Business · Companies · 3 hrs ago
PSP Investments to buy half of Enercare from Brookfield for $1.6-billion
PSP Investments will pay $1.6-billion for half of Enercare, an Ontario-based home services company.
Brookfield Asset Management, which took Enercare private in 2018, will remain a co-owner.
Enercare serves more than 1.4 million homes and businesses in Canada with rentals and sales of equipment such as water heaters and furnaces, plus protection plans.
Its rental contracts bring in relatively steady revenue, and PSP sees the business as a long-term investment in essential services.
The deal gives PSP joint ownership of a growing company that has expanded into Quebec and is starting to enter Western Canada.
PSP and Brookfield plan to keep Enercare’s management team and seek to grow its customer base with new products and services.
The investment also supports PSP’s plan to increase its Canadian holdings from $75-billion to $100-billion in the next few years.
PSP Investments will pay $1.6-billion for a 50-per-cent stake in Enercare from Brookfield Asset Management.
The deal makes PSP a joint owner of the Ontario-based home services company alongside Brookfield.
Enercare rents and sells home equipment and protection plans to more than 1.4 million homes and businesses in Canada.
PSP sees the investment as a way to hold an essential-services business that may help protect against rising inflation.
The owners plan to retain Enercare’s management team and grow its customer base with new products and services.
- Who
- PSP Investments is buying the stake from Brookfield Asset Management. The companies will jointly own Enercare.
- What
- PSP will pay $1.6-billion for a 50-per-cent stake in Enercare.
- When
- The deal was reported on Nov. 9, 2026.
- Where
- Enercare is based in Markham, Ontario, and serves customers in Canada.
- Why
- PSP is investing in an essential-services business it expects to provide stability and help protect against inflation.
This story does not have two clearly opposing sides.
Brookfield took Enercare private in a deal worth $4.3-billion including debt.
PSP Investments agreed to pay $1.6-billion for a 50-per-cent stake in Enercare from Brookfield.
- Purchase price
- $1.6-billion
- Stake being acquired
- 50 per cent
- Enercare customer base
- More than 1.4 million homes and businesses in Canada
- Brookfield’s take-private deal
- $4.3-billion including debt in 2018
- PSP assets under management
- $321-billion
What people are saying
We just think it’s really a strong, long-term business for us
We look for things that provide stability over the long-term, so essential infrastructure assets
We are looking to grow the portfolio. This is a helpful addition to that.