Gas Utilities M&A » By The Online Investor Staff, updated Fri., Jan. 15, 3:46 PM
Recent mergers and acquisitions in the Gas Utilities M&A category.
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Slide #11. Star Gas Partners, L.P. — Griffith Energy Services, Inc.
Acquirer:
Star Gas Partners, L.P. (NYSE:SGU)
Acquiree:
Griffith Energy Services, Inc.
Details:
CH Energy Group, Inc. (CH Energy Group), indirect wholly owned subsidiary of Fortis Inc. (TSX:FTS.CA), announced today it has entered into a definitive agreement under which subsidiary Griffith Energy Services, Inc. (Griffith) will be acquired by Star Gas Partners, L.P. (Star Gas) (NYSE:SGU).
Star Group is a home heating oil and propane distributor and services provider. Co. sells home heating oil and propane to full service residential and commercial customers and on a delivery only basis. Co. also sells gasoline and diesel fuel to customers. Co. installs, maintains, and repairs heating and air conditioning equipment and to a lesser extent provides these services outside its heating oil and propane customer base including service contracts for natural gas and other heating systems. Co. conducts its business through an operating subsidiary, Petro Holdings, Inc., utilizing several local brand names, such as Petro Home Services, Meenan, and Griffith Energy Services, Inc.
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