PORTLAND, Ore.–(BUSINESS WIRE)–Northwest Natural Holding Company today announced the closing of its acquisition of SiEnergy Operating, from SiEnergy Capital Partners. This marks the successful completion of a strategic acquisition announced in November 2024.
SiEnergy is one of the fastest growing natural gas distribution utilities in the nation, serving approximately 70,000 residential and commercial customers in the greater metropolitan areas of Houston, Dallas, and Austin (known as the Texas Triangle). SiEnergy has grown organically by providing infrastructure to residential and commercial developments in high-growth areas. As previously announced, SiEnergy is expected to have approximately $247 million in rate base as of Dec. 31, 2024 and to have achieved rate base and customer growth of 26% and 22% compounded annually, respectively, over the last five years ending in 2024.
“We are pleased to officially welcome SiEnergy to NW Natural Holdings,” said David H. Anderson, CEO of NW Natural Holdings. “I’m excited about the opportunities SiEnergy is pursuing, our shared values, and our combined capabilities. SiEnergy is well positioned for continued growth as communities and new developments in the Texas Triangle continue to expand.”
“Joining NW Natural Holdings reflects an important milestone for our company,” said June Dively, president of SiEnergy. “I’m looking forward to being part of a strong and growing company and leading the SiEnergy team in the next phase of expansion.”
“We are excited about the long-term value creation anticipated from this acquisition,” said Justin B. Palfreyman, president of NW Natural Holdings. “Through this transaction, we are increasing our presence in Texas, creating more opportunities for organic growth, and setting the stage for future growth.”
About NW Natural Holdings
Northwest Natural Holding Company, (NYSE: NWN) (NW Natural Holdings), is headquartered in Portland, Oregon and has been doing business for over 165 years. It owns Northwest Natural Gas Company (NW Natural), SiEnergy Operating, LLC (SiEnergy), NW Natural Water Company (NW Natural Water), NW Natural Renewables Holdings (NW Natural Renewables), and other business interests.
NW Natural Holdings provides critical energy and delivers essential water and wastewater services to nearly one million customers across six states. We have a longstanding commitment to safety, environmental stewardship and the energy transition, and taking care of our employees and communities. NW Natural Holdings was recognized by Ethisphere® for three years running as one of the World’s Most Ethical Companies®. NW Natural consistently leads the industry with high J.D. Power & Associates customer satisfaction scores. Learn more in our latest Community and Sustainability Report.
NW Natural is a local distribution company that currently provides natural gas service to approximately 2 million people in more than 140 communities through more than 800,000 meters in Oregon and Southwest Washington with one of the most modern pipeline systems in the nation. NW Natural owns and operates 21.6 Bcf of underground gas storage capacity in Oregon.
SiEnergy is one of the fastest growing natural gas distribution utilities in the nation, serving approximately 70,000 customers in the greater metropolitan areas of Houston, Dallas, and Austin, Texas.
NW Natural Water provides water distribution and wastewater services to communities throughout the Pacific Northwest, Texas, Arizona, and California. Today NW Natural Water serves over 189,000 people through approximately 76,100 meters. Learn more about our water business.
NW Natural Renewables is committed to leading in the energy transition by providing renewable fuels to support decarbonization in the utility, commercial, industrial and transportation sectors. Learn more about our renewable business.
Additional information is available at nwnaturalholdings.com.
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