SiEnergy Sold by Ridgewood Infrastructure
Deal News | Jan 08, 2025 | PR Newswire Cision Ridgewood Infrastructure
Ridgewood Infrastructure, a prominent infrastructure investment firm, announced the sale of its 80% stake in SiEnergy to Northwest Natural Holding Company, a leading utility provider. SiEnergy, under Ridgewood's management since 2019, has seen substantial growth, expanding its customer base in major Texan cities, including Houston, Dallas, and Austin, to over 70,000. This transaction marks Ridgewood's commitment to investment differentiation and operational excellence. Michael Albrecht, Ridgewood's Managing Partner, highlighted the collaborative efforts of SiEnergy’s leadership and employees in achieving this growth. The deal was advised by RBC Capital Markets as the financial advisor and White & Case LLP as the legal advisor.
Sectors
- Infrastructure Investment
- Utilities
Geography
- United States – Ridgewood Infrastructure and the target company, SiEnergy, operate in the U.S.
- Texas – SiEnergy services the Houston, Dallas, and Austin areas in Texas.
Industry
- Infrastructure Investment – Ridgewood Infrastructure operates in the infrastructure investment sector, focusing on crucial infrastructure projects in the U.S., including water, energy transition, and utilities.
- Utilities – SiEnergy, the target company, is a regulated utility providing natural gas services to both residential and business customers.
Financials
- 80% – Ridgewood Infrastructure sold its 80% stake in SiEnergy.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ridgewood Infrastructure | Seller | Company | An infrastructure investment firm focusing on significant infrastructure in the U.S. |
| SiEnergy | Target Company | Company | A regulated utility company providing natural gas in Texas. |
| Northwest Natural Holding Company | Buyer | Company | A utility company that purchased an 80% stake in SiEnergy. |
| RBC Capital Markets, LLC | Financial Advisor | Company | RBC Capital Markets acted as the exclusive financial advisor to Ridgewood Infrastructure. |
| White & Case LLP | Legal Advisor | Company | White & Case LLP served as the legal advisor to Ridgewood Infrastructure for this transaction. |
| Michael Albrecht | Managing Partner at Ridgewood Infrastructure | Person | Involved in the announcement and management of the transaction. |