Northleaf / Provident Acquire PowerStream Energy Services from Alectra

Northleaf Capital Partners Acquires Majority Stake in Provident Energy Management

August 2, 2023

Energy

Funds managed by Northleaf Capital Partners have acquired a majority stake in Provident Energy Management Inc., a Canadian provider of sub-metering, building automation and energy consulting services focused on the multi-residential new construction market. Provident's management will retain a minority interest; the partnership is intended to accelerate growth and expand Provident's services across additional markets in Canada and the United States.

Arcline Investment Management Acquires Electric Power Systems and North American Substation Services

April 21, 2021

Infrastructure

Arcline Investment Management acquired Electric Power Systems (EPS) and North American Substation Services (NASS) from Industrial Growth Partners to create a leading electric infrastructure services platform (now branded Voltyx). Industrial Growth Partners retained a minority stake in the combined business; the deal brings together protection and control engineering, high-voltage apparatus testing, and substation maintenance capabilities to serve utilities, renewable energy, data center and commercial customers.

LS Power Acquires Algonquin Power & Utilities' Renewable Energy Business

January 8, 2025

Energy

LS Power completed the acquisition of Algonquin Power & Utilities Corp.’s large-scale renewable energy business on January 8, 2025. LS Power created Clearlight Energy to operate the acquired ~3,000+ MW of operating wind, solar, battery and RNG assets, while its REV Renewables unit will acquire the remaining ~6,200 MW of development projects, expanding LS Power’s utility-scale renewables and storage footprint across the United States and Canada.

Integrated Power Services Acquires Surplec

June 23, 2023

Industrial Services

Integrated Power Services (IPS), a Greenville, South Carolina–based provider of power management and electromechanical services, has acquired Surplec, a Sherbrooke, Quebec–headquartered specialist in remanufacturing and managing surplus medium- and high-voltage transformers. The deal adds transformer remanufacturing, repair, rental and high‑voltage testing capabilities to IPS’s Canadian footprint and expands service coverage across Quebec, Ontario and Alberta.

FirstLight Power Acquires Hydroméga Services Inc.

September 13, 2023

Energy

FirstLight Power has signed an agreement to acquire Hydroméga Services Inc., adding ownership interests in ten operating hydroelectric stations across Québec and Northeastern Ontario and a development pipeline of over 2 GW of wind, solar, storage, and hydro projects. The deal expands FirstLight's North American development pipeline to ~4 GW and increases its operating capacity in Québec and Ontario; the transaction was expected to close in Q4 2023 and remains subject to customary closing conditions.

Greenbelt Capital Leads Acquisition of Saber Power Services from Oaktree

November 1, 2023

Energy

An investor group led by Greenbelt Capital Management, alongside funds managed by Schroders Capital, StepStone Group and Wafra Inc., has completed the acquisition of Saber Power Services from funds managed by Oaktree Capital Management. Saber’s management will retain a significant stake, and Blackstone Credit provided debt and equity financing to support the transaction; the Houston-area electrical infrastructure services firm will partner with Greenbelt to accelerate growth in grid modernization and energy-transition markets.