Solaris Energy Infrastructure Acquires Mobile Energy Rentals
July 9, 2024
Solaris Oilfield Infrastructure (renaming to Solaris Energy Infrastructure) has acquired Mobile Energy Rentals LLC for $200 million in a transaction that includes $60 million cash and ~16.5 million Solaris Class B shares issued to MER's founders and management. The deal expands Solaris' distributed power capabilities and end-market exposure (including oil & gas, data centers and C&I), adds a contracted mobile turbine fleet (153 MW today, expected to grow to 478 MW by Q3 2025) and is supported by new debt financing to fund fleet expansion.
- Buyers
- Solaris Oilfield Infrastructure, Inc. (now Solaris Energy Infrastructure, Inc.)
- Targets
- Mobile Energy Rentals LLC
- Sellers
- MER shareholders (founders and management)
- Industry
- Energy
- Location
- Texas, United States
- Transaction Type
- Buyout
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