Bernhard Capital Partners has agreed to pay $484 million in cash for Entergy’s gas distribution business.
Entergy Louisiana’s gas business serves some 95,000 homes and businesses in the Baton Rouge area, and Entergy New Orleans’ gas business serves 109,000 homes and businesses in New Orleans. If approved, the net proceeds from the transaction will be used to strengthen Entergy’s credit through the repayment of debt and to support the customer-centric capital needs in its growing electric utility business.
Based in Baton Rouge, La., Bernhard Capital focuses on investing in companies that provide critical services to government, infrastructure, industrial, utility and energy sectors, as well as investing in utility assets. To date, Bernhard Capital has invested in more than 65 services-focused companies across 19 platforms, including several utility companies.
“Our work is focused on strengthening businesses to, in turn, strengthen some of our country’