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Many Canadian energy providers are exploring merging their businesses to become stronger and offer customers more competitive services. Before undertaking a merger, there are major financial and societal impacts to consider.
Entegrus currently operates electricity distribution systems for over 60,000 customers in Southwestern Ontario. Entegrus also operates a successful fibre optic internet division, Entegrus Fibre. While this division was experiencing rapid growth, Entegrus decided it was in the customers’ best interest to sell this portion of the business to strengthen the other core business divisions, allowing them to better serve all their customers.
Known as a leader in the residential energy sector, Ecofitt has been successfully implementing energy efficient solution packages for utilities, retailers, and distributors across Canada. To date, Ecofitt has installed over 4.0 million Ecofitt LED light bulbs and 150,000 smart thermostats in over 500,000 homes.
Two like-minded LDCs—Brantford Power Inc. and Energy+ Inc—wanted to explore merging their businesses to become stronger and to better serve their customers and communities. Our advisors helped evaluate benefits and risks while preparing the business case for a potential merger, allowing both businesses to determine whether this move would be strategic for them respectively, as well as together.
With the acquisition of Trans Power, OEC will be offering enhanced design-build capabilities to their clients as they expand their position in the infrastructure and energy services industry.