Boardwalk Pipelines to Enhance Market Position with Spire Marketing Acquisition

Boardwalk Pipelines Expands Operations with Spire Marketing Acquisition

On March 30, 2026, Boardwalk Pipelines, LP confirmed their commitment to growth by announcing an agreement to acquire Spire Marketing Inc., a significant player in the gas marketing sector. This strategic move is designed to broaden Boardwalk's reach and capabilities across the natural gas value chain, aligning with their long-term growth and operational strategies.

The acquisition signifies a notable shift in how Boardwalk Pipelines plans to enhance its marketing capabilities. By integrating Spire Marketing, which possesses an experienced team with extensive industry knowledge and commercial prowess, Boardwalk expects to improve flexibility, connectivity, and the range of energy solutions available to its customers. This is a crucial step as the marketplace for natural gas evolves and grows increasingly complex, thereby demanding more nuanced customer interactions and services.

In a statement regarding the acquisition, Boardwalk's president and CEO Scott Hallam expressed enthusiasm about this venture. He emphasized that bringing in Spire's knowledgeable team would play a vital role in optimizing Boardwalk's assets, thereby better addressing their customers' diverse energy requirements. The partnership promises to harness collective strengths to not only enhance customer relationships but also to adapt to the dynamic nature of America's energy sector.

Scott Doyle, the CEO of Spire, also weighed in on the transaction, articulating that the divestiture of their gas marketing business allows Spire to focus more sharply on their core regulated utility operations. He noted that selling Spire Marketing simplifies their business structure, improving risk management and advancing earnings predictability. Doyle expressed gratitude towards the Spire Marketing team for their contributions and dedication over the years, wishing them success as they transition under new management.

Pat Strange, President of Spire Marketing, shared excitement over joining Boardwalk, highlighting the positive industry presence and acknowledgment of the importance of marketing and trading capabilities the company possesses. Strange reassured employees and clients alike of a seamless transition, allaying any concerns regarding operational continuity.

The transaction is poised for completion in the second quarter of 2026, contingent upon regulatory approvals and customary closing conditions. For this acquisition, Barclays has taken on the role of financial advisor while legal representation is provided by GableGotwals.

Why This Acquisition Matters

The integration of Spire Marketing into Boardwalk Pipelines is more than a mere business transaction; it marks a concerted effort to adapt to the evolving energy landscape. As energy reliability and market connectivity become increasingly paramount, companies in the sector must seize opportunities to innovate and optimize their offerings. Overall, synthesizing expertise, resources, and market presence represents a proactive approach to ensuring sustained growth and value creation.

About Boardwalk Pipelines

Boardwalk Pipelines specializes in delivering reliable energy by strategically connecting natural gas supplies to markets and communities reliant on them. With a comprehensive network of interstate and intrastate pipelines alongside underground storage operations, Boardwalk plays a crucial role in promoting energy reliability and market connectivity across the United States, ensuring the efficient flow of resources to meet growing demand.

About Spire Inc.

Spire Inc. is recognized as one of the nation’s leading publicly traded natural gas companies, providing service to over 1.7 million households and businesses. Their dedication to improving lives through energy began at its core, focusing on delivering reliable natural gas solutions while continually investing in growth,
infrastructure, and improvements across their service areas.

The impending acquisition marks a significant shift in both companies' trajectories, underscoring their commitment to addressing the evolving energy needs of their customer base. As they move forward, both Boardwalk Pipelines and Spire Marketing are poised to make impactful contributions to the landscape of energy delivery in the United States.