Recent Energy Acquisitions
Acquisition Volume in Energy by Year
Last 5 years
This page highlights recent acquisitions and investments across the Energy industry, covering transactions in oil & gas distribution, power generation, renewables, energy software, and services. Recent deals include control investments, strategic minority stakes, continuation fund activity, and tuck‑ins that expand operational capabilities.
Buyers include private equity and strategic energy investors such as Trive Capital, TA Associates, and BKV Corporation, while targets range from fuel distributors and propane platforms to grid‑scale developers, methane detection firms, and nuclear engineering specialists. Geographic activity is centered in the United States (notably Texas and Illinois) with notable transactions in Norway, Canada, Turkey and Hong Kong.
What Stands Out
- Private equity and strategic energy investors are active: examples include Trive Capital, TA Associates, Boyne Capital, and BKV Corporation.
- Capability expansion is a recurring theme: deals add grid‑scale development and data‑center power expertise (e.g., Scale + Reload), methane detection and asset intelligence (e.g., Zeitview + Insight M), high‑voltage and substation automation, and nuclear radiological services.
- Transaction types vary: control investments, minority equity investments, continuation funds to extend platform ownership, and majority JV acquisitions (e.g., BKV increasing its JV stake).
- Geographic mix: many U.S. transactions (Texas, Illinois, California, Kentucky) alongside international activity in Norway, British Columbia (Canada), Turkey, and Hong Kong.
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- Buyer
- Cox
- Target
- Iberdrola Mexico business (Iberdrola’s Mexico electricity assets)
- Seller
- Iberdrola
- Industry
- Energy
- Location
- Mexico
- Type
- Buyout
Cox has agreed to acquire Iberdrola’s Mexico business in a €3.6 billion (about $4.2 billion) transaction backed by Goldman Sachs and a seven-bank syndicate. The deal will add more than 2.6GW of installed capacity across 15 generation plants (wind, solar PV, and cogeneration/combined-cycle) and includes the integration of roughly 700 employees to support ongoing operations and expansion in Mexico.
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S&P Global completed its acquisition of Enertel AI Corporation, an AI-driven company focused on short-term power price forecasting for North American electricity markets. The deal adds real-time, AI-powered nodal forecasting capabilities to S&P Global Energy’s existing long-term market intelligence, supporting customers such as physical power traders, utilities, and asset operators.
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March 19, 2026
- Buyer
- Kyuden International Corporation, Kyuden International Americas, Inc.
- Target
- IHI Power Services Corp.
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
IHI Power Services Corp. (IPSC) has entered into an agreement to be acquired by Kyuden International Corporation, through its U.S. subsidiary Kyuden International Americas, Inc., pending customary regulatory approvals and closing conditions. The combination is intended to expand IPSC’s U.S. operations and maintenance, asset management, and technical/compliance capabilities and accelerate Kyuden’s first O&M-focused investment in the United States.
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- Buyer
- Nippon Yusen Kabushiki Kaisha (NYK Line)
- Target
- Avenir LNG Limited
- Seller
- Stolt-Nielsen Gas Ltd.
- Industry
- Energy
- Type
- Growth capital
Stolt-Nielsen Limited, through its subsidiary Stolt-Nielsen Gas Ltd., entered into a share purchase agreement to sell 50% of Avenir LNG Limited to Nippon Yusen Kabushiki Kaisha (NYK Line). The transaction is expected to close in mid-2026, pending customary regulatory approvals, as the parties aim to expand small-scale LNG and LNG bunkering opportunities.
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March 15, 2026
- Buyer
- ArcLight Capital Partners
- Target
- Invenergy AMPCI Thermal Power (IATP)
- Seller
- InfraBridge
- Industry
- Energy
- Location
- United Kingdom
- Type
- Buyout
ArcLight Capital Partners has signed a definitive agreement to acquire InfraBridge’s 50% stake in Invenergy AMPCI Thermal Power (IATP), a jointly owned 5.4 GW contracted power portfolio across North America. The portfolio includes 11 combined-cycle power facilities in the United States and Canada, and Invenergy will retain its existing ownership stake and continue operating the assets.
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March 14, 2026
- Buyer
- Lyten
- Target
- Northvolt Revolt Ett battery recycling facility (Revolt Ett)
- Seller
- Northvolt
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Lyten announced it has entered into a binding agreement to acquire Northvolt’s Revolt Ett battery recycling facility in Skellefteå, Sweden. The company plans to integrate recycling into its expanding Skellefteå industrial hub and create a vertically integrated battery ecosystem (manufacturing, research, and materials recovery), with the deal expected to close in the second quarter of 2026. Financial terms were not disclosed.
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March 12, 2026
- Buyer
- Ara Energy
- Target
- Gate City Power, Gate City Renewable Fuels, JET retail fuel network interest
- Seller
- HF Capital
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Ara Partners’ energy platform, Ara Energy, will acquire Gate City Power, Gate City Renewable Fuels, and an interest in the JET retail fuel network for approximately $875 million. The deal is financed with equity from Ara-managed funds and co-investment vehicles and is expected to close in early 2026, subject to regulatory approvals and customary closing conditions.
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- Buyer
- MidOcean Energy
- Target
- JERA Gorgon Pty Ltd
- Seller
- JERA Co., Inc.
- Industry
- Energy
- Location
- District of Columbia, United States
- Type
- Buyout
MidOcean Energy, formed and managed by EIG, entered into definitive agreements to acquire JERA Gorgon Pty Ltd, which holds JERA’s 0.417% interest in the Gorgon LNG project, increasing MidOcean’s stake to 1.417%. The deal also includes JERA’s 0.735% interest in the Ichthys LNG project, which is expected to be transferred to an existing Ichthys joint venture participant after sale to MidOcean, subject to conditions precedent.
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- Buyer
- Studsvik AB
- Target
- Kärnfull Next AB (KNXT)
- Seller
- Kärnfull Next founders Christian Sjölander and John Ahlberg (will join Studsvik’s executive team)
- Industry
- Energy
- Location
- Sweden
- Type
- Buyout
Studsvik AB announced it will acquire Kärnfull Next AB (KNXT) for an enterprise value of approximately €6.5 million on a cash-free, debt-free basis. The acquisition adds technology-agnostic small modular reactor (SMR) project development capabilities to Studsvik’s existing nuclear services platform and is expected to close in Q2 2026, subject to regulatory approvals.
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March 8, 2026
- Buyer
- Holyvolt
- Target
- Wildcat Discovery Technologies
- Industry
- Energy
- Location
- United States
- Type
- Buyout
Holyvolt completed the acquisition of U.S.-based Wildcat Discovery Technologies, bringing together Holyvolt’s manufacturing technologies and Wildcat’s high-throughput battery materials discovery platform. The companies said the integration is meant to shorten the path from lab breakthroughs to industrial battery production and strengthen battery supply chains in Europe and North America.
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Power2X, a clean energy company focused on industrial decarbonization, announced it has acquired Netherlands-based green hydrogen project developer HyCC. The acquisition is intended to scale delivery of HyCC’s hydrogen and “clean molecule” projects across key industrial hubs in the Netherlands and Germany as projects move from early-stage development to large-scale operations.
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- Buyer
- Trive Capital, Rolfson Oil, Flint Logistics Group
- Target
- Rolfson Oil, Flint Logistics Group
- Industry
- Energy
- Location
- Texas, United States
- Type
- Addon
Trive Capital, a Dallas-based private equity firm, invested in Rolfson Oil, a distributor of fuel, oils, and lubricants serving the energy sector. After the investment, Rolfson acquired Flint Logistics Group, expanding Rolfson’s footprint across Oklahoma, Texas, and New Mexico and improving operational efficiency to support growth.
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February 25, 2026
- Buyer
- INNIO Group
- Target
- Enerflex APAC aftermarket business operations (Australia, Thailand and Indonesia)
- Seller
- Enerflex Ltd.
- Industry
- Energy
- Location
- Australia
- Type
- Buyout
INNIO Group has signed a definitive agreement to acquire Enerflex’s aftermarket business operations in Australia, Thailand, and Indonesia. The deal is intended to expand INNIO’s service capabilities and strengthen its customer proximity in Asia-Pacific, with closing expected in the second half of 2026 subject to regulatory approvals.
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- Buyer
- Scale, EQT
- Target
- Reload
- Industry
- Energy
- Location
- Illinois, United States
- Type
- Addon
Scale, an EQT-backed provider of on-site energy solutions, has acquired Reload, a powered land development platform focused on siting, designing, and permitting gigawatt-scale data center campuses. The deal adds Reload's grid-scale development expertise and multi-gigawatt pipeline to Scale's data center energy offering to accelerate speed-to-power for hyperscalers and other large customers.
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February 23, 2026
- Buyer
- Generac Holdings Inc.
- Target
- Enercon Engineering, Inc.
- Industry
- Energy
- Location
- Illinois, United States
- Type
- Buyout
Generac Holdings Inc. has signed a definitive agreement to acquire Enercon Engineering, Inc., a manufacturer of generator enclosures and UL-certified switchgear for mission-critical applications. The acquisition is intended to expand Generac’s Commercial & Industrial capabilities and support growing demand for backup power in data center and other mission-critical markets, with closing anticipated in Q2 2026 subject to regulatory approvals.
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February 18, 2026
- Buyer
- MidCentral Energy Partners
- Target
- Expanse Electrical Company
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
MidCentral Energy Partners has acquired Expanse Electrical Company, a provider of electrical, automation, and power infrastructure services. The acquisition expands MidCentral's capabilities in high-voltage construction, substation automation, and field-level controls to better serve oil & gas, utility, data center, and industrial customers.
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February 18, 2026
- Buyer
- Perch Energy
- Target
- Solstice (Solstice Power Technologies LLC)
- Seller
- MyPower (a wholly-owned subsidiary of Mitsui & Co.), Mitsui & Co.
- Industry
- Energy
- Location
- Massachusetts, United States
- Type
- Buyout
Perch Energy announced it is acquiring Solstice, a community solar customer acquisition and management service provider formerly owned by MyPower (a wholly owned subsidiary of Mitsui & Co.). The deal combines Perch and Solstice’s platforms and under-contract/operational solar projects, positioning Perch as a larger community solar acquisition and management servicing platform across the U.S.
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February 17, 2026
- Buyer
- Agnico Eagle Mines Limited
- Target
- Maple Gold Mines Ltd.
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Growth capital
Agnico Eagle Mines Limited purchased 662,780 common shares of Maple Gold Mines Ltd. at C$2.45 per share for total consideration of C$1,623,811, increasing its stake in Maple to approximately 12.98% on a non-diluted basis. The investment was made from several sellers who participated in a flow-through offering and is part of Agnico Eagle's strategy to acquire strategic positions in prospective exploration opportunities.
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February 13, 2026
- Buyer
- Teine Energy Ltd.
- Target
- TMax Energy Ltd.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
Teine Energy Ltd. has entered into a definitive agreement to acquire all outstanding shares of TMax Energy Ltd. to increase Teine’s Duvernay acreage to over 700 sections. The acquisition follows Teine’s current production of more than 10,000 boe per day from its Carrot Creek Duvernay lands.
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February 13, 2026
- Buyer
- TA Associates, Advent International, Generation Investment Management, Arendals Fossekompani
- Target
- Volue
- Seller
- Arendals Fossekompani
- Industry
- Energy
- Location
- Oslo, Norway
- Type
- Growth capital
TA Associates joined as a new strategic investment partner in Volue, investing alongside existing shareholders Advent International, Generation Investment Management, and Arendals Fossekompani. The deal values Volue at about €1.5 billion (100% basis) and includes cash proceeds of approximately EUR 38 million to Arendals Fossekompani, with Arendals Fossekompani’s ownership expected to be around 36% after closing (subject to regulatory approvals and closing adjustments).
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February 12, 2026
- Buyer
- Zeitview
- Target
- Insight M
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Zeitview, an AI-driven asset intelligence company, has acquired Insight M, a methane detection and analytics firm, marking Zeitview's formal entry into the oil and gas sector. The deal combines Insight M's aircraft-based methane detection and basin-scale analytics with Zeitview's global visual-inspection platform to expand capabilities for emissions mitigation and asset intelligence across energy infrastructure.
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February 12, 2026
- Buyer
- Gold Candle Ltd.
- Target
- Fokus Mining Corporation
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Buyout
Gold Candle Ltd. has entered into a definitive arrangement agreement to acquire all issued and outstanding shares of Fokus Mining Corporation for CAD 0.26 per share in an all-cash transaction valued at approximately CAD 65 million. The deal is intended to expand Gold Candle’s Abitibi, Quebec gold portfolio by adding ~1.4 million ounces of inferred gold resources and more than 20,000 hectares of land.
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February 12, 2026
- Buyer
- Enduring Wealth Capital Limited, Fortune Peak Limited, Armada Network Limited
- Target
- Cango Inc.
- Industry
- Energy
- Location
- Hong Kong
- Type
- Growth capital
Cango Inc. closed a previously announced US$10.5 million equity investment from Enduring Wealth Capital Limited and entered into definitive agreements for approximately US$65 million of additional Class A equity investments from entities wholly owned by Chairman Xin Jin and director Chang-Wei Chiu. The proceeds will be used to support Cango's expansion into AI and computing infrastructure and to strengthen its balance sheet.
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- Buyer
- LG Energy Solution
- Target
- NextStar Energy
- Seller
- Stellantis
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Buyout
LG Energy Solution will acquire full ownership of NextStar Energy, buying out Stellantis’ 49% equity stake. The deal follows LG Energy Solution and Stellantis’ jointly agreed plan to restructure the 2022 battery joint venture in Windsor, Ontario to better target the Energy Storage System (ESS) market.
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February 9, 2026
- Buyer
- Transocean
- Target
- Valaris
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Transocean and Valaris have signed a definitive agreement to combine in an all-stock transaction valued at approximately $5.8 billion, with Transocean acquiring Valaris. The deal is structured as a court-approved scheme of arrangement under Bermuda law and is expected to close in the second half of 2026, subject to regulatory and shareholder approvals.
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February 3, 2026
- Buyer
- Ovintiv Inc., Ovintiv Canada ULC
- Target
- NuVista Energy Ltd.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
Ovintiv completed its acquisition of all common shares of NuVista Energy Ltd. in a cash-and-stock transaction valued at about $2.7 billion. The deal adds roughly 140,000 net acres and about 930 net 10,000-foot equivalent well locations in the oil-rich Alberta Montney, with expected 2026 production averaging about 100 MBOE/d.
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February 3, 2026
- Buyer
- SunPower Inc.
- Target
- Cobalt Power Systems
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
SunPower has closed its $12 million all-equity strategic acquisition of Cobalt Power Systems. Cobalt will remain a standalone subsidiary while continuing to execute premium renewable energy solar projects for residential, new home, multifamily, and commercial customers, including in key California markets.
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February 2, 2026
- Buyer
- Reges Elektrik
- Target
- Tuşpa Enerji Üretim A.Ş.
- Seller
- RES Türkiye, RES Group
- Industry
- Energy
- Location
- Kırşehir, Turkey
- Type
- Buyout
Reges Elektrik has acquired Tuşpa Enerji Üretim A.Ş. and its 70 MW Demirli Wind Power Project in Kaman, Kırşehir from RES Türkiye (a subsidiary of RES Group). The project will deploy 10 ENERCON E-175 EP5 E2 turbines — the first deployment of this model in Turkey — marking Reges Elektrik's strategic expansion from energy supply into power generation and renewable asset ownership.
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- Buyer
- BKV Corporation
- Target
- BKV-BPP Power, LLC
- Seller
- Banpu Power US Corporation (BPPUS)
- Industry
- Energy
- Location
- Colorado, United States
- Type
- Buyout
BKV Corporation entered into a definitive purchase agreement to acquire from Banpu Power US Corporation (BPPUS) one-half of BPPUS’ interest in the BKV-BPP Power joint venture, increasing BKV’s ownership to 75% and granting majority control. The deal provides for cash and BKV common stock consideration and is expected to enable BKV to consolidate the Power JV’s financial results for a streamlined power operating and growth platform.
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January 30, 2026
- Buyer
- Boyne Capital, New 2nd Capital
- Target
- Pilot Energy
- Industry
- Energy
- Location
- California, United States
- Type
- Addon
Boyne Capital closed a single-asset secondary transaction forming a continuation fund to extend its partnership with Pilot Energy. The fund is managed and controlled by Boyne, anchored by New 2nd Capital as lead investor, and includes new capital to support Pilot’s acquisition strategy and organic growth initiatives.
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January 29, 2026
- Buyer
- Electric Power Engineers
- Target
- Estudios Eléctricos
- Industry
- Energy
- Location
- Argentina
- Type
- Buyout
Electric Power Engineers (EPE), a global advisory and engineering firm headquartered in Austin, Texas, has acquired Estudios Eléctricos, a South American power systems engineering firm founded in Argentina with teams in Argentina, Chile and Colombia. The acquisition expands EPE's grid-planning and software-enabled capabilities across Latin America and advances the firm's regional presence and service offerings to utilities, developers, data centers and public-sector clients.
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- Buyer
- RESA Power, Kohlberg
- Target
- Société Générale d'Électrotechnique (SGE)
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Addon
RESA Power, a portfolio company of Kohlberg, has acquired Québec City-based Société Générale d'Électrotechnique (SGE), adding in-house engineering and Canadian manufacturing of medium- and high-voltage power transformers. The deal expands RESA Power's footprint into Quebec and broadens its electrical construction, testing, and transformer capabilities as part of a strategy to build regional hubs across Canada.
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January 29, 2026
- Buyer
- The Carlyle Group
- Target
- LUKOIL International GmbH
- Seller
- LUKOIL
- Industry
- Energy
- Location
- Austria
- Type
- Divestiture
LUKOIL announced it has signed an agreement with Carlyle to sell LUKOIL International GmbH, a wholly owned subsidiary holding the LUKOIL Group’s international assets. The transaction is framed as a response to constraints imposed by certain countries, and it explicitly excludes the group’s Kazakhstan assets, which will remain owned by LUKOIL under existing licenses.
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January 29, 2026
- Buyer
- TPI Efficiency, ScaleCo Capital
- Target
- Community Energy Advisors, Viridi
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Addon
ScaleCo Capital’s portfolio company TPI Efficiency acquired both Community Energy Advisors and Viridi in two related add-on acquisitions. The deals expand TPI’s energy procurement and efficiency management platform with customized advisory and energy procurement capabilities for mid-sized commercial clients.
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January 27, 2026
- Buyer
- Altius Minerals Corporation
- Target
- Lithium Royalty Corp.
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Buyout
Altius Minerals Corporation entered into a definitive plan-of-arrangement agreement to acquire all outstanding shares of Lithium Royalty Corp. for total consideration of approximately C$520 million (C$9.50 per LRC share), payable at shareholders’ election as cash, Altius shares, or a mix subject to proration. The transaction is court- and shareholder-approval subject and is currently expected to close around March 2026.
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January 26, 2026
- Buyer
- Fresnillo plc
- Target
- Probe Gold Inc.
- Seller
- Probe Gold shareholders (including certain directors/officers and other selling shareholders such as Eldorado Gold Corporation)
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Buyout
Fresnillo plc completed an all-cash acquisition of Probe Gold Inc. for approximately C$780 million (C$3.65 per share), closing on 22 January 2026. The deal gives Fresnillo ownership of Probe’s Novador project in the Val d'Or district (Quebec), expanding Fresnillo’s geographic footprint and gold resource base in Canada.
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January 26, 2026
- Buyer
- XCF Global, Inc., DevvStream Corp., Southern Energy Renewables Inc.
- Target
- XCF Global, Inc., DevvStream Corp., Southern Energy Renewables Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
XCF Global, DevvStream, and Southern Energy Renewables agreed to a binding term sheet for a proposed three-party merger to create an integrated low-carbon fuels and environmental-attribute platform. The combination is intended to accelerate sustainable aviation fuel (SAF) production through multiple pathways (including HEFA and e-methanol) while integrating environmental-attribute monetization into a unified offering.
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January 26, 2026
- Buyer
- Guardian Propane Partners, Tecum Capital, Inyarek Partners
- Target
- F.A. Days & Sons
- Industry
- Energy
- Location
- United States
- Type
- Addon
Tecum Capital and Inyarek Partners launched operator-led propane platform Guardian Propane Partners, backed by equity and debt capital. As part of the platform’s launch, Guardian Propane acquired F.A. Days & Sons, a long-running propane and heating oil provider on the Outer Cape of Massachusetts.
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January 23, 2026
- Buyer
- CMOC Group Limited
- Target
- Equinox Gold Corp. Brazil Operations (Aurizona Mine, RDM Mine and Bahia Complex)
- Seller
- Equinox Gold Corp.
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Divestiture
Equinox Gold has completed the previously announced sale of its Aurizona Mine, RDM Mine and Bahia Complex in Brazil (the “Brazil Operations”) to a subsidiary of the CMOC Group for total consideration of up to US$1.015 billion. Equinox Gold received US$900 million in cash and will receive a production-linked contingent payment of up to US$115 million on January 23, 2027, using proceeds to repay debt and reduce net debt to about US$150 million.
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- Buyer
- Spring Valley III, Institutional investors
- Target
- General Fusion
- Industry
- Energy
- Type
- Growth capital
Fusion startup General Fusion plans to go public through a reverse merger with special purpose acquisition company Spring Valley III, along with additional investment from institutional investors. If the deal closes as planned, the transaction could provide General Fusion up to $335 million and value the combined company at about $1 billion.
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- Buyer
- American Lithium Minerals, Inc.
- Target
- Cunningham Mining Ltd
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Growth capital
American Lithium Minerals, Inc. acquired a 19% interest in Cunningham Mining Ltd, which owns the Nugget Trap placer claims (573.7 acres) in the Golden Triangle region of British Columbia and is permitted for a 30,000 cubic yard per annum pay mining program. The transaction expands AMLM's portfolio of precious- and critical-metals projects and the company appointed Ryan Cunningham as President and CEO of its wholly owned subsidiary American Mineral Resources, Inc.
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January 15, 2026
- Buyer
- SkyFire Energy Inc.
- Target
- Hakai Energy Solutions Inc.
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Buyout
SkyFire Energy Inc. has acquired Hakai Energy Solutions, a British Columbia–based renewable energy firm specializing in grid-tied and remote off-grid solar and microgrid systems. The acquisition expands SkyFire's presence across Vancouver Island, coastal British Columbia and remote communities and strengthens its capabilities in solar, microgrid and battery energy storage systems, creating a combined team of roughly 200 employees.
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January 15, 2026
- Buyer
- Energy Management Collaborative (EMC)
- Target
- Earth Savers (Earth Savers Energy Services, Inc.)
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Energy Management Collaborative (EMC) has acquired Earth Savers, an LED and smart lighting solutions provider with deep experience in healthcare facilities, to broaden EMC’s healthcare offering and service capabilities across North America. The deal pairs EMC’s national footprint and broader energy-efficiency services with Earth Savers’ specialized healthcare expertise to accelerate growth in healthcare accounts and expand service capacity.
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January 15, 2026
- Buyer
- African Discovery Group
- Target
- SOCIETE GRABIN MINING SAS
- Industry
- Energy
- Location
- New York, United States
- Type
- Buyout
African Discovery Group (AFDG) announced that shareholders approved its pending merger to acquire 100% of SOCIETE GRABIN MINING SAS (GRABIN) through a stock-based transaction. The combined company, branded as “Copper Intelligence,” is expected to become the first stand-alone Democratic Republic of Congo (DRC) copper exploration company publicly traded in the United States, pending closing.
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January 14, 2026
SLB has completed the acquisition of RESMAN Energy Technology, a Norway-headquartered provider of wireless reservoir surveillance and tracer solutions. The deal integrates RESMAN's tracer technology into SLB's production and recovery portfolio to deliver faster, more precise reservoir insights and improved operational efficiency for operators.
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January 13, 2026
- Buyer
- USA Compression Partners LP
- Target
- J-W Power Company
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
USA Compression Partners LP (USAC) has completed its approximately $860 million acquisition of J-W Power Company. The deal expands USAC’s natural gas compression fleet by more than 0.8 million active horsepower across key U.S. regions, bringing total active horsepower to around 4.4 million and strengthening its customer base and mid-to-large horsepower capabilities.
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January 9, 2026
- Buyer
- NextEra Energy Resources, NextEra Energy, Inc.
- Target
- Symmetry Energy Solutions
- Seller
- Energy Capital Partners (ECP)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
NextEra Energy Resources (a unit of NextEra Energy, Inc.) has acquired Symmetry Energy Solutions from private equity firm Energy Capital Partners (ECP). The acquisition expands NextEra's natural gas supply, logistics and asset-management capabilities; Symmetry is a Houston-based retail natural gas supplier serving thousands of commercial and industrial customers.
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January 8, 2026
- Buyer
- GEOLOG International B.V.
- Target
- Quad Ltd, QO Inc.
- Industry
- Energy
- Location
- United Kingdom
- Type
- Addon
GEOLOG International B.V. acquired Quad Ltd and QO Inc., integrating Quad’s wellsite geology, pore pressure and fracture gradient analysis capabilities into GEOLOG’s global wellsite geosciences and drilling support services. The bolt-on deal strengthens GEOLOG’s technical capabilities and global service delivery across complex drilling environments; terms were not disclosed.
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- Buyer
- Constellation Energy Corporation, Constellation Energy (operating entity references in coverage)
- Target
- Calpine Corporation
- Seller
- Energy Capital Partners (ECP)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Constellation Energy completed its acquisition of Calpine Corporation from Energy Capital Partners (ECP) in a transaction valued at $26.6 billion, creating the largest U.S. electricity producer. The combined company pairs Constellation’s nuclear generation with Calpine’s natural gas and geothermal assets to serve 2.5 million retail and business customers nationwide.
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January 6, 2026
- Buyer
- RESA Power, LLC
- Target
- 3MD Power Services LLC
- Industry
- Energy
- Location
- Virginia, United States
- Type
- Addon
RESA Power, a Kohlberg-backed provider of power systems services, has acquired 3MD Power Services LLC, a Roanoke, Virginia-based specialist in high-voltage transformer testing, repair, maintenance and installation. The add-on expands RESA Power's transformer solutions capabilities, increases its oil/dielectric fluid processing rig fleet and establishes a local operating presence in the South Atlantic states.
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Frequently Asked Questions
What kinds of buyers are appearing in recent energy deals?
Both private equity firms and strategic energy companies are active. Examples from recent transactions include PE and investor names such as Trive Capital, TA Associates, Boyne Capital, and strategic operators like BKV Corporation and Reges Elektrik.
Which capabilities are acquirers most commonly adding?
Buyers are broadening operational and technical capabilities: grid‑scale and data‑center power development, fuel and propane distribution buy‑and‑build, high‑voltage construction and substation automation, methane detection and emissions analytics, and specialized nuclear engineering services.
Where are most of the transactions located?
Activity is concentrated in the United States—notably Texas and Illinois—with additional transactions in Norway, British Columbia (Canada), Turkey, California, Kentucky, and Hong Kong.
What transaction structures are represented?
Recent examples include control investments, strategic minority equity placements, single‑asset continuation funds to extend platform ownership, acquisitions to obtain majority JV stakes, and tuck‑ins to expand service footprints.