PSP Investments buying 50 per cent stake in Enercare for $1.6 billion
The Public Sector Pension Investment Board (PSP Investments) has announced it has reached an agreement to acquire a 50% stake in Enercare Inc., a home services company, from Brookfield and its institutional partners for $1.6 billion. PSP Investments has been a shareholder in Enercare since 2018 when they co-invested with Brookfield in Enercare's privatization.
Enercare offers services such as water heaters, heating, ventilation, air conditioning equipment, water purification systems, and related services to 1.4 million Canadian homes and businesses, primarily in Ontario and Quebec, with some operations in Western Canada. The investment manager stated their continued commitment to Enercare's long-term growth through product expansion, new services, and other initiatives.
The acquisition is anticipated to be finalized in the first half of 2027, pending regulatory approvals.
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