FORT SMITH (KFSM) — A natural gas company, which serves nearly 60,000 customers in Arkansas and Oklahoma, will have new owners.
Summit Utilities announced an agreement Monday (August 8) to acquire Arkansas Oklahoma Gas Corporation (AOG), according to release. The deal is expected to be finalized over the next six to eight months.
“Arkansas Oklahoma Gas Corporation has built a strong foundation in its service territories and a great reputation for quality customer service. We are eager to welcome AOG into the Summit Utilities family and to work together to further the company’s success,” said Kurt Adams, President and Chief Executive Officer. “At Summit Utilities, we see this acquisition as a merger of two great teams that build on each other’s strengths as we continue to grow.”
Summit Utilities will acwuire 100 pecent of the equity of AOG, which has been owned by the family of Witt Stephens, Sr. for 72 years.
Summit is a privately-held holding company that owns and operates natural gas distribution subsidiaries in Colorado, Missouri and Maine. The deal is expected to double Summit’s customer base.
