Ridgewood Infrastructure sells stake in SiEnergy Regulated Utility
Ridgewood Infrastructure, an infrastructure investment firm focused on essential infrastructure in the U.S. lower middle market, announced the successful sale of its 80% interest in SiEnergy to Northwest Natural Holding Company.
SiEnergy is a regulated utility providing essential natural gas services to residential and commercial customers in the greater metropolitan areas of Houston, Dallas and Austin. Since acquiring the business in 2019, Ridgewood Infrastructure has led the transformation of SiEnergy into one of the fastest-growing natural gas distribution utilities in the nation. Under Ridgewood's stewardship, SiEnergy organically expanded its service base from approximately 20,000 to more than 70,000 customers.
"SiEnergy exemplifies Ridgewood Infrastructure's continued ability to create differentiated investments on behalf of our investors," said Michael Albrecht, Managing Partner of Ridgewood Infrastructure. "Our focus on operational and service excellence ensured the company was able to scale and will benefit SiEnergy's customers for years to come."
Albrecht added: "We are pleased with the accomplishments of SiEnergy, which reflect the dedication of the company's leadership team, employees, and partners, all of whom have played a pivotal role in its success."
RBC Capital Markets, LLC acted as exclusive financial advisor and White & Case LLP as legal advisor to Ridgewood Infrastructure.
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