OH NatGas Utility Sells Itself to Energy Investment Firm

A Cleveland, OH-based natural gas utility company, Gas Natural Inc., has sold itself to investment firm First Reserve Energy. Gas Natural sells 21 billion cubic feet (Bcf) of natural gas to roughly 68,600 customers through regulated utilities operating in Montana, Ohio, Maine and North Carolina. Gas Natural’s other operations include an intrastate pipeline, natural gas production and natural gas marketing. First Reserve Energy is an investment firm focused solely on investing in (and buying) energy companies. Shareholders for Gas Natural voted at the end of December to approve the buyout/merger…

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