Unitil's Strategic Acquisition Enhances Natural Gas Operations

Author: Logan Wright Updated: 10-31-2025 05:00 PM

Unitil Completes Acquisition of Maine Natural Gas Company

Unitil Corporation (NYSE: UTL) has recently announced the successful completion of its purchase of Maine Natural Gas Company from Avangrid Enterprises, Inc. This strategic acquisition was first revealed back in April 2025 and has now fully come to fruition following the necessary approvals from the appropriate regulatory bodies.

Expansion of Service Area

Maine Natural, which commenced operations in 1999, serves around 6,300 customers in the Greater Portland area and Augusta. Its gas distribution infrastructure spans approximately 230 miles of distribution mains, setting the stage for continued growth and service enhancements. With this acquisition, Unitil's customer base now includes approximately 213,300 clients across Maine, New Hampshire, and Massachusetts.

Comments from Unitil's Leadership

Thomas P. Meissner, Jr., the Chairman and CEO of Unitil, expressed enthusiasm about integrating Maine Natural into their existing operations. He stated, "Maine Natural Gas Company is highly complementary to our existing natural gas distribution operations in Maine. Their dedicated team is committed to delivering safe and reliable energy, a value we also share. We are eager to work together to provide high-quality service to the communities we serve."

Financial Overview of the Acquisition

The purchase price for Maine Natural was set at $86 million, with an additional approximately $7.1 million estimated for working capital and convenience assets. To finance this transaction, Unitil obtained a term loan from Scotiabank, ensuring that the company maintains its financial health while growing its service capabilities.

About Unitil Corporation

Unitil Corporation is a dedicated provider of energy solutions, focusing on the safe and reliable delivery of electricity and natural gas in New England. The organization prides itself on its commitment to the communities it serves, advocating for innovative business practices and technologies to enhance energy efficiency and reliability. With the addition of Maine Natural, Unitil's utilities now cater to over 200,000 customers, reinforcing its position as a leading energy utility in the region.

Frequently Asked Questions

What was the acquisition price for Maine Natural Gas Company?

The acquisition price was set at $86 million, along with an estimated $7.1 million for working capital.

How many customers does Unitil serve after the acquisition?

After acquiring Maine Natural, Unitil serves around 213,300 customers in total across its service areas.

When did Maine Natural Gas Company start operations?

Maine Natural commenced operations in 1999 and has been serving customers since then.

Who is the CEO of Unitil Corporation?

The current CEO of Unitil Corporation is Thomas P. Meissner, Jr.

What types of energy does Unitil deliver?

Unitil delivers both electricity and natural gas to its customers across New England.

About The Author

Dedicated Author and financial expert Logan Wright here, 29 years old. After earning an economics degree, I spent a number of years working in different financial industries. My great passion is enabling everyone, from any background or experience level, to understand and be literate in financial matters.

My books and writings are centered on simplifying difficult financial ideas into doable, understandable guidance. Whether it's retirement planning, investing, or budgeting, I want to arm readers with the information they need to make wise financial choices and realize their financial objectives.

Apart from writing, I also frequently post to financial blogs and organize webinars and workshops targeted at enlightening participants about personal finance. Always, my strategy is to offer concise, doable advice that can truly improve people's lives.

Away from work, I like to read, travel, and sample new foods. My goal is to infuse everything I do with the balance that I think is essential to both financial and personal well-being. By my profession, I want to encourage and enable people to confidently and clearly take charge of their financial futures.

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