Ridgewood Infrastructure's Successful Sale of SiEnergy to NW Natural
Deal News | Jan 08, 2025 | PR Newswire Cision Ridgewood Infrastructure
Ridgewood Infrastructure, a prominent infrastructure investment firm, has announced the sale of its 80% stake in SiEnergy to Northwest Natural Holding Company. SiEnergy, a regulated utility, provides essential natural gas services in the Houston, Dallas, and Austin areas. Under Ridgewood's management since 2019, SiEnergy has grown from servicing 20,000 customers to over 70,000. Michael Albrecht, Managing Partner of Ridgewood, emphasized their commitment to value creation and operational excellence, noting that the sale reflects a successful investment cycle for Ridgewood. RBC Capital Markets served as financial advisor and White & Case LLP as legal advisor for the transaction.
Sectors
- Infrastructure Investment
- Utilities
Geography
- United States – Both Ridgewood Infrastructure and SiEnergy operate within the U.S., with SiEnergy serving major metropolitan areas in Texas.
- Texas – SiEnergy operates in Texas, specifically in Houston, Dallas, and Austin.
Industry
- Infrastructure Investment – Ridgewood Infrastructure is an investment firm focusing on infrastructure within the US lower middle market.
- Utilities – SiEnergy provides essential natural gas services, falling under the utilities sector.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ridgewood Infrastructure | Selling Company | Company | An infrastructure investment firm focused on the U.S. lower middle market. |
| SiEnergy | Target company | Company | A regulated utility providing natural gas services to residential and commercial customers in Texas. |
| Northwest Natural Holding Company | Bidding Company | Company | The acquiring company purchasing Ridgewood's stake in SiEnergy. |
| RBC Capital Markets, LLC | Financial Advisor | Company | Acted as the exclusive financial advisor to Ridgewood Infrastructure. |
| White & Case LLP | Legal Advisor | Company | Provided legal advisory services to Ridgewood Infrastructure in the transaction. |
| Michael Albrecht | Spokesperson | Person | Managing Partner of Ridgewood Infrastructure. |