Acquisition Completed#
Boardwalk Pipelines, LP has successfully completed its acquisition of Spire Marketing Inc., a gas marketing business previously owned by Spire Inc. This move enhances Boardwalk's capabilities in the natural gas sector, adding to its existing pipeline and storage assets.
New Business Structure#
Following the acquisition, the business will now operate under the name Boardwalk Continuum Marketing, LLC. This new entity will focus on purchasing and delivering natural gas to a variety of customers, including producers, midstream operators, and large industrial clients across North America.
Leadership Continuity#
Pat Strange, who was the president of Spire Marketing, will continue to lead the new organization as its president. He assured customers that they can expect a seamless transition and continuity of service during this change.
Background on Spire Inc.#
Spire Inc., the parent company of Spire Marketing, has a market capitalization of $5.38 billion and has maintained consistent dividend payments for 56 years, indicating strong financial stability. Recently, Spire has also announced plans to sell its Mississippi natural gas distribution business and its natural gas storage assets in Wyoming and Oklahoma, as part of a strategic shift to enhance its operations and financial outlook.