Delta Utilities Acquires CenterPoint Energy's Natural Gas Assets
Delta Utilities, a prominent player in the regulated natural gas utility sector and a valued member of the Bernhard Capital Partners portfolio, has recently completed a significant acquisition. The company announced it has successfully acquired CenterPoint Energy's three regulated natural gas local distribution companies. This strategic move marks a major step forward in enhancing Delta Utilities' operations, enabling them to serve a larger community across multiple states.
Details of the Acquisition
The acquisition encompasses about 12,000 miles of main pipeline that provide essential gas services to nearly 380,000 residential and commercial customers. With this infrastructure now under its management, Delta Utilities is well-equipped to meet the growing energy needs of its customers while ensuring the delivery of reliable service. Headquartered in a key location, Delta Utilities will harness these additional resources to strengthen its position in the market.
Strategic Vision and Community Impact
Investment in Resilient Infrastructure
Jeff Jenkins, the Founder and Partner at Bernhard Capital, expressed enthusiasm regarding the acquisition, highlighting its strategic implications. "We are thrilled to finalize the acquisition of these natural gas utilities, which provide vital energy service to major markets across both states," Jenkins noted. This acquisition aligns perfectly with the company’s objective to invest in regulated utilities and vital infrastructure, reinforcing the idea that natural gas is a crucial element in building resilient communities.
Role of Natural Gas in Energy Infrastructure
Natural gas plays an essential role in the energy portfolio of our nation. It is recognized for its effectiveness in generating power, its environmental benefits compared to other fossil fuels, and its ability to provide a dependable energy source. Delta Utilities aims to serve as a catalyst for economic growth in the areas it serves while providing a promise of safety and reliability to its customers.
About Bernhard Capital Partners
Bernhard Capital Partners has carved a niche as a leading private equity management firm focused on services and infrastructure. Founded in 2013, the firm has successfully managed approximately $5 billion in assets, backing five funds across diverse strategies. The firm is dedicated to generating sustainable value by leveraging its expertise in the acquisition, operation, and expansion of services and infrastructure enterprises.
For Media Inquiries
For media inquiries regarding this acquisition, individuals can reach out to Ed Trissel, Erik Carlson, or Madeline Jones. Additionally, they can contact Joele Frank at Wilkinson Brimmer Katcher, where further details will be provided regarding implications of this acquisition and future plans.
Frequently Asked Questions
What is the significance of this acquisition for Delta Utilities?
This acquisition allows Delta Utilities to expand its service area and infrastructure significantly, providing better service to a larger population.
How many customers will be served after the acquisition?
Delta Utilities will serve approximately 380,000 residential and commercial customers following the completion of this acquisition.
What is the strategic vision behind the acquisition?
The vision is to integrate essential gas services effectively while reinforcing the infrastructure required to support resilient community development.
Who can be contacted for more media information?
Media inquiries can be directed to Ed Trissel, Erik Carlson, or Madeline Jones, with further assistance from Joele Frank at Wilkinson Brimmer Katcher.
When did the acquisition take place?
The acquisition was announced and completed recently, marking a pivotal moment for Delta Utilities.
