From GlobeNewswire: 2024-07-09 06:45:00

Unitil Corporation has agreed to purchase Bangor Natural Gas Company from PHC Utilities for $70.9 million. Bangor serves 8,500 customers in Maine and has 351 miles of distribution pipelines. The deal is expected to close by Q1 2025 pending Maine PUC approval. Unitil plans to fund the purchase with a mix of equity and debt from Scotiabank. Unitil, a New England energy provider, serves 108,500 electric and 88,400 natural gas customers. CEO Thomas Meissner sees Bangor as a good fit for Unitil’s operations, emphasizing a commitment to safe, reliable, and affordable energy services.



Read more at GlobeNewswire: Unitil to Purchase Bangor Natural Gas Company from Hope