M&A Deal Summary

Ullico Acquires Hope Gas

On February 11, 2022, Ullico acquired utilities company Hope Gas from Dominion Energy for 690M USD

Acquisition Highlights
  • This is Ullico’s 1st transaction in the Utilities sector.
  • This is Ullico’s 2nd largest (disclosed) transaction.
  • This is Ullico’s 2nd transaction in the United States.
  • This is Ullico’s 1st transaction in West Virginia.

M&A Deal Summary
Date 2022-02-11
Target Hope Gas
Sector Utilities
Buyer(s) Ullico
Sellers(s) Dominion Energy
Deal Type Divestiture
Deal Value 690M USD

Target

Hope Gas

Clarksburg, West Virginia, United States
Hope Gas provides reliable and affordable natural gas, safely, to the people and businesses of the Mountain State. It has been a pioneer in the natural gas sector, taking part in the construction of one of America's first interstate pipelines, which originated in Wetzel County, and building the country's first extraction plant at Hastings. Hope Gas was formed in 1898 and is based in Clarksburg, West Virginia.

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Buyer(S) 1

Buyer

Ullico

Washington, District of Columbia, United States
Category Company
Founded 1927
Sector Financial Services
DESCRIPTION

Ullico is a labor-owned insurance and investment company that provides insurance and investment solutions for labor organizations, union employers, institutional investors, and union members. Ullico's products are tailored to promote financial security and stability for American workers. Ullico was founded in 1927 and is based in Washington, District of Columbia.

DEAL STATS #
Overall 2 of 2
Sector (Utilities) 1 of 1
Type (Divestiture) 2 of 2
State (West Virginia) 1 of 1
Country (United States) 2 of 2
Year (2022) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 Centrio Energy

Chicago, Illinois, United States

Centrio Energy is a provider of district energy platform in the U.S., offering centralized cooling, heating, and power solutions. Centrio Energy is based in Chicago, Illinois.

Buy $950M

Seller(S) 1

SELLER

Dominion Energy

Richmond, Virginia, United States
Category Company
Founded 1983
Sector Utilities
Employees17,700
Revenue 14.4B USD (2023)
DESCRIPTION
Dominion's corporate headquarters in downtown Richmond, Virginia.
Dominion's corporate headquarters in downtown Richmond, Virginia.

Dominion Energy is a producer and transporter of energy, with a portfolio of approximately 25,700 megawatts of electric generation, 15,000 miles of natural gas transmission, gathering, storage, and distribution pipeline, and 6,600 miles of electric transmission and distribution lines. Dominion Energy was founded in 1983 and is based in Richmond, Virginia.

DEAL STATS #
Overall 10 of 12
Sector (Utilities) 4 of 5
Type (Divestiture) 10 of 12
State (West Virginia) 1 of 1
Country (United States) 10 of 12
Year (2022) 1 of 1
Size (of disclosed) 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-17 Cypress Creek Renewables - Central Virginia Solar Project

Santa Monica, California, United States

Cypress Creek Renewables, LLC - Central Virginia Solar Project is a 62.5-megawatt (AC) Madison Solar generating facility.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-05 Dominion East Ohio

Cleveland, Ohio, United States

Dominion East Ohio which serves more than 1.2 million customers across more than 400 communities and 27 counties in Ohio. Dominion East Ohio is based in Cleveland, Ohio.

Sell -
Mergr

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