---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-039232"
form_type: "8-K"
ticker: "SWX"
cik: "0001692115"
company_name: "Southwest Gas Holdings, Inc."
filed_at: "2023-02-14T23:59:59+00:00"
generated_at: "2026-06-19T14:07:00.344712+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Southwest Gas closes $1.5B sale of MountainWest to Williams; proceeds repay $1.075B term loan

## Summary
- Closed sale of MountainWest to Williams for $1.5B enterprise value; ~$1.080B cash received.
- Net proceeds used to repay $1.075B of MountainWest acquisition term loan; $73M remains outstanding.
- Sale simplifies corporate structure; returns Southwest Gas to core regulated utility business.
- Company expects spin-off of Centuri in Q4 2023 or Q1 2024 to create two focused industry leaders.
- Moelis & Company and Lazard advised Southwest Gas; Morrison & Foerster acted as legal counsel.

## SEC filing metadata
- accession: 0001193125-23-039232
- form_type: 8-K
- ticker: SWX
- cik: 0001692115
- company_name: Southwest Gas Holdings, Inc.
- filed_at: 2023-02-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692115/000119312523039232/0001193125-23-039232-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692115/000119312523039232/d451660d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-039232
- JSON: https://secwatch.observer/filing/0001193125-23-039232.json
- Plain text: https://secwatch.observer/filing/0001193125-23-039232.txt

## Key facts
- M&A Transactions
  Southwest Gas Holdings, Inc. completed a disposition involving Williams Partners Operating LLC (a wholly owned subsidiary of The Williams Companies, Inc.) for $1.5 billion in total enterprise value, including approximately $1.080 billion in cash (closed 2023-02-14).
  - Action: disposition
  - Counterparty: Williams Partners Operating LLC (a wholly owned subsidiary of The Williams Companies, Inc.)
  - Consideration: $1.5 billion in total enterprise value, including approximately $1.080 billion in cash
  - Closing: 2023-02-14
  source text: owned subsidiary of The Williams Companies, Inc. (collectively, the “Sale”). Pursuant to the terms of the Purchase Agreement, the total consideration received from the Sale was $1.5 billion in total enterprise value, including approximately $1.080 billion in cash. After the payment of transaction expenses, the net proceeds from the Sale will be used to repay $1.075
  evidence_url: https://www.sec.gov/Archives/edgar/data/1692115/000119312523039232/0001193125-23-039232-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.