LAS VEGAS, December 31, 2021 / PRNewswire / – Effective today, Southwest Gas Holdings, Inc. (NYSE: SWX) has completed the acquisition of Dominion Energy Quester Pipeline, LLC, and its subsidiaries and certain affiliates (collectively ” Questar Pipeline Entities ”). Southwest Gas Holdings, Inc. has also created a new subsidiary called MountainWest Pipelines Holding Company (MountainWest) which owns the Questar pipeline entities. The Questar pipeline entities will be renamed under the MountainWest brand in the first half of 2022.
MountainWest supplies 2,160 miles of highly contracted, FERC-regulated interstate gas pipelines to the Rocky Mountain region. Colleen Larkin Bell will lead the MountainWest entities as chairman who will report to Karen haller, Executive Vice President, Southwest Gas Holdings. The acquisition is expected to have a positive impact on earnings per share of Southwest Gas Holdings in 2022.
“We are very excited to add MountainWest to the Southwest Gas Holdings family of assets,” said John hester, President and CEO of Southwest Gas Holdings. “Natural gas pipelines are critical to the country’s energy future, which includes alternative sources such as renewable natural gas and hydrogen blended gas, and MountainWest brings greater scale and diversification to our business portfolio. MountainWest will focus on creating value by accelerating growth opportunities and positioning the Company as a leader in the changing energy landscape. We look forward to sharing additional information on the growth opportunities associated with this acquisition in the near future.
“The MountainWest entities and their employees bring extensive knowledge and resources that will fit seamlessly into the strategy, values and culture of Southwest Gas Holdings,” said Karen haller, executive vice president of Southwest Gas Holdings. “The new President of the MountainWest entities, Colleen Larkin Bell, has over 30 years of experience in the natural gas industry, including extensive management experience with the Questar companies. His leadership will move us forward in growth and innovation as we explore new energy technologies to continue to reduce our environmental impact in all of our service areas. “
“I am delighted to join the Southwest Gas Holdings family and look forward to leading MountainWest and its employees in this new chapter in our organization’s history,” said Colleen Larkin Bell, president of MountainWest entities. “Our team seeks to leverage synergies that will strengthen our common commitments to sustainability, reliability and operational excellence.
Lazard Frères & Co. LLC has been the exclusive financial advisor to Southwest Gas Holdings, while Morrison & Foerster LLP has been the legal advisor to the company.
About Southwest Gas Holdings, Inc.
Southwest Gas Holdings, Inc., through its subsidiaries, is engaged in purchasing, distributing and transporting natural gas and providing comprehensive utility infrastructure services across North America. Southwest Gas Corporation, a wholly owned subsidiary, safely and reliably delivers natural gas to more than two million customers in Arizona, California and Nevada. Centuri Group, Inc., a wholly owned subsidiary, is a full service utility infrastructure company dedicated to providing a wide range of solutions for North America gas and electricity suppliers.
About MountainWest Pipelines Holding Company
MountainWest Pipelines Holding Company, through its subsidiaries, is engaged in the transportation and storage of natural gas. Dominion Energy Quester Pipeline, LLC, a wholly owned subsidiary, and its subsidiaries and certain associated affiliates, including Overthrust Pipeline and White River Hub, operate 2,160 miles of FERC-regulated interstate gas pipelines providing transportation and transportation services. underground storage in Utah, Wyoming and Colorado.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on current expectations, estimates and projections regarding, among other things, the industry and markets in which Southwest Gas Holdings, Inc. (the “Company” or “Southwest Gas Holdings”) operates, and the acquisition described. in this press Liberation. Although the management of the Company believes that the assumptions underlying its forward-looking statements and information are reasonable, such information is necessarily subject to uncertainties and may involve certain risks, many of which are difficult to predict and are beyond management’s control. of the society. These risks include, but are not limited to: risks relating to the Company’s ability to integrate MountainWest Pipelines Holding Company and its subsidiaries (“MountainWest”); the Company’s ability to recognize the expected synergies with MountainWest and the expected benefits of the acquisition on the Company’s earnings and diversification; the amount of costs, fees, expenses and charges related to the acquisition and the actual terms of the permanent financing that will be obtained following the closing of the acquisition; and other risks which are set out under “Risk Factors” in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, the Company’s Quarterly Reports on Form 10-Q for the quarter closed September 30, 2021 and in future SEC filings. All forward-looking statements speak only as of the date of this press release. All subsequent written and oral forward-looking statements attributable to the Company or to any person acting on its behalf are qualified by the cautionary statements in this section. The Company assumes no obligation to update or publicly release revisions of forward-looking statements to reflect events, circumstances or changes in expectations after the date of this press release.
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SOURCE Southwest Gas Holdings, Inc.