South Jersey Industries: South Jersey Energy’s Retail Natural Gas Divested to UGI Corporation
|Deal Type||Mergers & Acquisitions|
|Client & Transactional Partners||
South Jersey Industries, Inc
UGI Energy Services
|Our Role||Exclusive Sell-Side Advisor|
On November 30, 2018, KeyBanc Capital Markets, Inc. ("KBCM”) successfully completed the sale of South Jersey Energy Company’s retail natural gas business (“SJE”), a subsidiary of South Jersey Industries, Inc. (NYSE: SJI) to UGI Energy Services a subsidiary of UGI Corporation (NYSE: UGI).
KeyBanc Capital Markets was chosen to serve as exclusive sell-side advisor based on its industry-leading Utilities practice, relationship with SJI and proven M&A execution capabilities. KBCM conducted a targeted process which resulted in a premium valuation and exceptional terms for SJI shareholders.