Bernhard Capital Partners Completes Acquisition of New Mexico Gas Company

Rhea-AI Summary

Bernhard Capital Partners, an infrastructure-focused private markets firm, has completed its previously announced acquisition of New Mexico Gas Company (NMGC) from Emera (TSX/NYSE: EMA). NMGC, headquartered in Albuquerque, is New Mexico's largest regulated natural gas utility and ranks among the nation’s top 40 by customer count.

NMGC serves energy to more than 553,000 homes and businesses, representing about 1.3 million customers, and operates with roughly 750 employees and over 12,000 miles of pipelines. Following approval by the New Mexico Public Regulation Commission, NMGC will retain its name, existing management team and Albuquerque headquarters.

The deal expands Bernhard’s portfolio of regulated utilities, which already includes National Water Infrastructure, Clear Current, Delta Gas Company and Magnolia Gas Company, and follows its earlier 2026 agreement to acquire Cleco (subject to approvals). Bernhard reports managing more than $6 billion in assets.

Positive

• Acquisition of NMGC closed, adding New Mexico’s largest regulated gas utility to Bernhard’s portfolio
• NMGC contributes 553,000+ homes and businesses served and 12,000+ miles of pipelines
• Bernhard Capital reports over $6 billion in assets under management, supporting further infrastructure investment scale

Negative

• None.

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BATON ROUGE, La., Aug. 12, 2026 /PRNewswire/ -- Bernhard Capital Partners ("Bernhard"), an infrastructure and services-focused private markets investment firm, announced today that it has closed on its previously announced acquisition of New Mexico Gas Company ("NMGC") from Emera Inc. ("Emera") (TSX/NYSE: EMA).

Headquartered in Albuquerque, NMGC is New Mexico's largest regulated natural gas utility and ranks among the nation's top 40 natural gas utilities by total customer count. NMGC serves more than 550,000 homes and businesses across the state with a team of more than 750 employees.

"Essential infrastructure is what enables strong communities and growing economies. That belief has guided Bernhard Capital Partners since our founding, and it is why we invested in New Mexico Gas Company," said Jeff Jenkins, Founder & Managing Partner at Bernhard. "NMGC is a well-managed utility with a talented workforce, a proven track record and an essential role in New Mexico's future. We are proud to welcome NMGC into the Bernhard portfolio and look forward to working with NMGC's management team, employees, regulators and communities to support continued investment, operational excellence and an unwavering focus on delivering safe, reliable and affordable natural gas service." 

The transaction follows approval from the New Mexico Public Regulation Commission. NMGC will continue operating under its existing name and management team, as well as maintain its headquarters in Albuquerque.

NMGC represents the latest acquisition in Bernhard's growing portfolio of regulated utility companies, which includes National Water Infrastructure, Clear Current, Delta Gas Company and Magnolia Gas Company. Bernhard also announced an agreement to acquire Cleco (subject to approval and closing) earlier this year. 

About Bernhard Capital Partners 

Bernhard Capital Partners is a private markets investment firm focused on building market-leading infrastructure services and asset platforms across essential sectors. With more than $6 billion in assets under management, the firm invests in complex, expansive and often regulated markets characterized by durable demand. Bernhard applies a disciplined, thematic investment strategy, paired with deep sector expertise and operational experience, to enhance performance, scale platforms and support long-term growth. Bernhard's specialized approach is designed to perform across market cycles, delivering consistent outcomes for investors, partners and communities served across the portfolio. For more information, visit bernhardcapital.com. 

About New Mexico Gas Company 

New Mexico Gas Company is the largest natural gas distribution utility in the state, serving about 1.3 million customers by providing energy to more than 553,000 homes and businesses. The Company has about 750 employees in 26 offices who are responsible for safely and reliably operating more than 12,000 miles of pipelines. Learn more at nmgco.com.

Media Contacts

Bernhard Capital Partners
Therese Walker
therese@emergentmethod.com
337-552-4467
and
Prosek Partners for Bernhard Capital Partners
pro-Bernhard@prosek.com

New Mexico Gas Company
Tim Korte
tim.korte@nmgco.com
505-908-8759

View original content:https://www.prnewswire.com/news-releases/bernhard-capital-partners-completes-acquisition-of-new-mexico-gas-company-302849990.html

SOURCE Bernhard Capital Partners

FAQ

Who acquired New Mexico Gas Company in 2026 and from whom was it purchased?

New Mexico Gas Company was acquired by Bernhard Capital Partners from Emera in August 2026. According to Bernhard Capital Partners, the transaction closed after approval from the New Mexico Public Regulation Commission and NMGC remains headquartered in Albuquerque with its existing management team.

What does the sale of New Mexico Gas Company mean for Emera (EMA) shareholders?

Emera completed the divestiture of New Mexico Gas Company to Bernhard Capital Partners in August 2026. According to Bernhard Capital Partners, NMGC is now part of Bernhard’s utility portfolio; this announcement does not disclose sale price, use of proceeds, or specific financial impacts on Emera.

How large is New Mexico Gas Company acquired by Bernhard Capital Partners in August 2026?

New Mexico Gas Company is New Mexico’s largest natural gas distribution utility, serving energy to more than 553,000 homes and businesses. According to New Mexico Gas Company, it supports about 1.3 million customers, operates over 12,000 miles of pipeline and employs roughly 750 people across 26 offices.

Will New Mexico Gas Company change its name or headquarters after the Bernhard Capital acquisition?

New Mexico Gas Company will keep its existing name and remain headquartered in Albuquerque after the acquisition. According to Bernhard Capital Partners, NMGC will also continue under its current management team while collaborating with Bernhard to support investment and operational focus on safe, reliable, affordable service.

How does New Mexico Gas Company fit into Bernhard Capital Partners’ utility portfolio?

New Mexico Gas Company becomes the latest addition to Bernhard Capital Partners’ regulated utility holdings. According to Bernhard Capital Partners, the portfolio already includes National Water Infrastructure, Clear Current, Delta Gas Company and Magnolia Gas Company, alongside an announced agreement to acquire Cleco, subject to approvals.

What is Bernhard Capital Partners’ scale and investment focus following the NMGC acquisition?

Bernhard Capital Partners reports managing more than $6 billion in assets, focused on essential infrastructure services. According to Bernhard Capital Partners, the firm targets complex, often regulated markets with durable demand, using a thematic investment strategy and operational expertise to scale platforms like regulated utilities such as New Mexico Gas Company.