LAS VEGAS, Dec. 31, 2021 /PRNewswire/ — Efficient in the present day, Southwest Fuel Holdings, Inc. (NYSE: SWX) has accomplished the acquisition of Dominion Power Quester Pipeline, LLC, and its subsidiaries and sure associates (collectively “Questar Pipeline Entities”). Southwest Fuel Holdings, Inc. has additionally created a brand new subsidiary named MountainWest Pipelines Holding Firm (MountainWest) that owns the Questar Pipeline Entities. The Questar Pipeline Entities might be rebranded beneath the MountainWest model throughout the first half of 2022.
MountainWest offers 2,160 miles of extremely contracted, FERC-regulated interstate pure fuel pipelines within the Rocky Mountain area. Colleen Larkin Bell will lead the MountainWest entities as President who will report back to Karen Haller, Govt Vice President, Southwest Fuel Holdings. The acquisition is predicted to be accretive to Southwest Fuel Holdings’ earnings per share in 2022.
“We’re very enthusiastic concerning the addition of MountainWest to the Southwest Fuel Holdings household of property,” says John Hester, president and CEO of Southwest Fuel Holdings. “Pure fuel pipelines are important to the nation’s power future, which incorporates different sources reminiscent of renewable pure fuel and hydrogen blended fuel, and MountainWest brings elevated scale and diversification to our enterprise portfolio. MountainWest will give attention to including worth by accelerating progress alternatives and positioning the Firm as a frontrunner within the evolving power panorama. We stay up for sharing further details about progress alternatives associated to this acquisition within the close to future.”
“The MountainWest entities and their workers brings intensive information and assets that may mesh completely with Southwest Fuel Holdings’ technique, values and tradition,” says Karen Haller, government vp of Southwest Fuel Holdings. “The brand new President of the MountainWest entities, Colleen Larkin Bell, has greater than 30 years of expertise within the pure fuel business, together with expansive government expertise inside the Questar firms. Her management will drive us ahead in progress and innovation as we discover new power applied sciences to proceed decreasing our environmental influence all through our service areas.”
“I am excited to affix the Southwest Fuel Holdings household and stay up for main MountainWest and its workers into this new chapter of our group’s historical past,” says Colleen Larkin Bell, president of the MountainWest entities. “Our staff is trying to leverage synergies that may additional our shared commitments to sustainability, reliability and operational excellence.”
Lazard Frères & Co. LLC served because the unique monetary advisor to Southwest Fuel Holdings, whereas Morrison & Foerster LLP served as authorized advisor to the Firm.
About Southwest Fuel Holdings, Inc.
Southwest Fuel Holdings, Inc., by way of its subsidiaries, engages within the enterprise of buying, distributing and transporting pure fuel, and offering complete utility infrastructure providers throughout North America. Southwest Fuel Company, an entirely owned subsidiary, safely and reliably delivers pure fuel to over two million clients in Arizona, California and Nevada. Centuri Group, Inc., an entirely owned subsidiary, is a complete utility infrastructure service enterprise devoted to delivering a various array of options to North America’s fuel and electrical suppliers.
About MountainWest Pipelines Holding Firm
MountainWest Pipelines Holding Firm, by way of its subsidiaries, engages within the enterprise of transporting and storing pure fuel. Dominion Power Quester Pipeline, LLC, an entirely owned subsidiary, and its subsidiaries and sure related associates, together with Overthrust Pipeline and White River Hub, function 2,160-miles of extremely contracted, FERC-regulated interstate pure fuel pipelines offering transportation and underground storage providers in Utah, Wyoming and Colorado.
This press launch incorporates forward-looking statements inside the that means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Securities Alternate Act of 1934, as amended. These statements are primarily based on present expectations, estimates and projections about, amongst others, the business and markets during which Southwest Fuel Holdings, Inc. (the “Firm,” or “Southwest Fuel Holdings”) operates, and the acquisition described on this press launch. Whereas the Firm’s administration believes the assumptions underlying its forward-looking statements and data are cheap, such data is essentially topic to uncertainties and will contain sure dangers, a lot of that are tough to foretell and are past the management of the Firm’s administration. These dangers embrace, however aren’t restricted to: dangers associated to the power of the Firm to combine MountainWest Pipelines Holding Firm and its subsidiaries (“MountainWest”); the Firm’s skill to acknowledge the anticipated synergies with MountainWest and the anticipated advantages of the acquisition on the Firm’s earnings and diversification; the quantity of the prices, charges, bills and expenses associated to the acquisition and the precise phrases of the everlasting financings that might be obtained following the closing of the acquisition; and different dangers which might be set forth beneath “Danger Elements” within the Firm’s Annual Report on Kind 10-Okay for the yr ended December 31, 2020, the Firm’s Quarterly Stories on Kind 10-Q for the quarter ended September 30, 2021 and in future filings with the SEC. All forward-looking statements communicate solely as of the date of this press launch. All subsequent written and oral forward-looking statements attributable to the Firm or any individual performing on its behalf are certified by the cautionary statements on this part. The Firm undertakes no obligation to replace or publicly launch any revisions to forward-looking statements to mirror occasions, circumstances or adjustments in expectations after the date of this press launch.
SOURCE Southwest Fuel Holdings, Inc.