Enbridge Acquires Public Service Company of North Carolina (PSNC) from Dominion Energy

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.

Phillips 66 Acquires Pinnacle Midstream from Energy Spectrum Capital

May 20, 2024

Energy

Phillips 66 has agreed to acquire Pinnacle Midland Parent LLC (Pinnacle Midstream II) from private equity firm Energy Spectrum Capital for $550 million to expand its natural gas gathering and processing footprint in the Midland Basin. The assets include the Dos Picos 220 MMcf/d processing plant, ~80 miles of gathering pipeline and 50,000 dedicated acres; the deal is expected to close mid‑2024 subject to customary conditions, including HSR clearance.

Pembina Pipeline Acquires Enbridge's Interests in Alliance, Aux Sable and NRGreen

April 1, 2024

Energy

Pembina Pipeline Corporation completed the previously announced acquisition of Enbridge Inc.'s interests in the Alliance Pipeline, Aux Sable and NRGreen joint ventures for approximately $3.1 billion. The deal increases Pembina's ownership of those midstream assets, was funded in part by a $1.28 billion subscription receipt offering, and prompted an upward revision to Pembina's 2024 adjusted EBITDA guidance.

Phillips 66 Increases Economic Interest in DCP Midstream

August 17, 2022

Oil & Gas

Phillips 66 realigned joint-venture interests with Enbridge to increase its economic stake in DCP Midstream, LP from 28.26% to 43.31%, and will oversee the joint venture’s interest in DCP including the General Partner. The transaction (which included a roughly $400 million cash contribution from Phillips 66 and merged Gray Oak Holdings into DCP Midstream) closed on August 17, 2022 and is intended to integrate Phillips 66’s NGL value chain from wellhead to market.

Arcline Investment Management Acquires Electric Power Systems and North American Substation Services

April 21, 2021

Infrastructure

Arcline Investment Management acquired Electric Power Systems (EPS) and North American Substation Services (NASS) from Industrial Growth Partners to create a leading electric infrastructure services platform (now branded Voltyx). Industrial Growth Partners retained a minority stake in the combined business; the deal brings together protection and control engineering, high-voltage apparatus testing, and substation maintenance capabilities to serve utilities, renewable energy, data center and commercial customers.

Energy Services of America Acquires WV Pipeline, Inc.

December 16, 2020

Industrial Services

Energy Services of America Corporation formed a wholly owned subsidiary, West Virginia Pipeline Acquisition Company, and entered an asset purchase agreement to acquire substantially all assets of WV Pipeline, Inc. for $3.5 million cash plus a $3.0 million seller note; the transaction was expected to close December 31, 2020. The acquisition expands Energy Services' capabilities and geographic presence in gas and water distribution utility services in southern West Virginia, and WV Pipeline's leadership (David and Daniel Bolton) will remain with the business.