NEW ORLEANS — Entergy plans to sell its gas distribution business to Bernhard Capital Partners, a services and infrastructure-focused private equity management firm, for approximately $484 million in cash, subject to certain purchase price adjustments.

Entergy Louisiana’s gas business serves approximately 95,000 homes and businesses in the Baton Rouge area, and Entergy New Orleans’ gas business serves approximately 109,000 homes and businesses in New Orleans.

Based in Baton Rouge, Louisiana, Bernhard Capital focuses on investing in companies that provide critical services to government, infrastructure, industrial, utility and energy sectors, as well as investing in utility assets. To date, Bernhard Capital has invested in over 65 service-focused companies across 19 platforms, including several utility companies that collectively employ more than 19,000 people globally.

The sale is expected to close in approximately 21 months, inclusive of the regulatory review process and a transition period.

For more information, visit entergy.com.