The Public Sector Pension Investment Board (PSP Investments) has agreed to acquire a 50 percent interest in Enercare, a Canadian provider of essential home infrastructure, from Brookfield and its institutional partners for $1.6 billion.
Enercare provides critical equipment, including water heaters, heating, ventilation and air conditioning (HVAC) equipment, water purification systems and protection plans, as well as related services. The company serves more than 1.4 million Canadian homes and businesses, with a strong presence in Ontario and Quebec and a growing footprint in Western Canada.
The transaction builds on a longstanding relationship between PSP Investments and Brookfield. PSP Investments has been an investor in Enercare since 2018, when it co-invested alongside Brookfield in the privatization of the company. Since that time, the partners have supported Enercare’s growth and solidified its position as a leading home and commercial services platform.
