Janney Montgomery Scott's Infrastructure Group Served as Sell-Side Financial Advisor and Provided a Fairness Opinion to Gas Natural

9/6/17

A fund managed by BlackRock Real Assets' Global Energy & Power Infrastructure group completed the acquisition of Gas Natural Inc. (NYSE: EGAS). The proposed transaction was initially announced in October 2016 by First Reserve Energy Infrastructure Funds, which BlackRock Real Assets acquired in June 2017.

The acquisition of Gas Natural establishes a new platform in the natural gas distribution space for BlackRock's Global Energy & Power Infrastructure group. Gas Natural will benefit from enhanced access to capital while continuing to provide safe, reliable and cost-effective natural gas service. Gas Natural distributes and sells approximately 21 billion cubic feet of natural gas to roughly 70,000 residential, commercial and industrial customers through regulated utilities operating in Montana, Ohio, Maine and North Carolina.

Janney Montgomery Scott LLC served as exclusive sell-side financial advisor and provided a fairness opinion to the Company's Board of Directors.

Gas Natural Inc., a holding company, distributes and sells natural gas to residential, commercial and industrial customers. It distributes approximately 21 billion cubic feet of natural gas to roughly 70,000 customers through regulated utilities operating in Montana, Ohio, Maine and North Carolina. The Company's other operations include intrastate pipeline, natural gas production and natural gas marketing. Its strategy for growth is to expand throughput in its markets, while looking for acquisitions that are either adjacent to its existing utilities or in under-served markets.

Recent Deals

Interested in advertising your deals? Contact Edwin Warfield.