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CORRECTION - DT Midstream Announces $1.2 Billion Acquisition of Strategic Midwest FERC-Regulated Natural Gas Pipelines
GlobeNewswire News Room· 2024-11-20 00:03
Core Viewpoint - DT Midstream, Inc. has announced a $1.2 billion acquisition of three FERC-regulated natural gas transmission pipelines from ONEOK, Inc., enhancing its portfolio in the Midwest market with a total capacity exceeding 3.7 Bcf/d [1][6] Transaction Details - The acquisition includes 100% operating ownership of Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission [2][3] - The transaction consideration is $1.2 billion in cash, with a transaction multiple of approximately 10.5x 2025 Adjusted EBITDA [5] - Financing for the transaction will consist of about $900 million in debt and approximately $300 million in common equity [5] Strategic Rationale - The acquisition aligns with DT Midstream's strategy of owning natural gas assets that connect supply basins with demand centers, supported by take-or-pay contracts with creditworthy customers [6] - The pipeline segment is expected to contribute approximately 70% of Adjusted EBITDA in 2025, increasing the backlog of organic growth projects [6] Pipeline Details - Guardian Pipeline is a 260-mile interstate pipeline interconnected to DT Midstream's Vector Pipeline and serves key demand centers in Wisconsin [2] - Midwestern Gas Transmission is a 400-mile bi-directional pipeline connecting Appalachia supply to the Midwest market [3] - Viking Gas Transmission is a 675-mile pipeline linking utility customers in Minnesota, Wisconsin, and North Dakota to Canadian supply [3] Closing Details - The transaction has been approved by DT Midstream's Board of Directors and is expected to close in late 2024 or early 2025, pending regulatory approvals [7] Company Overview - DT Midstream is involved in the ownership, operation, and development of natural gas pipelines and related facilities, aiming for net zero greenhouse gas emissions by 2050 [10]
DT Midstream Announces $1.2 Billion Acquisition of Strategic Midwest FERC-Regulated Natural Gas Pipelines
GlobeNewswire News Room· 2024-11-19 21:01
Core Viewpoint - DT Midstream, Inc. has announced an agreement to acquire three FERC-regulated natural gas transmission pipelines from ONEOK, Inc. for $1.2 billion, enhancing its portfolio in the Midwest market with a total capacity exceeding 3.7 Bcf/d [1][5] Transaction Details - The acquisition includes 100% operating ownership of Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission [2][3] - The transaction consideration is $1.2 billion in cash, with a transaction multiple of approximately 10.5x 2025 Adjusted EBITDA [5] - Financing for the transaction will consist of approximately $900 million in debt and $300 million in common equity [5] Strategic Rationale - The acquisition aligns with DT Midstream's strategy of owning natural gas assets that connect supply basins with demand centers, supported by take-or-pay contracts with creditworthy customers [6] - The pipeline segment is expected to contribute approximately 70% of Adjusted EBITDA in 2025, increasing the backlog of organic growth projects [6] - The acquired portfolio has a demand-pull customer base of about 90%, with approximately 85% of revenues coming from investment-grade customers [6] Closing Details - The transaction has been approved by DT Midstream's Board of Directors and is anticipated to close in late 2024 or early 2025, pending regulatory approvals [7] Company Overview - DT Midstream is involved in the ownership, operation, and development of natural gas pipelines and related facilities, focusing on transporting clean natural gas across the U.S. and Canada [11]
Ferrellgas Renews Partnership with Operation Warm, Distributes Coats to Elementary School Students in Four Midwest Cities, Bringing Total Donations to More Than 10,000 Coats
GlobeNewswire News Room· 2024-11-19 15:13
Group 1 - Ferrellgas Partners, L.P. has renewed its partnership with Operation Warm to provide winter coats and shoes to children in need, marking the fourth year of collaboration [1][2] - Since the partnership began in 2021, Ferrellgas has distributed over 10,000 new winter coats to children across various schools in Missouri and Iowa [2] - The mission of Operation Warm is to provide warmth, confidence, and hope to children through new clothing, with Ferrellgas playing a crucial role in expanding this impact [3][4] Group 2 - Ferrellgas President and CEO Tamria Zertuche emphasized the alignment of the partnership with the company's mission, as propane powers furnaces that keep families warm during winter [4] - The collaboration is part of the Ferrellgas Century Project, which focuses on Environmental, Social, and Governance (ESG) initiatives, aiming to give back to communities through 2039 [4] - Ferrellgas serves propane customers in all 50 states and has a significant employee ownership structure, with 1.1 million Class A Units held by employees [5]
Greene Concepts Explores Potential Partnership with Major Midwest Grocery Chain
Newsfile· 2024-11-19 13:30
Company Overview - Greene Concepts, Inc. is focused on providing high-quality, healthy beverage choices, with its flagship product being BE WATER, a premium artesian bottled water sourced from the Blue Ridge Mountains in North Carolina [5]. Partnership Opportunity - Greene Concepts is in discussions with a major Midwest grocery chain that operates over 2,000 retail locations, which could significantly enhance the availability of BE WATER to consumers in the region [1][2]. - The grocery chain has requested pricing and proposal details from Greene Concepts, which are currently under review [2]. Market Context - The U.S. bottled water market is experiencing significant growth, with annual sales exceeding $94 billion, driven by consumer demand for healthier beverage options [3]. - BE WATER is positioned as an eco-conscious choice, appealing to consumers seeking natural hydration [3]. CEO Insights - CEO Lenny Greene expressed enthusiasm about the potential partnership, stating it aligns with the company's vision to make BE WATER a household name and expand its reach [3][4]. - Greene noted that the inquiry from the grocery chain reflects growing recognition of BE WATER's quality and consumer appeal [4]. Production and Demand - Greene Concepts is focused on strengthening its production capabilities and customer satisfaction, with recent successes in partnerships with retailers like Walmart and Camping World [4].
Ziply® Fiber announces 400 Gig “Northern Link Route” connecting Pacific Northwest to Minneapolis and Chicago
GlobeNewswire News Room· 2024-10-21 13:00
Kirkland, Washington, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Ziply® Fiber today announced that its “Northern Link Route” – a 400 Gig, low-latency, high-capacity long-haul transport route connecting Hillsboro, Portland, Seattle, Spokane, Missoula, Billings, Minneapolis, Chicago and dozens of other major cities in between – is ready for service along the western half of the route, with full service to and from Chicago launching by the end of the year. The route, which Ziply Fiber expects will offer the lowest late ...
Midwest Energy Emissions Corp Becomes "Birchtech", Corporate Name Change and Stock Symbol Announced Alongside Conditional Listing Approval from the TSX
Newsfile· 2024-10-15 12:07
| --- | --- | |------------------------------------------------|-------| | | | | Midwest Energy Emissions Corp Becomes | | | "Birchtech", Corporate Name Change and Stock | | | Symbol Announced Alongside Conditional Listing | | New Corporate Name & Stock Symbol [BCHT] Reflects the Firm's Technology Capacities, Supporting Investor Growth on a Leading North American Stock Exchange October 15, 2024 8:07 AM EDT | Source: Midwest Energy Emissions Corp. Corsicana, Texas--(Newsfile Corp. - October 15, 2024) - 8:07 ...
The Iowa Clinic Signs Multi-Year Agreement with Counterpart Health to Deploy Proven AI Technology to Hundreds of Providers Across the Midwest
GlobeNewswire News Room· 2024-09-03 20:05
Company Overview - Counterpart Health, Inc. is a leading AI-powered physician enablement platform and a subsidiary of Clover Health Investments, Corp. [1][6] - The Iowa Clinic, P.C. is recognized as one of America's Top 100 Healthcare Providers and is the largest physician-owned multispecialty group in its community, with over 250 providers across more than 40 specialties [2][7] Strategic Agreement - Counterpart Health announced a multi-year agreement with The Iowa Clinic, positioning it as an anchor customer in the Midwest as part of Counterpart's strategic expansion [1][3] - The agreement allows clinicians at The Iowa Clinic to use Counterpart Assistant, a cloud-based software platform, for managing Medicare Advantage and Medicare Shared Savings Program patients [3] Technology and Impact - Counterpart Assistant is designed to integrate into physicians' workflows, supporting earlier diagnosis and management of chronic diseases, and is currently utilized by over a thousand physicians [4][6] - The technology leverages real-time insights from over a hundred data sources and employs more than one hundred machine learning models to enhance patient care [4] - Clover Health reported a 1,000 basis point medical cost ratio differential between Medicare Advantage plan members whose primary care physicians use Counterpart Assistant versus those who do not [4] Clinical and Financial Value - The Iowa Clinic's leadership emphasizes the importance of innovative medical technologies in improving patient care quality [4] - Counterpart's technology is expected to deliver substantial clinical value to The Iowa Clinic's physicians and their Medicare patients, enhancing both immediate and long-term outcomes [4]
Lincoln Educational Services to Provide Business Overview and Highlight Growth Strategy at Midwest IDEAS Conference
GlobeNewswire News Room· 2024-08-23 22:19
PARSIPPANY, N.J., Aug. 23, 2024 (GLOBE NEWSWIRE) -- Lincoln Educational Services Corporation (Nasdaq: LINC) (the "Company"), a national leader in specialized technical training for more than 75 years, today announced that Scott Shaw, President and CEO, will be attending the Midwest IDEAS Conference, being held in Chicago, IL, on August 28th and 29th. Mr. Shaw will highlight the continued business momentum and growth drivers generating increased shareholder valuation, including the continued strong performan ...
Mattr to Present and Host 1x1 Investor Meetings at the 15th Annual Midwest Ideas Investor Conference on August 28th in Chicago, IL
GlobeNewswire News Room· 2024-08-23 20:30
Company Overview - Mattr Corp. is a growth-oriented global materials technology company serving critical infrastructure markets such as transportation, communication, water management, energy, and electrification [4] - The company operates through a network of fixed manufacturing facilities and has two business segments: Composite Technologies and Connection Technologies [4] Upcoming Event - Mattr's President & CEO Mike Reeves and SVP Finance & CFO Tom Holloway will present at the Midwest IDEAS Investor Conference on August 28, 2024, at 11:30 am CT [1] - The presentation will be webcast and accessible through the conference host's website and Mattr's investor relations section [1] IDEAS Investor Conferences - The IDEAS Conferences aim to provide independent venues for quality companies to present their investment merits to investment professionals [2] - The conferences are sponsored by investors for the benefit of regional investment communities, with sponsors managing over $200 billion in assets [2]
FreightCar America, Inc. to Present at Midwest IDEAS Conference
GlobeNewswire News Room· 2024-08-22 20:15
Core Viewpoint - FreightCar America, Inc. is actively engaging with investors through presentations and one-on-one meetings at the upcoming Midwest IDEAS Conference, highlighting its commitment to investor relations and transparency [1][2]. Company Overview - FreightCar America, headquartered in Chicago, Illinois, is a prominent designer, producer, and supplier of railroad freight cars, railcar parts, and components [3]. - The company also specializes in railcar repairs, complete railcar rebody services, and railcar conversions, which repurpose idle rail assets back into revenue service [3]. - Established in 1901, FreightCar America has built a reputation for quality railcars that are essential to economic growth and the North American supply chain [3].