Jim Bernhard, founder & partner, Bernhard Capital Partners.
Emera Inc., an international energy holding company headquartered in Canada, has entered into an agreement to sell its wholly owned subsidiary New Mexico Gas Company Inc. to Baton Rouge-based Bernhard Capital Partners.
The local private equity firm will acquire NMGC for an aggregate transaction value of $1.252 billion including the assumption of about $500 million in debt, according to a statement. The transaction is subject to regulatory approval by the New Mexico Public Regulation Commission and is expected to close in late 2025.
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Based in Albuquerque, New Mexico, NMGC maintains over 12,000 miles of transmission and distribution pipelines and provides service to more 545,000 commercial, residential and transportation customers. It is the largest natural gas utility in New Mexico. Emera acquired NMGC as part of its acquisition of TECO Energy Inc. in 2016.
“This investment directly aligns with Bernhard Capital’s strategy to invest in infrastructure assets and utilities that are critical to building more resilient communities,” says Jeff Jenkins, founder and partner at Bernhard Capital Partners.
News of the transaction follows a string of acquisitions by Bernhard Capital Partners. Just this year, it has acquired a nuclear consulting firm, a government technology services provider and a multidisciplinary development advisory and program management company.
After Lance St. Louis served as the starting long snapper for the Texas Longhorns for four seasons, special teams coordinator Jeff Banks landed an experienced replacement when New Mexico Lobos transfer Trey Dubuc pledged while on a visit to the Forty Acres.
The pledge from Dubuc ensures that Texas has experienced replacements for three specialists despite signing high school prospects at each position — with the SEC expanding to 105 scholarships in 2026, Longhorns head coach Steve Sarkisian can afford to develop high school recruits at those positions behind experienced transfers like Dubuc.
The Fort Lauderdale product started his career at USF after playing on two state championship teams at Cardinal Gibbons. A 6’1, 209-pounder, Dubuc redshirted during his freshman season in 2023 before appearing in one game as the backup long snapper the following year.
After transferring to New Mexico, Dubuc served as the starting long snapper while making two tackles for the Lobos.
SALT LAKE CITY — A missionary for The Church of Jesus Christ of Latter-day Saints from Utah has passed away in his sleep unexpectedly Saturday in New Mexico, according to a news release from The Church.
Elder Caleb Gene Martin, 21, died from a medical cause that has not been determined, Church spokesman Sam Penrod said in a statement.
According to The Church, Martin had been serving in the New Mexico Farmington Mission since May 2024. He was from Salem, Utah.
Elder Caleb Gene Martin, 21, died in his sleep on Jan. 3 from a medical cause that has yet to be determined. He was serving in the New Mexico Farmington Mission. (The Church of Jesus Christ of Latter-day Saints)
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“We extend our heartfelt condolences to his family, friends and fellow missionaries. We pray they will find comfort and strength through their faith in the gospel of Jesus Christ and feel the Savior’s love as they honor Elder Martin’s life and devoted missionary service,” the statement said.
