Hearthstone purchases Dominion LDC in West Virginia
Thursday, September 15, 2022
Hearthstone Holdings Inc. purchased Hope Gas Inc., which does business as Dominion Energy West Virginia, for $690 million, according to Natural Gas Intelligence.
Hope Gas is one of West Virginia’s largest local natural gas distribution companies. It supplies gas for around 111,000 West Virginian utility customers through 3,200 miles of distribution pipelines and more than 2,000 miles of gathering lines.
Hearthstone will move its headquarters to Morgantown, West Virginia as part of the deal.
Hearthstone is a portfolio company of Ullico Inc.’s Infrastructure fund. It owns and operates natural gas LDCs in Indiana, Ohio, North Carolina, Maine and Montana and water and wastewater utilities in Arizona and Michigan.
Learn more: Natural Gas Intelligence > Dominion Closes Sale of West Virginia LDC, Landing State a New Resident Firm
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