Energy, Inc. (EGAS) said Tuesday that it has completed the acquisitions of the parent companies of Orwell Natural Gas Co. and Northeast Ohio Natural Gas Corp., and Brainard Gas Corp., as well as Great Plains Land Development, LTD.
Orwell, Northeast Ohio Natural Gas and Brainard are natural gas distribution companies headquartered in Mentor, Ohio that serve 23,131 customers in Northeastern Ohio and Western Pennsylvania.
Energy, Inc. said the acquisitions increased its customer base by more than 50%.
Great Plains Land Development is a real estate holding company whose primary asset is real estate that is leased to Northeast Ohio Natural Gas.
The companies were primarily owned by a trust controlled by Richard Osborne, Energy, Inc.'s chief executive officer and chairman of the board.
The acquisitions were completed by four separate mergers of Energy, Inc.'s wholly-owned Ohio acquisition subsidiaries with and into each of the acquired companies. In connection with the mergers, Energy, Inc. issued 1,707,308 unregistered shares of its common stock. In addition, the acquired companies have debt as of the closing date of $20.8 million.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.