utilities company Totalgaz Italia S.r.l. from TotalEnergies and ERG

Acquisition Highlights
  • This is UGI’s 2nd transaction in the Utilities sector.
  • This is UGI’s 1st transaction in Italy.

M&A Deal Summary

Date 2017-10-05
Target Totalgaz Italia S.r.l.
Sector Utilities
Buyer(s) UGI
Sellers(s) TotalEnergies
ERG
Deal Type Divestiture

Target

Totalgaz Italia S.r.l.

Rome, Italy
Totalgaz Italia S.r.l. serves approximately 65,000 customers in the northern region of Italy, the 9th largest economy in the world, primarily for space heating and industrial applications.

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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 5 of 8
Sector (Utilities) 2 of 3
Type (Divestiture) 3 of 4
Country (Italy) 1 of 1
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-05 DVEP Investeringen B.V.

Hengelo, Netherlands

DVEP Investeringen B.V. markets natural gas and electricity, produced mainly from renewable sources, primarily to small and medium enterprises in the Netherlands.

Buy -
FOLLOWING 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 -

Seller(S) 2

SELLER

TotalEnergies

Courbevoie, France

Category Company
Founded 1924
Sector Oil/Gas Exploration
Employees102,579
Revenue 218.9B USD (2023)
DESCRIPTION

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables, and electricity. TotalEnergies was founded in 1924 and is based in Courbevoie, France.


DEAL STATS #
Overall 5 of 11
Sector (Utilities) 1 of 1
Type (Divestiture) 5 of 9
Country (Italy) 1 of 1
Year (2017) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-19 GreenFlex SAS

Paris, France

GreenFlex SAS is an independent company, GreenFlex has been convinced since 2009 that businesses should make a positive contribution to the major transitions under way. The group helps accelerate the transition and reduce environmental and societal costs with a view to tackling the major challenges facing businesses, offering support from developing strategy to taking action for a future of optimal performance, a “Good Future.”

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-10 WayKonect

Lille, France

WayKonect is a provider of digital management tools for corporate vehicle fleets to enable them to control their fleet remotely and in real time. WayKonect was founded in 2014 and is based in Lille, France.

Buy -
SELLER

ERG

Genoa, Italy

Category Company
Founded 1938
Sector Utilities
Employees804
Revenue 741M EUR (2023)
DESCRIPTION

ERG is an independent operator of clean energy from renewable sources. ERG was founded in 1938 and is based in Genoa, Italy.


DEAL STATS #
Overall 1 of 2
Sector (Utilities) 1 of 1
Type (Divestiture) 1 of 2
Country (Italy) 1 of 1
Year (2017) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-08 ERG - Brockaghboy Wind Farm

Coleraine, United Kingdom

Brockaghboy is located approximately 30 miles east of Londonderry in Northern Ireland and has a capacity of 47.5MW. Brockaghboy was originally developed by TCI Renewables Limited ("TCI") and constructed by ERG with support from TCI. The wind farm is accredited to receive 0.9 ROCs per MWh from August 2017 and was fully commissioned in February 2018. The forecast net load factor is 40.5%.

Sell £163M