---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-262797"
form_type: "8-K"
ticker: "UTL"
cik: "0000755001"
company_name: "UNITIL CORP"
filed_at: "2025-11-03T23:59:59+00:00"
generated_at: "2026-05-17T00:59:48.399113+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Unitil completes acquisition of Maine Natural Gas for $86M plus ~$7.1M working capital

## Summary
- Purchase price $86.0M plus ~$7.1M for working capital; funded via $86M term loan from Scotiabank.
- Maine Natural serves ~6,300 natural gas customers in Greater Portland and Augusta, ME; rate base ~$69.0M as of Dec 2024.
- Unitil now serves ~213,300 customers across ME, NH, MA; acquisition complements existing gas distribution in Maine.
- Credit Agreement with Scotiabank: $86M limit, due Oct 2026, interest at Term SOFR + 1.25% or prime + 0.25%, financial covenant: funded debt to capitalization ≤65%.
- Transition Services Agreement with Avangrid for up to 12 months to ensure operational continuity.

## SEC filing metadata
- accession: 0001193125-25-262797
- form_type: 8-K
- ticker: UTL
- cik: 0000755001
- company_name: UNITIL CORP
- filed_at: 2025-11-03T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 8.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/755001/000119312525262797/0001193125-25-262797-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/755001/000119312525262797/d38770d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-262797
- JSON: https://secwatch.observer/filing/0001193125-25-262797.json
- Plain text: https://secwatch.observer/filing/0001193125-25-262797.txt

## Key facts
- Debt Financings
  UNITIL CORP incurred credit facility of $86 million with The Bank of Nova Scotia at Term SOFR plus 0.1000% plus a margin of 1.25% or prime rate plus 0.25% maturing October 31, 2026.
  - Instrument: credit facility
  - Principal: $86 million
  - Counterparty: The Bank of Nova Scotia
  - Rate: Term SOFR plus 0.1000% plus a margin of 1.25% or prime rate plus 0.25%
  - Maturity: October 31, 2026
  - Event: incurrence
  source text: (the “ Credit Agreement ”): Unitil; The Bank of Nova Scotia, as agent; and The Bank of Nova Scotia, as lender (the “ Lender ”). The Credit Agreement has a borrowing limit of $86 million. Subject to certain notice requirements, Unitil may irrevocably reduce or terminate the unutilized portion of the commitments under the Credit Agreement at any time without
  evidence_url: https://www.sec.gov/Archives/edgar/data/755001/000119312525262797/0001193125-25-262797-index.htm

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