News and Media Delta Utilities to expand footprint through acquisition of Spire’s Mississippi natural gas business
Delta Utilities to expand footprint through acquisition of Spire’s Mississippi natural gas business
NEW ORLEANS, LA — Delta Utilities, a natural gas utility and Bernhard Capital Partners portfolio company, today announced that it has entered into an agreement with a subsidiary of Spire Inc. (NYSE: SR) to acquire its Mississippi local natural gas distribution company(“Spire Mississippi”), that serves approximately 18,000 residential, commercial and industrial customers across south central Mississippi.
The close geographic fit is expected to generate meaningful operating efficiencies, enhance emergency response readiness, and expand system capabilities. Increased economies of scale will enable Delta Utilities to more effectively leverage shared equipment, technology, personnel, and regional response resources across its Mississippi footprint, supporting improved reliability and long term value for customers and stakeholders.
“This agreement reflects our long term commitment to Mississippi and the customers and communities we serve,” said Tim Poché, Chief Executive Officer of Delta Utilities. “By bringing these geographically aligned systems together, we can deploy capital more efficiently, strengthen service reliability and further position the company to meet customer needs today and over the long term.”
More than 35 Mississippi employees are expected to join the Delta Utilities team following the close of the transaction, supporting a seamless transition of service for legacy Spire customers. The transaction is expected to close near the end of 2026, pending required regulatory approvals.
“We’re confident Delta Utilities will be a strong operator for the benefit of both employees and customers. I am deeply grateful to the Spire Mississippi team for their dedication and contributions over the years,” said Scott Doyle, President and Chief Executive Officer of Spire.
Delta Utilities is the second largest natural gas utility in Mississippi. Additional information about Delta Utilities is available at www.DeltaUtilities.com.
Kirkland & Ellis LLP is serving as the legal advisor to Delta Utilities and Brunini, Grantham, Grower, & Hewes, PLLC is serving as their local legal counsel.
About Delta Utilities
Delta Utilities and its affiliated operating entities rank among the nation’s top 40 natural gas providers, delivering safe and reliable service to approximately 600,000 customers across Louisiana and Mississippi. Headquartered in New Orleans, the company employs 875 team members who live and work throughout its service territory, supporting local communities and system operations. Through continued investment across its footprint, Delta Utilities advances its mission to provide clean, safe, and affordable natural gas while maintaining a strong focus on service quality and safety. For more information, visit www.deltautilities.com.
About Bernhard Capital Partners
Bernhard Capital Partners is a services and infrastructure-focused private equity management firm established in 2013. BCP has deployed capital in five funds across several strategies and has more than $6 billion of assets under management. BCP seeks to create sustainable value by leveraging its experience in acquiring, operating, and growing services and infrastructure businesses. For more information, visit www.bernhardcapital.com.
About Spire
At Spire Inc. (NYSE: SR) we believe energy exists to help make people's lives better. It's a simple idea, but one that's at the heart of our company. Every day we have the honor of serving close to 2 million homes and businesses, making us one of the largest publicly traded natural gas companies in the country. We help families and business owners fuel their daily lives through our gas utilities serving Alabama, Mississippi, Missouri and Tennessee. Our natural gas-related businesses include Spire Marketing and Spire Midstream. We are committed to transforming our business through growing organically, investing in infrastructure, and driving continuous improvement. Learn more at SpireEnergy.com.