Unitil closes $71.2M purchase of Bangor Natural Gas; expands credit facility to $275M

UNITIL CORP

Acquired Bangor Natural Gas from PHC Utilities for $70.9M in cash plus ~$0.3M working capital adjustment.
Bangor adds ~8,500 customers, 351 miles distribution & 9 miles transmission pipelines to Unitil's system.
Unitil now serves ~207,000 customers across Maine, New Hampshire, and Massachusetts.
Increased revolving credit facility from $200M to $275M and extended term to September 29, 2028.
Acquisition received Maine Public Utilities Commission approval; all conditions met as of January 31, 2025.

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