Veolia Energy, a unit of Veolia (NYSE: VE), announced it will acquire Thermal North America, Inc. from TNAI Holdings. With an enterprise value of $788 million, the acquisition is Veolia Energy’s largest in North America to date.
TNAI is the owner and operator of the largest portfolio of district energy systems in the US, serving more than 1,100 customers with a mix of energy products – electricity, steam, hot water and chilled water. TNAI operates in 11 major U.S. cities – Atlanta; Baltimore; Boston; Kansas City; Las Vegas; Los Angeles; Oklahoma City; Philadelphia; St. Louis; Trenton, NJ; and Tulsa, Okla.
Founded 80 years ago, Veolia Energy already operates 682 district energy systems, and manages 4,000 MW of cogeneration plant capacity for its customers. The European market leader, Veolia Energy is focused on growth in North America, China, and the Middle East. Veolia Energy entered the North American market in 2003, and has operations in Boston, New York, Houston, Las Vegas, and Montreal.
Loading...