OEC, Oakville, and Enbridge enter strategic partnership

Oakville Enterprises Corporation (OEC) is entering into a strategic partnership with Enbridge Inc. (Enbridge) that will enhance dividend growth by providing access to significant additional capital for OEC to invest in business growth opportunities.

This strategic partnership sees Enbridge investing into OEC and becoming minority shareholder. The Corporation of the Town of Oakville will continue as majority shareholder. Enbridge is using one of its subsidiaries, Enbridge Sustainable Energy Solutions Inc., to be the entity holding the shares and as signatory to the agreements.

The amounts secured from Enbridge will be reinvested into OEC. Benefits of this partnership are many, including OEC having the ability to grow and diversify its businesses thereby driving higher growth and dividend streams to its shareholders. A large utility partner like Enbridge provides strong partnerships and ready capital for municipal infrastructure such as district energy and geo-exchange facilities.

OEC serves the infrastructure, energy, renewable generation, electricity and gas distribution sectors. With over 2,000 employees, OEC provides insightful, reliable energy and infrastructure solutions to clients across Canada and beyond. 

Driven to Lead, Innovate and Commit to Excellence, OEC partners with clients to create value. The group of companies delivers end-to-end solutions from conception and design to engineering, construction and comprehensive field services.  

To find out about OEC, visit the Oakville Enterprises Corporation website oecorp.ca or connect with us on LinkedIn or Twitter. 

Enbridge Inc. is a leading North American energy infrastructure company. Enbridge safely and reliably delivers the energy people need and want to fuel quality of life. Enbridge’s core businesses include Liquids Pipelines, which transports approximately 25 percent of the crude oil produced in North America; Gas Transmission and Midstream, which transports approximately 20 percent of the natural gas consumed in the U.S.; Gas Distribution and Storage, which serves approximately 3.8 million retail customers in Ontario and Quebec; and Renewable Power Generation, which generates approximately 1,766 MW of net renewable power in North America and Europe.

The Company's common shares trade on the Toronto and New York stock exchanges under the symbol ENB. For more information, visit the Enbridge website.

“We on Council are happy to welcome Enbridge as a partner in this next chapter of OEC’s growth. Enbridge’s investment takes OEC to its next stage of potential faster than possible without the investment. Our alliance will be a big boost to Council’s 16-year commitment to develop new, non-tax revenues for residents’ new facility and infrastructure expectations without putting pressure on property taxes.”

“OEC is excited to enter this partnership with Enbridge. We have a strong history of working with Enbridge and share common values as well as a customer-first approach to everything we do. Enbridge’s North American reach makes them an ideal partner as we continue to expand our operations.”

“OEC is a good strategic fit within Enbridge’s diversified energy portfolio and will be a great addition as we continue to evolve our business model. We look forward to partnering with OEC to unlock innovative energy solutions as we advance the transition to a sustainable energy future.”