Business
Spire announces sale of its Mississippi natural gas business to Delta Utilities for $75 million
Spire Inc. (NYSE: SR) today announced it has entered into an agreement to sell its Mississippi local distribution company ("Spire Mississippi") to Delta Utilities, a company backed by Bernhard Capital Partners, for $75 million in cash. The transaction represents a 1.4x multiple of 2025 rate base.
About this update from Spire Inc.
[{"type":"list","items":[{"val":[{"type":"text","content":"Sale refines geographic footprint, regulated natural gas distribution portfolio now focused on larger regulated gas utilities","length":125,"tagName":"p"}]},{"val":[{"type":"text","content":"Spire Mississippi serves approximately 18,000 customers and includes roughly 745 miles of distribution pipelines","length":112,"tagName":"p"}]},{"val":[{"type":"text","content":"Expected to close first fiscal quarter of 2027","length":46,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":283,"olType":false},{"type":"text","content":"ST. LOUIS, April 22, 2026 /PRNewswire/ -- Spire Inc. (NYSE: SR) today announced it has entered into an agreement to sell its Mississippi local distribution company ("Spire Mississippi") to Delta Utilities, a company backed by Bernhard Capital Partners, for $75 million in cash. The transaction represents a 1.4x multiple of 2025 rate base.","length":349,"tagName":"p"},{"type":"image","alt":"Spire logo (PRNewsfoto/Spire Inc.)","displaySize":"","headline":null,"caption":"Spire logo (PRNewsfoto/Spire Inc.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":218,"url":"https://media.zenfs.com/en/prnewswire.com/17d4d3273d19fefbb52c247f845c84c9"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/2diIFoi1WfYcPoWzdR7jJA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM4NA--/https://media.zenfs.com/en/prnewswire.com/17d4d3273d19fefbb52c247f845c84c9","width":400,"height":218}},"href":"https://mma.prnewswire.com/media/1818129/Spire_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Proceeds will be used to fund planned infrastructure investments across Spire's regulated gas utilities in Alabama, Missouri and Tennessee, benefiting customers while supporting long-term shareholder value.","length":210,"tagName":"p"},{"type":"text","content":"Spire Mississippi's operations include approximately 745 miles of distribution pipelines serving approximately 18,000 customers in south-central Mississippi, including Hattiesburg. Spire employees who directly support the business are expected to transition to Delta Utilities to ensure continuity of service for customers and communities.","length":343,"tagName":"p"},{"type":"text","content":""This transaction sharpens our focus on our larger regulated gas utilities where we will c...