Electric Utilities M&A » By The Online Investor Staff, updated Thu., Apr. 18, 4:49 PM
Recent mergers and acquisitions in the Electric Utilities M&A category.
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Slide #5. Energy Systems Group — Chevron Energy Solutions' Federal Operations
Acquirer:
Energy Systems Group (VVC)
Acquiree:
Chevron Energy Solutions' Federal Operations (CVX)
Details:
Energy Systems Group (ESG), a leading energy services provider and subsidiary of Vectren Corporation (NYSE: VVC), announced today two major business developments. ESG has acquired the federal sector energy services unit of Chevron Energy Solutions (CES), which is owned by Chevron U.S.A., Inc.; the business unit employs 48 experienced professionals, performs under several long-term operations and maintenance contracts, and has a robust construction project sales funnel. Separately, ESG was awarded a $45 million contract with the Frederick-Winchester Service Authority (FWSA) for the design and construction of energy efficiency and infrastructure improvements at the Opequon Water Reclamation Facility in Winchester, Virginia. These developments signify ESG's strategic focus on strengthening its position as a leader in both the federal and sustainable infrastructure sectors.
Vectren is an energy holding company. Co.'s subsidiary, Vectren Utility Holdings, Inc., served as the intermediate holding company for three public utilities that provides natural gas distribution and transportation services and electric transmission and distribution services. Co., through Vectren Enterprises, Inc. subsidiary, is involved in nonutility activities in two primary business areas: infrastructure services, which provides underground pipeline construction and repair to utility infrastructure; and energy services, which assists schools, hospitals, governmental facilities, and other private institutions with reducing energy and maintenance costs through Energy Systems Group, LLC.
Open the VVC Page at The Online Investor »
Vectren is an energy holding company. Co.'s subsidiary, Vectren Utility Holdings, Inc., served as the intermediate holding company for three public utilities that provides natural gas distribution and transportation services and electric transmission and distribution services. Co., through Vectren Enterprises, Inc. subsidiary, is involved in nonutility activities in two primary business areas: infrastructure services, which provides underground pipeline construction and repair to utility infrastructure; and energy services, which assists schools, hospitals, governmental facilities, and other private institutions with reducing energy and maintenance costs through Energy Systems Group, LLC.
Open the CVX Page at The Online Investor »
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