NW Natural Holding Company Acquires SiEnergy Operating, LLC

Stoel Rives represented NW Natural Holding Company (NW Natural Holdings) in its acquisition of SiEnergy Operating, LLC, from SiEnergy Capital Partners, LLC, an affiliate of Ridgewood Infrastructure. NW Natural Holdings completed the acquisition on January 7, 2025, purchasing all of the membership interests of SiEnergy Operating, LLC, for approximately $271.1 million in cash and an assumption of approximately $156.1 million of debt, subject to customary purchase price adjustments.

Headquartered in Portland, Oregon, NW Natural Holdings owns energy and natural resource companies that provide critical energy and essential water and wastewater services to nearly one million customers across six states. 

SiEnergy is a natural gas distribution utility, serving approximately 70,000 customers in the greater metropolitan areas of Houston, Dallas, and Austin, Texas.   

Jason Brauser led the acquisition deal team that represented NW Natural Holdings. The deal team included Marc Therrien, Kasey Lundberg, Jennifer Johnson, Derek Zha, and Kevin Pearson, among others. Brant Norquist and Peter Denton represented NW Natural Holdings on the related acquisition debt financing.

For more information, see the NW Natural Holdings press release and Form 8-K.