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Enbridge completes acquisition of Public Service Company of North Carolina, Incorporated

Oct 01, 2024•10 months ago

Acquiring Company

Enbridge

Acquired Company

Dominion Energy

CalgaryRichmond

Description

Enbridge Inc. has successfully completed the acquisition of Public Service Company of North Carolina, Incorporated (PSNC) from Dominion Energy, Inc. PSNC, now known as Enbridge Gas North Carolina, will join Enbridge's Gas Distribution and Storage Business Unit, strengthening their position in the North American natural gas market. This strategic acquisition reinforces Enbridge's commitment to providing reliable and affordable natural gas to its customers and enhances their utility business model.

Company Information

Company

Enbridge

Location

Calgary, Alberta, Canada

About

Our name spells out our mission: a bridge to a cleaner energy future. That bridge safely connects millions of people around the world to the energy they rely on every day, fueling quality of life. Throughout our history, and especially today, we are looking beyond the horizon to invest in and build modern infrastructure, resilient communities and reliable energy. We operate across North America and beyond—powering industry, empowering society and safely delivering reliable, affordable sources of energy through our four core businesses: - Liquids pipelines - Natural gas pipelines, - Gas distribution and storage - Renewable energy

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed