Summit Utilities, Inc.
Overview
| Deal Type |
Mergers & Acquisitions |
|---|---|
| Client & Transactional Partners |
Summit Utilities, Inc. J.P. Morgan Asset Management CenterPoint Energy, Inc. |
| Our Role |
Buy-Side Advisor |
Summary
On January 13, 2022, KeyBanc Capital Markets (KBCM) acted as Buy-Side Advisor to Summit Utilities, Inc. (Summit or the Company), a portfolio company of J.P. Morgan Infrastructure Investments Fund, on its acquisition of two gas distribution assets in Arkansas and Oklahoma from CenterPoint Energy, Inc. (CenterPoint). KBCM was engaged by Summit based on the strength of its longstanding relationship with the Company, deep industry expertise, and proven financial advisory capabilities and transaction experience within the sector.
The gas distribution systems included in the transaction serve approximately 525,000 customers in Arkansas, Oklahoma and Texas, and include 17,000 miles of gas main pipeline across those three states. As part of the acquisition, Summit will be welcoming nearly 600 CenterPoint team members to the company.
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