Public Company Energy

Northwest Natural Holdings

Portland, Oregon, United States

Public utility holding company (NYSE: NWN) with regulated natural gas distribution operations and water and wastewater utility businesses. Its operating companies serve residential, commercial, and community customers across multiple U.S. states.

Focus Areas
Natural gas distribution, Water utility operations, Wastewater services

Tracked deals

7

7 tracked deals across 2021-2025.

Recent pace

0

0 tracked deals announced in the last 12 months.

Deal mix

Buyout

4 buyout · 1 addon · 1 divestiture

Northwest Natural Holdings Acquisition Volume by Year

Last 4 years

Acquisition volume by year Annual acquisition counts for the last 4 years for Northwest Natural Holdings. 2 2021 2 2022 1 2023 2 2025

Supporting Data

Recent Transactions

  • Buyer
    SiEnergy Operating (SiEnergy), Northwest Natural Holding Company (NW Natural Holdings)
    Target
    Hughes Gas Resources, Inc. (EPCOR Texas Gas)
    Seller
    EPCOR USA Inc.
    Industry
    Energy
    Type
    Buyout

    SiEnergy Operating, a wholly owned subsidiary of Northwest Natural Holding Company, has agreed to acquire 100% of Hughes Gas Resources, Inc. (EPCOR Texas Gas) from EPCOR USA for $60 million. The deal is expected to close in the second quarter of 2025 as SiEnergy expands its natural gas utility presence in the Houston metro area.

  • Buyer
    Northwest Natural Holding Company
    Target
    SiEnergy Operating, LLC
    Seller
    SiEnergy Capital Partners, LLC, Ridgewood Infrastructure (80% interest via SiEnergy Capital Partners affiliate)
    Industry
    Utilities
    Location
    United States
    Type
    Buyout

    Northwest Natural Holding Company (NYSE: NWN) entered into an agreement to acquire SiEnergy Operating, LLC from SiEnergy Capital Partners, LLC for $273 million in cash plus the assumption of $152 million of debt. Ridgewood Infrastructure announced the successful sale of its 80% interest in SiEnergy to Northwest Natural.

  • Buyer
    NW Natural Water Company, LLC, Northwest Natural Holding Company
    Target
    Rose Valley Water Company
    Seller
    Gary Brasher (president and owner of Rose Valley Water)
    Industry
    Utilities
    Type
    Buyout

    NW Natural Water Company, a wholly-owned subsidiary of Northwest Natural Holding Company, completed the acquisition of Rose Valley Water Company, a family-owned water utility serving approximately 2,400 connections in Peoria, Arizona. The transaction closed on October 2, 2023, giving NW Natural Water an initial footprint in Maricopa County and positioning the company for further growth in Arizona.

  • Buyer
    NW Natural Water Company, LLC, Northwest Natural Holding Company
    Target
    Far West Water & Sewer, Inc. (water and wastewater utilities, doing business as Foothills Utilities)
    Seller
    Far West Water & Sewer, Inc.
    Industry
    Utilities

    NW Natural Water Company, a subsidiary of Northwest Natural Holding Company, has completed the acquisition of the water and wastewater utilities of Far West Water & Sewer, Inc., serving the Foothills area of Yuma, Arizona. The acquired utilities (doing business as Foothills Utilities) serve roughly 25,000 connections and employ about 40 people; the deal expands NW Natural Water's operations into Arizona.

  • Buyer
    NW Natural Water Company, LLC, Northwest Natural Holding Company
    Target
    Northwest Water Services, Aquarius Utilities
    Industry
    Utilities
    Type
    Buyout

    NW Natural Water Company, LLC (a subsidiary of Northwest Natural Holding Company) signed agreements to acquire Northwest Water Services and Aquarius Utilities, which together serve about 1,400 connections in Washington near its existing Cascadia Water footprint. The deals are subject to customary closing conditions, including Washington Utilities and Transportation Commission approval, and are expected to close in 2022.

  • Buyer
    NW Natural Water Company, LLC, Northwest Natural Holding Company (wholly-owned subsidiary relationship)
    Target
    Avion Water Company, Inc.
    Industry
    Infrastructure

    NW Natural Water Company, a wholly owned subsidiary of Northwest Natural Holding Company, has agreed to purchase an ownership stake in Avion Water Company, the largest investor-owned water utility in Oregon. The transaction is expected to close in December 2021, with Avion Water’s existing management team continuing to run day-to-day operations.

  • Buyer
    NW Natural Water Company, LLC, Northwest Natural Holding Company
    Target
    Morning View Water Company, Del Bay Association, Troy Hoffman Water Corporation, Belle Oaks Water & Sewer Co., Pelican Point Water Co.
    Industry
    Utilities
    Location
    United States
    Type
    Addon

    NW Natural Water Company, a subsidiary of Northwest Natural Holding Company, completed acquisitions of Morning View Water Company and Del Bay Association and signed agreements to acquire Troy Hoffman Water Corporation, Belle Oaks Water & Sewer Co., and Pelican Point Water Co. These tuck-in deals expand NW Natural Water’s footprint across Idaho, Washington and Texas and will increase its total served population and connections as part of a disciplined inorganic growth strategy.

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