Gas South has closed its previously announced acquisition of Infinite Energy. The acquisition was supported by a revolving credit facility jointly led by Truist Securities and J.P. Morgan Chase Bank. Financial terms of the deal were not disclosed.
The deal includes Infinite’s wholesale and retail natural gas business and customer list, located primarily in Georgia and Florida. Gas South expects the acquisition to more than double its annual revenue to nearly $1 billion, and to expand its customer base to more than 425,000 residential, commercial, industrial and wholesale customers throughout the southeastern United States.
Gas South’s headquarters will remain in Atlanta, but the company expects to retain a presence in Gainesville, Fla., where Infinite was founded in 1994. Scott Thomas, former CFO of Infinite Energy, will become president of the wholly-owned subsidiary of Gas South. The other fiv
