Energy Capital Partners to Acquire CenterPoint's Energy Services Business

Updated 1 year 3 months ago

Energy Capital Partners (ECP) has agreed to acquired CenterPoint Energy Services (CES) for approximately $400 million, including estimated working capital at close. Upon close, CES will enter into a long-term preferred supply agreement with Shell as well as receive equity warrants. CES provides natural gas sales, storage, supply services to 30,000 commercial and industrial customer, utilities, and municipalities in more than 30 states. CES is headquartered in Houston with 300 employees. The deal is anticipated to close in the second quarter of 2020. Goldman Sachs served as a financial advisor to CenterPoint.