New Mexico Gas Company serves approximately 553,000 homes and businesses, maintaining over 12,000 miles of pipelines with a workforce of 750 employees. Despite the change in ownership, the utility will retain its existing management team and continue operations from its headquarters in Albuquerque. The company ranks among the top 40 natural gas utilities in the United States by customer count.

Jeff Jenkins, founder and managing partner at Bernhard, stated that the acquisition aligns with the firm’s strategy of investing in essential infrastructure that supports regional economic growth. This transaction adds to Bernhard’s expanding utility holdings, which currently include National Water Infrastructure, Clear Current, and Delta Gas Company. The firm, which manages over $6 billion in assets, also previously reached an agreement to acquire Cleco, pending final regulatory authorization.