Origin Merchant Partners is pleased to announce that The Society of Energy Professionals (“The Society”) has completed its acquisition of shares of Hydro One Limited (“Hydro One”) and the related arrangement and structuring of financing for an aggregate investment of approximately $39 million.
Origin Merchant Partners acted as exclusive financial advisor to The Society with respect to this transaction.
The Society of Energy Professionals represents more than 8,000 professional employees in the electricity industry in Ontario, including engineers, scientists, supervisors and finance specialists. Formed in 1948, The Society advocates for long-term, evidence-based planning and decision-making in the energy sector. The Society is Local 160 of the International Federation of Professional and Technical Engineers, based in Washington, D.C. with 80,000 members in the U.S. and Canada.
Hydro One Limited is Ontario’s largest electrical transmission and distribution utility with approximately $23 billion in assets and 2014 revenues of over $6 billion. Hydro One’s regulated transmission and distribution operations are owned by Hydro One Inc., a wholly-owned subsidiary of the Company. Hydro One Inc. owns and operates Ontario’s approximately 29,000 km high-voltage transmission network and an approximately 122,000 circuit km primary low-voltage distribution network.