Public utility holding company Unitil Corp., based in Hampton, N.H., has agreed to purchase Westborough, Mass.-based Northern Utilities Inc., which services 52,000 customers in Maine and New Hampshire.
Unitil purchased the natural gas distributor Northern Utilities, along with Granite State Gas Transmission Inc., from Indiana-based NiSource Inc. for $160 million plus an estimated $25 million in working capital, according to a press release. Maine and New Hampshire’s Public Utilities Commissions must approve the transaction, which is expected to close by the fourth quarter of 2008.