Seale Advises WGL Holdings, Inc. on the Sale of its Mechanical Contracting Business to Milestone Capital Management LLC
WASHINGTON, D.C. - Seale & Associates, Inc. announced that it acted as exclusive financial advisor to WGL Holdings, Inc. (NYSE: WGL), the parent company of Washington Gas, on the divestiture of American Combustion Industries, Inc. ("ACI") to Milestone Capital Management, LLC. Specific terms of the transaction were not disclosed.
ACI is a full-service mechanical contractor serving industrial, commercial, and institutional customers in Washington D.C., Maryland, and Virginia. ACI provides a wide variety of building services to its clients including facility assessment, mechanical, electrical, plumbing, and maintenance services.
WGL Holdings, Inc., through its subsidiaries, sells and delivers natural gas and provides a variety of energy-related products and services to customers primarily in the Washington, D.C. metropolitan area. WGL Holdings has three operating segments: regulated utility, retail energy-marketing and commercial heating, ventilating and air conditioning products and services. WGL Holdings� core subsidiary, Washington Gas, is engaged in the delivery and sale of natural gas that is predominantly regulated by state regulatory commissions. Through wholly owned subsidiaries of Washington Gas Resources, it offers energy-related products and services that are closely related to its core business.
Seale & Associates, Inc., headquartered in Arlington, Virginia, is a global investment banking firm with extensive experience in mergers and acquisitions, corporate finance advisory, and enterprise level strategy consulting. Our professionals are trusted advisors maintaining a high level of quality and integrity while presenting innovative ideas and solutions to address our clients' most complex dealings. Seale Capital, Inc., an affiliate of Seale & Associates, Inc., is a registered broker dealer and member of FINRA and SIPC. All securities related transactions are cleared through Seale Capital, Inc. For more information please visit www.sealeassociates.com.