Companies
Eversource Energy Acquires Aquarion Water Company
In an acquisition that will combine New England’s largest energy company with the region’s largest private water company, Eversource Energy has reached an agreement to acquire Aquarion Water Company for an enterprise value of $1.675 billion, comprised of $880 million in cash and $795 million of assu..
John Deere to Acquire the Wirtgen Group
Deere & Company has signed a definitive agreement to acquire the Wirtgen Group, a privately-held international company that is the leading manufacturer worldwide of road construction equipment. The purchase price is EUR 4.357 billion in an all-cash transaction. The total transaction value is approxi..
Carolina Underground Solutions Acquired by Ex-CEO of South Carolina Telecom Contractor
Carolina Underground Solutions, a contractor providing drilling, boring, and trenching services for the installation of underground telecommunications cabling, has been acquired by Braddock Cunningham, former CEO of Network Controls and Electric, a telecommunications contractor in South Carolina. “T..
Primoris Services Corporation Acquires Florida Gas Contractors
Primoris Services Corporation has acquired the assets of Florida Gas Contractors, a utility contractor specializing in underground natural gas infrastructure. Total consideration was approximately $33 million paid in cash at closing. Florida Gas Contractors can also receive an additional $1.5 millio..
Report: M&A Appetite Hits Seven-Year High in Power and Utilities Sector
Fifty-nine percent of power and utilities executive respondents expect to actively pursue an acquisition in the next 12 months, according to the latest biannual EY Power & Utilities Capital Confidence Barometer. That demonstrates a 12% increase in M&A appetite since the last Barometer (47%), and a..
ESCO Technologies Acquires Global Utility Solutions Provider
ESCO Technologies Inc. has acquired Morgan Schaffer Inc., a global utility solutions provider whose products are sold in over 90 countries to both electrical utilities with generation and transmission assets and original equipment manufacturers of large transmission transformers. The business, which..
Global Water Resources Acquires Eagletail Water Company
Global Water Resources, Inc. has acquired Eagletail Water Company, a small water utility located west of metropolitan Phoenix. The transaction adds approximately 50 active water connections and six square miles of approved service area to Global Water’s existing regional service footprint. The acqui..
Corporation Commission Rejects Utilities' Plea for More Time
TOPEKA, Kan. (AP) — The Kansas Corporation Commission won’t allow Westar Energy and Great Plains Energy extra time to renegotiate a new merger. After the commission in April rejected the proposed merger, the two companies filed a petition asking for extra time to revise the deal to meet commissio..
Helmerich & Payne to Acquire MOTIVE Drilling Technologies
Helmerich & Payne, Inc. has entered into an agreement to acquire MOTIVE Drilling Technologies, Inc. for $75 million payable at closing and up to an additional $25 million in potential earnout payments based on future performance during the next few years. The transaction is pending and is expected ..
Missouri American Water Acquires Water, Wastewater Systems
Missouri American Water has acquired the Wardsville water and wastewater systems for $2.75 million. Customers in Wardsville, located just south of Jefferson City, will have their meters changed beginning today and should receive their first invoice from Missouri American Water the week of June 26. W..
Verizon to Accelerate Next-Gen Broadband Deployment with $3.1 Billion Acquisition
To scale and accelerate deployment of next-generation broadband services throughout the United States, Verizon Communications Inc. has agreed to acquire Straight Path Communications Inc. Verizon will purchase Straight Path for $184.00 per share, or a total consideration of $3.1 billion, in an all-st..
Evoqua Acquires Noble Water Technologies
Evoqua Water Technologies today announced it has signed a definitive agreement to acquire privately held Noble Water Technologies. Terms of the asset agreement were not disclosed. Noble Water Technologies serves the pharmaceutical, laboratory, food and beverage, automotive, specialty chemical, and p..
Kansas Regulators Asked to Reconsider Rejection of Utility Sale
TOPEKA, Kan. (AP) — Kansas regulators are being asked to reconsider their rejection of the proposed sale of the state’s largest electric company to a Missouri firm. Kansas City, Missouri-based Great Plains Energy Inc. and Topeka-based Westar Energy Inc. announced Thursday that they made the reque..
Gulf Publishing Company Acquires 109-Year-Old Oildom Publishing
Creates Largest Energy Media Company Serving Upstream, Midstream, Downstream Sectors Gulf Publishing Company announced today the acquisition of Oildom Publishing Company of Texas, Inc. to create the world’s largest independent media company devoted exclusively to the international energy industry. ..
California American Water to Acquire Fruitridge Vista Water Company
California American Water has entered into an agreement to acquire the operating assets of the Fruitridge Vista Water Company for $20.75 million. Fruitridge Vista is a family owned Class B Water Utility in south Sacramento County and is regulated by the California Public Utilities Commission. Fruitr..
Kansas Regulators Reject $12.2B Utility Merger
TOPEKA, Kan. (AP) – Kansas regulators on Wednesday rejected the proposed sale of the state’s largest electric company to a Missouri firm, concluding that the $12.2 billion price was too high and would leave the combined utility financially weaker than the separate companies. The Kansas Corporation C..
Texas Electric Regulators Nix $18B Oncor Sale
AUSTIN, Texas (AP) — Texas regulators have rejected the proposed more than $18 billion sale of Dallas-based Oncor Electric Delivery Co. to NextEra Energy Inc. The three-member Public Utility Commission of Texas on Thursday unanimously declined to accept the agreement as being in the public interest ..
American Water Acquires Shorelands Water Company
American Water has completed its acquisition of the Shorelands Water Company, a privately owned water utility that provides water services to more than 11,000 customers in Monmouth County, N.J. The acquisition was approved by the New Jersey Board of Public Utilities on March 24, 2017. The purchased ..
Illinois American Water Acquires Water System
Illinois American Water has officially acquired the Village of Sadorus water system, which will be incorporated into the company’s Champaign County District. The Village of Sadorus Board voted in favor of the sale in April 2016 and the Illinois Commerce Commission approved the sale for $240,000 on F..
Maine Utility Regulators to Consider $1.5B FairPoint Sale
AUGUSTA, Maine (AP) — Maine utility regulators are ready to delve into details of the proposed $1.5 billion sale of FairPoint Communications, the country’s eighth-largest phone and internet company. Consolidated Communications, based in Illinois, announced in December it was buying FairPoint, assumi..
Forterra Acquires Royal Enterprises America
Forterra, Inc., a leading manufacturer of water infrastructure pipe and products in the United States and Eastern Canada, has acquired the business of Royal Enterprises America, a manufacturer of concrete drainage pipe, precast concrete products, stormwater treatment technologies and erosion control..
Utilities Move to Save Merger Amid Criticism
TOPEKA, Kan. (AP) — A Missouri-based utility sought Monday to rescue its proposal to buy Kansas’ largest electric company amid strong criticism that their $12.2 billion deal is too rich and would create a larger but financially weakened firm with consumers on the hook for its problems. An attorney r..
Interior Gas Utility Board Approves Merger
FAIRBANKS, Alaska (AP) — The board of directors for Interior Gas Utility has agreed to purchase Fairbanks Natural Gas from the state for more than $58 million. As part of the deal approved Tuesday, Interior Gas Utility would also get a processing plant in Point Mackenzie and transportation trucks. T..
Pennsylvania American Water Acquires Scranton Wastewater System
Pennsylvania American Water, a wholly owned subsidiary of American Water, has completed the acquisition of the wastewater system assets of the Scranton Sewer Authority (SSA). The purchase price is approximately $195 million. The newly acquired system provides wastewater service to approximately 31,0..
Algonquin Power & Utilities Corp. Acquires the Empire District Electric Company
Algonquin Power & Utilities Corp. has announced that a subsidiary of Liberty Utilities Co., Algonquin Power & Utilities Corp. wholly-owned regulated utility business, successfully completed its acquisition of the Empire District Electric Company for an aggregate purchase price of approximately C..
CenterPoint to Acquire Atmos Energy's Retail Energy Services Business
CenterPoint Energy Services, Inc., an indirect, wholly-owned subsidiary of CenterPoint Energy, Inc. has signed an agreement to acquire Atmos Energy’s retail energy services business, Atmos Energy Marketing, LLC. The purchase price for the acquisition is $40 million plus working capital subject t..
Pennsylvania PUC Grants Conditional Approval for Sale of Scranton Sewer System to Pennsylvania-American Water Company
The Pennsylvania Public Utility Commission has granted conditional approval of a Joint Application filed by Pennsylvania-American Water Company and the Sewer Authority of the City of Scranton for the sale of substantially all of the Sewer Authority of the City of Scranton’s Sewer System and Sewage T..
HammerHead Trenchless Acquires RS Lining Systems
HammerHead Trenchless, a Charles Machine Works company, has announced the acquisition of RS Lining Systems LLC, the provider of RS Technik pipe rehabilitation solutions in the Americas. This acquisition will allow HammerHead to better serve customers across the underground infrastructure rehabilitat..
Enbridge to Acquire Spectra Energy for $28 Billion
NEW YORK (AP) — Canada’s Enbridge is buying Houston-based Spectra Energy for about $28 billion, creating North America’s largest energy infrastructure company. Both companies operate pipelines that deliver oil and natural gas. Under the terms of the deal announced Tuesday, Spectra Energy shareholder..
EPCOR USA Acquires 130 Pipeline
EPCOR Water (USA) Inc., a wholly owned subsidiary of EPCOR Utilities Inc. has acquired the 130 Pipeline, a 53-mile wholesale water supply pipeline that delivers groundwater from Burleson County to eastern Travis County in the northeastern Austin, Texas metropolitan area. EPCOR USA purchased the ..
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