Delta Utilities Acquires Spire Mississippi for $75 Million

Concurrent Investment Advisors Acquires Spire Investment Partners

October 3, 2026

Wealth Management

Concurrent Investment Advisors acquired Spire Investment Partners, adding approximately $5.4 billion in assets and more than 30 advisor teams to its wealth management platform. The acquisition expands Concurrent’s footprint to 33 states and gives Spire advisors access to additional technology, centralized services, growth capital, and succession resources while preserving their practice ownership and independence.

I Squared Capital Acquires Spire Natural Gas Storage Businesses for $650 Million

June 30, 2026

Energy

Spire Inc. has completed the sale of its natural gas storage businesses in Wyoming and Oklahoma (“Spire Storage”) to I Squared Capital for $650 million. The sold assets will be rolled into I Squared’s portfolio company, Bear River Midstream LLC, with proceeds used to support Spire’s ongoing strategic focus and funding of its previously acquired Piedmont Natural Gas Tennessee business.

Boardwalk Pipelines Acquires Spire Marketing for $215 Million

March 30, 2026

Energy

Boardwalk Pipelines, LP agreed to acquire Spire Marketing Inc., Spire Inc.'s gas marketing business, for $215 million in cash. The transaction was completed on April 30, 2026, with Spire Marketing rebranded to Boardwalk Continuum Marketing, LLC.

Spire Inc. Acquires Piedmont Natural Gas Tennessee Business From Duke Energy for $2.48 Billion

July 29, 2025

Utilities

Spire Inc. has agreed to acquire Piedmont Natural Gas’ Tennessee local distribution company business from Duke Energy for $2.48 billion. The transaction expands Spire’s regulated utility footprint in the Nashville area and is expected to close in the first quarter of 2026, subject to regulatory approvals. The deal has since closed effective March 31, 2026, with the Tennessee operations operating as Spire Tennessee.

Delta Utilities (Bernhard Capital-Backed) Acquires Entergy's Natural Gas Distribution Businesses in New Orleans and East Baton Rouge Parish

July 1, 2025

Energy

Delta Utilities, a Bernhard Capital Partners portfolio company, acquired Entergy's two regulated natural gas distribution businesses serving New Orleans and East Baton Rouge Parish, adding more than 200,000 customers and approximately 200 employees. The transaction expands Delta Utilities' footprint across Louisiana and Mississippi, positioning the company to serve roughly 600,000 customers and more than 800 employees following prior platform acquisitions.

Delta Utilities Acquires CenterPoint Energy's Natural Gas Distribution Businesses in Louisiana and Mississippi

April 1, 2025

Utilities

Delta Utilities, a Bernhard Capital Partners portfolio company based in New Orleans, has completed the acquisition of CenterPoint Energy's three regulated natural gas local distribution companies serving communities across Louisiana and Mississippi. The deal transfers roughly 12,000 miles of main pipeline and about 380,000 residential and commercial customers to Delta Utilities, expanding the platform's regulated utility footprint in the Gulf South.