PSP Investments says it has signed a deal to purchase a 50 per cent stake in Enercare for $1.6 billion, with closing expected in the first half of 2027.
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PSP Investments says it has signed a deal to buy a 50 per cent stake in home services company Enercare Inc. for $1.6 billion from Brookfield and its institutional partners.
Enercare provides homeowners and businesses with equipment and services including water heaters, heating, ventilation and air conditioning equipment, water purification systems and related services.
The company serves 1.4 million Canadian homes and businesses, mostly in Ontario and Quebec, as well as Western Canada.
PSP Investments has been an investor in Enercare since 2018, when it co-invested alongside Brookfield in the privatization of Enercare.
The investment manager said it remains committed to Enercare’s long-term growth through continued expansion of its customer base, introduction of new products and services and other initiatives.
PSP Investments said the deal is expected to close in the first half of 2027, subject to regulatory approvals.
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