Alley noted the deal will be held within PSP’s High Inflation Correlated Infrastructure (HICI) portfolio and will rank among the fund’s most significant direct infrastructure investments in Canada.
A long-standing partnership with Brookfield
PSP Investments is not new to Enercare. The fund co-invested alongside Brookfield when the company was taken private in 2018, in a deal then valued at $4.3 billion. Since that privatisation, Enercare has expanded beyond its Ontario base into Quebec and Western Canada, growing both its customer base and product range.
The November 2026 transaction rebalances ownership between the two partners. Brookfield will retain a 50 per cent stake and continue working with PSP on strategic direction.
Both parties have committed to Enercare’s ongoing growth through customer base expansion, new product and service introductions, and other long-term initiatives. The existing management team, led by Nick Perreten, President and Chief Executive Officer of Enercare, will continue to run day-to-day operations.
“We are excited to continue executing on our strategy with the continued support of two long-term investors who share our commitment to customer service, operational excellence and strategic growth,” said Perreten. “The backing of Brookfield and PSP will help make our customer promise even stronger.”
