SJI announced recently it has received necessary approval from the State of Maryland Public Service Commission to acquire Maryland-based Elkton Gas’ assets from Pivotal Utilities Inc., a subsidiary of Southern Company Gas.
The purchase, according to SJI, is part of a larger deal that also includes the acquisition of New Jersey-based Elizabethtown Gas.
“The acquisition of Elizabethtown and Elkton Gas is a great fit for SJI and reinforces our commitment to high quality, regulated earnings growth,” said Michael J. Renna, CEO and president, SJI. “We look forward to completing this transformational deal and welcoming Elizabethtown Gas and Elkton Gas into the SJI family of companies. Together, we will further our commitment to operational excellence and an outstanding customer experience.”
Pending approval, the deal is expected to close mid-2018. Upon closing, SJI said it will become the second largest natural gas provider in New Jersey and third largest local gas distributor in the nation.