PSP Investments buying 50 per cent stake in Enercare for $1.6 billion
The Public Sector Pension Investment Board says it has signed a deal to buy a 50 per cent stake in home services company Enercare Inc. from Brookfield and its institutional partners for $1.6 billion.
Enercare provides homeowners and businesses with things such as water heaters, heating, ventilation and air conditioning equipment, water purification systems and related services.
It serves 1.4 million Canadian homes and businesses, mostly in Ontario and Quebec, but also Western Canada.
PSP Investments has been an investor in Enercare since 2018, when it co-invested alongside Brookfield in the privatization of Enercare.
The investment manager says they remain committed to Enercare's long-term growth through continued expansion of its customer base, introduction of new products and services and other initiatives.
The deal is expected to close in the first half of 2027, subject to regulatory approvals.
This report by The Canadian Press was first published Nov. 9, 2026.
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