Baton Rouge-based Bernhard Capital Partners’ portfolio company Delta Utilities has completed its acquisition of CenterPoint’s natural gas assets in Louisiana and Mississippi, the company announced Tuesday.
CenterPoint had three regulated natural gas local distribution companies serving approximately 380,000 residential and commercial customers in both states. The acquisition includes approximately 12,000 miles of main pipeline.
Financial terms of the deal have not been disclosed. The deal was initially announced in February 2024.
Jeff Jenkins, founder and partner at Bernhard Capital, said in a prepared statement that he expects Delta Utilities to be a catalyst for economic growth.
“These are strong companies that exemplify our strategy of investing in regulated utilities and critical infrastructure,” Jenkins says. “We believe natural gas is a key component of building more resilient communities and has a lasting role in our nation’s energy portfolio.”
Launched in 2016, Bernhard Capital Partners has invested in more than 65 services-focused companies across 19 platforms, including several utility companies, which collectively employ more than 19,000 globally. You can read a previous Business Report cover story about BCP here.