Emera completes sale of New Mexico Gas Company to Bernhard Capital Partners
What happened
Emera finished selling New Mexico Gas Company, an Albuquerque-based regulated gas utility, to Bernhard Capital Partners on August 12, 2026. The transaction was first announced on August 5, 2024. Emera stated that this sale was the final piece of a clean-up process that included selling Grand Bahama Power Company in May.
From insidermonkey.com
Why it matters
The divestiture allows Emera to simplify its operations and focus capital on its remaining regulated utilities. The company reported that its utilities invested over $1.7 billion in the first half of 2026 and is planning a $4 billion capital plan this year. Emera also noted that operating cash flow before working capital climbed 8% in the first half of 2026.
From insidermonkey.com
Who's involved
- EmeraThe multinational energy holding company that sold the utility.
- BernhardThe private equity firm that acquired the regulated gas utility.
- New MexicoThe state where the sold gas utility was based.
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The entities involved
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Emera
publicly traded Canadian multinational energy holding company based in Halifax, Nova Scotia
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