Northwest Natural Holding Company announced the successful closing of its acquisition of SiEnergy Operating, LLC on January 7, 2025. SiEnergy, a rapidly growing natural gas distribution utility, serves approximately 70,000 residential and commercial customers in the metropolitan areas of Houston, Dallas, and Austin, Texas.
This completion marks the integration of a high-growth asset into NW Natural Holdings' diversified portfolio, following the initial announcement in November 2024. SiEnergy is expected to have a rate base of approximately $247 million as of December 31, 2024, and has demonstrated compounded annual rate base and customer growth of 26% and 22%, respectively, over the last five years.
The acquisition is a key component of NW Natural Holdings' strategy to expand its presence in high-growth markets and is expected to contribute to the company's long-term earnings per share growth. This strategic move enhances the company's overall growth profile and diversifies its operational footprint.
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