PSP Investments has deepened its investment in Enercare by purchasing a 50% stake from Brookfield for C$1.6bn (approximately $1.15bn). This follows the 2018 deal where Brookfield bought Enercare private at C$29 per share, valuing the company at C$4.3bn including debt. PSP is now co-investing with Brookfield and institutional partners, expanding its presence in the North American home and commercial services sector.
Enercare operates in Canada and the US under the Enercare and Service Experts brands. The 2018 transaction represented a 53% premium to Enercare’s prior close, and shares were delisted from the Toronto Stock Exchange that October. PSP’s new acquisition builds on its earlier co-investment, signaling continued strategic alignment with Brookfield Infrastructure.
The move positions PSP to gain greater influence over Enercare’s growth and services portfolio.
Source: PE Insights · Summarized by HeadlinesBriefing