Northwest Natural Holding Co. has agreed to acquire SiEnergy Operating, one of the fastest growing natural gas distribution utilities in the United States. SiEnergy Capital Partners, an affiliate of Ridgewood Infrastructure, is selling the company for $273 million in cash and the assumption of $152 million of debt.
After the transaction closes, which is expected in first quarter 2025, SiEnergy will become a wholly owned subsidiary of NW Natural Holdings.
SiEnergy serves approximately 70,000 residential and commercial customers in the greater metropolitan areas known as the Texas Triangle — Houston, Dallas and Austin. SiEnergy has grown organically by providing infrastructure to residential and commercial developments in high-growth areas and has a contracted customer backlog of more than 180,000. The company is positioned for future investment opportunities as communities and new developments in the Texas Triangle continue to expand.
“The acquisition of SiEn
