Bernhard Capital Partners to Purchase New Mexico Gas Company
Photo: Leaders from Emera Inc., Bernhard Capital Partners and New Mexico Gas Company answer employee questions on August 6, 2024.
On August 5, 2024, Emera Inc. announced the sale of New Mexico Gas Company to Louisiana-based Bernhard Capital Partners.
What does this announcement mean for our customers? Business as usual. Our team, as always, is focused on providing safe, reliable natural gas service to 545,000 New Mexico homes and businesses. That’s why we’re here.
As part of the acquisition, Bernhard Capital plans to:
- Maintain New Mexico Gas Company’s current office locations, local leadership and all employees.
- Create about 70 new jobs in New Mexico, replacing services that are now provided to New Mexico Gas by out-of-state employees at other Emera companies.
- Operate New Mexico Gas Company as a stand-alone business, separate from Bernhard Capital’s other natural gas utilities and investments.
The transaction requires approval by the New Mexico Public Regulation Commission. After an application to the Commission is filed later this year, the review and hearing process will likely take about a year, although the PRC will determine the timeline. Emera and Bernhard Capital Partners have agreed that the transaction will close after September 30 next year, unless otherwise approved by the Commission.
You can read Emera's news release here.
To learn more about Bernhard Capital Partners, click here.
