Boardwalk Pipeline Partners, LP has entered into an agreement to acquire Spire Marketing Inc. from Spire Inc., expanding its footprint across the natural gas value chain and strengthening its long-term growth strategy.
The transaction is designed to enhance Boardwalk’s marketing capabilities, broaden its customer reach, and increase flexibility for clients seeking diverse energy solutions. By integrating Spire Marketing’s commercial expertise, Boardwalk aims to optimize natural gas flows and deepen customer relationships across key U.S. markets.
Spire, meanwhile, is divesting the business as part of a strategic effort to focus on its core regulated utility operations, simplify its portfolio, and improve earnings visibility.
The deal is expected to close in the second quarter of 2026, subject to regulatory approvals and customary closing conditions. Barclays is serving as financial advisor and GableGotwals as legal counsel to Boardwalk.
KEY QUOTES:
“This is a step forward for Boardwalk as we continue to expand our participation across the natural gas value chain. By bringing on an experienced team with deep market expertise and established commercial capabilities, we seek to strengthen our asset optimization and more effectively serve our customers’ increasingly complex energy needs. We were impressed by the strength and depth of Spire Marketing’s management team, and we look forward to partnering with them as we build upon this platform.”
Scott Hallam, President And Chief Executive Officer, Boardwalk Pipelines
“As we continue to sharpen our focus on our core regulated utility operations at Spire, we have entered into an agreement to sell our gas marketing business. The sale simplifies our business mix, improves our risk profile and enhances long-term earnings visibility. Spire Marketing has been an important contributor to Spire over the years, and we are grateful to the employees for their dedication and contributions. We wish them continued success as they transition to new ownership.”
Scott Doyle, President And Chief Executive Officer, Spire
“We are excited to join Boardwalk, which has such a positive industry presence and reputation to go along with a vision that recognizes the value and need for marketing and trading capabilities. We expect a seamless transition for our employees and clients as we join Boardwalk and continue to move our business forward.”
Pat Strange, President, Spire Marketing
