DTE Energy Services’ $100 Million Acquisition of Marina Thermal Facility

Guggenheim Securities acted as financial advisor and Morgan, Lewis and Bockius, LLP acted as legal advisor to SJI.

DTE Energy Services executed the acquisition of Marina Thermal Facility, through its wholly owned subsidiary, Marina Energy LLC, from SJI for approximately $100 million in cash.

Located in Atlantic City, New Jersey, the Marina Thermal Facility is an eight-megawatt combined heat and power generation facility that provides electricity and hot and chilled water to both Borgata Hotel Casino & Spa and The Water Club.

SJI, an energy services holding company based in Folsom, NJ, delivers energy services to its customers through three primary subsidiaries.

Morgan Lewis team advising SJI was led by Partners Michael Muller (Picture) and Kirstin Gibbs and associate Kathryn Ostman, with assistance from of counsel Christopher McAuliffe.

Involved fees earner: Kirstin Gibbs – Morgan Lewis; Christopher McAuliffe – Morgan Lewis; Michael Müller – Morgan Lewis; Kathryn Ostman – Morgan Lewis;

Law Firms: Morgan Lewis;

Clients: South Jersey Industries;

Author: Ambrogio Visconti