Gas Natural Inc. and a fund managed by BlackRock Real Assets' Global Energy & Power Infrastructure group completed their merger as scheduled Aug. 4.
With the acquisition, the utility company becomes a natural gas distribution platform for BlackRock. In exchange, Gas Natural will have better access to capital for its natural gas service operations, according to an Aug. 4 news release.
Gas Natural has about 70,000 residential, commercial and industrial customers across Montana, Ohio, Maine and North Carolina through regulated utilities.
The initial deal announcement stated that Gas Natural would be acquired by First Reserve Energy Infrastructure Fund LP, which BlackRock acquired in June.