Top Energy Acquirers (2009-2026)

Tracked deals

1251

1251 tracked deals across 2009-2026.

Buyer mix

Mixed buyer set

1015 strategic · 555 pe

Top trend

Volume peaked in 2026

255 tracked deals announced in 2026.

Primary Insight

What Stands Out

  • Williams closed its acquisition of Momentum Midstream, expanding natural gas infrastructure in the Haynesville Basin (over 4,000 miles of pipe and 6 Bcf/d of gathering capacity).
  • Power-focused transactions include CVC DIF completing the acquisition of the 272 MW Gabriela solar and 1,100 MWh battery storage project in northern Chile, and ePointZero acquiring a 90% stake in Azura Power Holdings (752 MW across Nigeria, Senegal, and Mozambique).
  • Upstream and gas strategy deals include SOCAR entering a strategic partnership to acquire interests in Comstock Resources’ Haynesville assets and a portion of ownership in Pinnacle Gas Services (Texas).
  • Infrastructure and grid-edge assets are also represented, including DigitalBridge’s agreement to acquire PLUS ES, which manages ~2 million meters in Australia’s National Electricity Market.
  • The list spans multiple deal structures—from majority stake purchases (e.g., Grupo México + GIP/BlackRock in Mexico) to take- or-pay pipeline expansion and structured solar-plus-storage portfolio exits.

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Buyer Snapshot

Top Buyers

Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.

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Buyer # Deals Focus Type
Ara Partners 8 Private equity firm specializing in industrial decarboniz... PE
BP Energy Partners, LLC 7 Dallas-based growth-oriented private equity firm focused ... PE
Qualus Corporation 7 Pure-play power services firm offering advisory, planning... Strategic (PE-backed)
RESA Power, LLC 7 Market leader in power systems electrical testing, transf... Strategic (PE-backed)
424 Capital 6 Private equity firm making control equity investments in ... PE
Bernhard Capital Partners 6 Infrastructure- and services-focused private equity firm ... PE
Global Infrastructure Partners (GIP) 6 Infrastructure investor (part of BlackRock) focused on ow... PE
KKR 6 Global investment firm making private equity and other al... PE
Superior Plus Corp. 6 Leading North American distributor and marketer of propan... Strategic
TotalEnergies 6 Global integrated energy company producing and marketing ... Strategic

Acquisition Volume in Energy by Year

Last 10 years

Acquisition volume by year Annual acquisition counts for the last 10 years for Top Energy Acquirers (2009-2026). 1 2017 5 2018 57 2019 66 2020 159 2021 178 2022 114 2023 199 2024 209 2025 ~322 est. 255 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Monomoy Capital Partners
    Target
    Creedence Energy Services, LLC
    Seller
    Tower Arch Capital
    Industry
    Energy
    Location
    United States
    Type
    Buyout

    Monomoy Capital Partners acquired Creedence Energy Services from Tower Arch Capital, concluding Tower Arch’s 2019 partnership. Creedence is a nationwide production and midstream chemicals services provider serving operators across major U.S. oil and gas basins. Financial terms were not disclosed.

  • Buyer
    Stark Power
    Target
    Cottage Grove energy campus
    Seller
    Ultra Capital, Panamint Capital
    Industry
    Energy
    Type
    Buyout

    Stark Power entered into a definitive agreement to acquire the Cottage Grove energy campus near Cottage Grove, Minnesota, from Ultra Capital and Panamint Capital. The campus includes a 262 MW natural gas-fired combined-cycle power plant and a planned 80 MW / 320 MWh battery energy storage project, with contracted revenues tied to Northern States Power (Xcel Energy).

  • Buyer
    GenServe
    Target
    D Square Energy
    Seller
    Todd Plant (Owner of D Square Energy)
    Industry
    Energy
    Location
    United States
    Type
    Buyout

    GenServe completed its acquisition of Seattle-based D Square Energy, establishing GenServe’s first operating presence in the Pacific Northwest. The deal adds experienced technicians and established regional customer relationships to GenServe’s national backup-power service network.

  • Buyer
    GenServe
    Target
    1st Class Generator Services
    Industry
    Energy
    Location
    United States
    Type
    Buyout

    GenServe completed the acquisition of Houston-based 1st Class Generator Services to add technician capacity and local service capabilities in the Texas market. The transaction supports GenServe’s continued build-out of a national backup-power platform with retained local relationships.

  • Buyer
    GenServe
    Target
    Static Power
    Seller
    Charles Vitale (President of Static Power)
    Industry
    Energy
    Type
    Buyout

    GenServe completed the acquisition of New Jersey-based Static Power to expand its East Coast uninterruptible power supply (UPS) capabilities. The added team and engineering expertise are intended to support broader end-to-end emergency power offerings for customers.

  • Buyer
    GenServe
    Target
    Alternative Power Solutions
    Industry
    Energy
    Location
    United States
    Type
    Buyout

    GenServe acquired Orlando-based Alternative Power Solutions to deepen technician capacity and local market expertise in Florida. The acquisition is part of GenServe’s strategy of building a broader national backup-power platform while maintaining local customer relationships.

  • Buyer
    Solidion Technology, Inc.
    Target
    Flux Power Holding, Inc.
    Industry
    Energy
    Type
    Buyout

    Solidion Technology responded to Flux Power Holding’s board decision to reject Solidion’s previously announced acquisition proposal, stating it views its bid as “best and final.” Solidion argues Flux faces capital needs and other risks, and believes acquisition by a stronger balance-sheet company is the clearer path versus a highly dilutive turnaround.

  • Buyer
    HydroEdge Solutions, LLC, WET Tech, LLC
    Target
    Reserved Environmental Services, LLC, RES Water affiliated operating companies
    Industry
    Energy
    Type
    Buyout

    HydroEdge Solutions, through newly formed parent company WET Tech, acquired Reserved Environmental Services, LLC and its affiliated operating companies (RES Water). The combination creates a full-cycle water management platform spanning pipeline and on-pad water management, hauling, treatment, recycling, and storage across the Marcellus and Utica shales in Pennsylvania, Ohio, and West Virginia.

  • Buyer
    Verdera Energy Corp.
    Target
    Verdera Energy Corp.
    Seller
    enCore Energy Corp.
    Industry
    Energy

    Verdera Energy Corp. completed a previously announced distribution of Verdera shares to enCore Energy Corp. shareholders of record on September 25, 2026, with distribution completion on September 30, 2026. The distribution resulted in enCore shareholders receiving a direct interest in Verdera and its portfolio of in-situ recovery (ISR) uranium assets in New Mexico.

  • Buyer
    Energy Vault Holdings, Inc.
    Target
    Goshe Energy Storage, LLC, Goshe Energy Storage, LLC portfolio of U.S. BESS development projects (15 projects, 2.3+ GW)
    Seller
    Goshe Energy Storage, LLC
    Industry
    Energy
    Type
    Buyout

    Energy Vault Holdings, Inc. announced the acquisition of a portfolio of U.S. battery energy storage system (BESS) development projects from Goshe Energy Storage, LLC. The deal adds more than 2.3 GW across 15 projects to Energy Vault’s Asset Vault build, own and operate platform, including 350 MW of ready-to-build projects expected to reach commercial operations in Q1 2028.

  • Buyer
    ESENTIA Energy Development, S.A.B. de C.V., certain subsidiaries of ESENTIA
    Target
    Energía Occidente de México, S. de R.L. de C.V.
    Seller
    TC Energía Mexicana, S. de R.L. de C.V., TCPL CentrOriente Ltd.
    Industry
    Energy
    Location
    Mexico
    Type
    Buyout

    ESENTIA Energy Development has entered into an agreement to acquire 100% of the equity interests of Energía Occidente de México (EOM) for a gross purchase price of US$400 million. EOM owns and operates the approximately 313-km Guadalajara–Manzanillo natural gas pipeline system, which would connect ESENTIA’s existing network to the Port of Manzanillo.

  • Buyer
    Artemis Gold
    Target
    Vista Gold
    Industry
    Energy
    Location
    Northern Territory, Australia
    Type
    Buyout

    Artemis Gold has agreed to acquire Vista Gold in an all-stock transaction valued at approximately $427 million. The deal adds Vista’s Mt Todd gold project in Australia’s Northern Territory, creating a pathway toward more than one million ounces of annual gold production when combined with Artemis’s Blackwater operations.

  • Buyer
    DISA Uranium Corporation
    Target
    Premier American Uranium Inc. (Colorado Portfolio of uranium projects and associated assets)
    Seller
    Premier American Uranium Inc.
    Industry
    Energy
    Type
    Buyout

    DISA Uranium entered into an asset purchase agreement with Premier American Uranium (PUR) to acquire PUR’s Colorado Portfolio of uranium exploration and past-producing assets in the Uravan Mineral Belt, Colorado. In connection with the deal, DISA Uranium also plans a US$5,000,000 strategic equity investment in PUR via subscription receipts and will receive board representation upon closing.

  • Buyer
    CLEAResult Québec, CLEAResult Canada
    Target
    Groupe Marketing International, Inc. (GMI)
    Seller
    Micheline Durocher (Founder and President of GMI)
    Industry
    Energy
    Location
    Quebec, Canada
    Type
    Addon

    CLEAResult Québec, a subsidiary of CLEAResult Canada, announced the acquisition of Groupe Marketing International, Inc. (GMI), a Laval, Québec-based customer care and operations partner for energy efficiency programs. The deal formalizes a collaboration launched in 2025 and strengthens CLEAResult’s presence in Québec by combining GMI’s established client relationships and operational capabilities with CLEAResult Canada’s energy efficiency program delivery expertise.

  • Buyer
    Xpansiv
    Target
    Formbay
    Industry
    Energy
    Location
    Australia
    Type
    Buyout

    Xpansiv signed a definitive agreement to acquire Formbay, an Australian AI-enabled platform for the creation, validation, and trading of renewable energy certificates. The deal is intended to unite Xpansiv’s global renewable certificate infrastructure with Formbay’s verification and compliance technology to accelerate scale and efficiency across energy and environmental markets.

  • Buyer
    Constellation Energy Generation, LLC
    Target
    RISEC Holdings, LLC (RISEC), Rhode Island State Energy Center
    Seller
    Shell Energy North America
    Industry
    Energy

    Constellation entered into an agreement to acquire 100% of RISEC Holdings, LLC, the owner of the Rhode Island State Energy Center, from Shell Energy North America for $715 million. The 609 MW combined-cycle natural gas facility is located in Johnston, Rhode Island and is expected to join Constellation’s merchant generation portfolio within ISO New England.

  • Buyer
    Enaex Africa
    Target
    Sasol Nitrates business (ammonia conversion plants in Secunda and Sasolburg)
    Seller
    Sasol
    Industry
    Energy
    Location
    South Africa

    Sasol entered into an agreement to sell its Nitrates business to Enaex Africa, as part of its portfolio optimization strategy. The transaction includes the primary ammonia conversion plants in Secunda and Sasolburg, and Sasol will retain a 23% interest in the resulting joint venture.

  • Buyer
    Shell Energy North America (US), L.P. (SENA), Constellation Energy Generation, LLC
    Target
    Hunlock Creek Generating LLC (Hunlock), RISEC Holdings, LLC (RISEC)
    Seller
    Shell Energy North America (SENA)
    Industry
    Energy

    Shell Energy North America (SENA) signed two related transactions as part of US power portfolio management: it agreed to acquire 100% of Hunlock Creek Generating LLC (Hunlock) and it agreed to sell its interests in RISEC Holdings, LLC to Constellation Energy Generation, LLC for $715 million. The transactions are subject to regulatory approvals and expected to close in the first quarter of 2027.

  • Buyer
    Grupo México, S.A.B. de C.V., Global Infrastructure Partners (GIP)
    Target
    Saavi Energía S.à r.l.
    Industry
    Energy
    Location
    Mexico
    Type
    Buyout

    Saavi Energía announced the successful closing of its previously announced merger transaction with Grupo México. The combination creates a diversified Mexico power platform with 10 power plants plus mobile power generation and three gas compression stations, totaling 4.5 GW. After closing, Grupo México holds a 70% stake and Global Infrastructure Partners (a BlackRock subsidiary) holds the remaining 30%.

  • Buyer
    Tributary Exploration Inc.
    Target
    Tributary Exploration (newly formed exploration and development company)
    Industry
    Energy
    Location
    Alberta, Canada

    As part of the Tamarack–Headwater transaction, certain non-core exploration and production assets will be transferred into a newly formed exploration company, Tributary Exploration Inc. The new entity is expected to pursue growth-oriented oil-focused opportunities in western Canada and to seek public listing after closing.

  • Buyer
    Tamarack Valley Energy Ltd.
    Target
    Headwater Exploration Inc.
    Industry
    Energy
    Location
    Alberta, Canada
    Type
    Buyout

    Tamarack Valley Energy and Headwater Exploration entered into a definitive arrangement agreement for an all-stock merger valued at $10 billion. Under the terms, Headwater shareholders will receive 1.0 Tamarack share for each Headwater share, creating a combined Clearwater-focused producer.

  • Buyer
    CVC DIF
    Target
    Gabriela solar and battery energy storage project (272 MW solar, 1,100 MWh storage)
    Seller
    Grenergy
    Industry
    Energy
    Location
    Northern Chile, Chile
    Type
    Buyout

    CVC DIF completed its acquisition of the Gabriela utility-scale solar photovoltaic and battery energy storage project in northern Chile from Grenergy. The transaction was structured to close once the project achieved commercial operation, which has now been reached.

  • Buyer
    SOCAR
    Target
    Comstock Resources’ Legacy Haynesville upstream assets, Comstock Resources’ Western Haynesville upstream assets, Pinnacle Gas Services
    Seller
    Comstock Resources
    Industry
    Energy

    Comstock Resources announced a proposed $1.65 billion strategic partnership with SOCAR under which SOCAR will acquire interests in Comstock’s Legacy Haynesville and Western Haynesville upstream assets and a portion of Comstock’s ownership interest in Pinnacle Gas Services. The parties are targeting a definitive purchase agreement by October 31, with closing planned by the end of 2026, subject to customary conditions and approvals.

  • Buyer
    Williams
    Target
    Momentum Midstream
    Industry
    Energy
    Type
    Buyout

    Williams (NYSE: WMB) has closed its approximately $5.5 billion acquisition of Momentum Midstream. The deal expands Williams’ integrated natural gas infrastructure in the Haynesville Basin, adding over 4,000 miles of pipe, 6 Bcf/d of gathering capacity, processing facilities, and three take-or-pay transportation pipelines.

  • Buyer
    Diversified Energy, Carlyle (financing/strategic partnership)
    Target
    Birch Permian Holdings and certain affiliated companies, Birch
    Seller
    Affiliates of Elliott Investment Management
    Industry
    Energy
    Type
    Buyout

    Diversified Energy has agreed to acquire Birch Permian Holdings (and certain affiliated companies) for approximately $1.8 billion, expanding its Permian Basin operated position. The company expects the deal to increase production by ~35% and adjusted EBITDA by ~55%, with closing expected in Q4 2026 subject to regulatory approvals and customary conditions.

  • Buyer
    Plutonian Acquisition Corp. II
    Target
    NT1 Pty Ltd
    Industry
    Energy
    Location
    Australia
    Type
    Buyout

    Australian mineral exploration company NT1 Pty Ltd entered into a definitive Agreement and Plan of Merger / Business Combination Agreement with Plutonian Acquisition Corp. II (Plutonian II). The transaction is expected to close in 2027 and will result in a combined company listed on the New York Stock Exchange, with NT1 valued at an estimated $500 million enterprise value.

  • Buyer
    ePointZero
    Target
    Azura Power Holdings Limited
    Seller
    Actis, Africa50
    Industry
    Energy
    Location
    United Arab Emirates
    Type
    Buyout

    ePointZero has agreed to acquire a 90% stake in Azura Power Holdings Limited, a pan-African independent power producer with 752 MW of operating capacity across Nigeria, Senegal, and Mozambique. The deal is structured through an acquisition vehicle jointly established by ePointZero and Amaya Capital, with Actis and Africa50 selling their stakes and Amaya Capital retaining a 10% minority interest.

  • Buyer
    ONEOK, Inc., Funds and affiliates managed by Apollo
    Target
    Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets
    Seller
    Brazos Midstream
    Industry
    Energy
    Type
    Buyout

    ONEOK, Inc. has executed a definitive agreement to acquire Brazos Midstream’s Permian Midland Basin natural gas gathering and processing assets for $4.425 billion in cash. The deal will be supported by a concurrent $9 billion nonvoting minority equity investment from Apollo, with ONEOK also planning to use proceeds to reduce $5 billion of existing indebtedness.

  • Buyer
    Bunker Hill Mining
    Target
    Silver47 Exploration
    Industry
    Energy
    Type
    Buyout

    Bunker Hill Mining has agreed to acquire Silver47 Exploration in an all-stock transaction valuing Silver47 at approximately $163 million (fully diluted, in-the-money), creating a larger U.S.-focused silver and critical minerals platform. The combined company will be renamed Bunker Hill Silver Corp., with Bunker Hill shareholders expected to own about 57% and Silver47 shareholders about 43%.

  • Target
    Red Willow Solar Inc.
    Seller
    Westbridge Renewable Energy S.A.
    Industry
    Energy
    Location
    Alberta, Canada

    Westbridge Renewable Energy S.A. has entered into a definitive share purchase agreement to sell its wholly-owned subsidiary, Red Willow Solar Inc., which holds the Red Willow utility-scale solar-plus-storage project in Alberta. The transaction will provide Westbridge with upfront cash at closing plus milestone payments, with total receivables targeted at CAD $26.725 million if conditions are met.

  • Buyer
    Mogul Mountain Ventures Corporation, 1578367 B.C. Ltd., Mogul Mountain Ventures Corporation (Mogul Privco), Panorama Capital Corp.
    Target
    Mogul Mountain Ventures Corporation (Mogul Privco), 1578367 B.C. Ltd., Panorama Capital Corp.
    Industry
    Energy
    Type
    Buyout

    Mogul Mountain Ventures Corporation completed a previously announced qualifying business combination/amalgamation with Panorama Capital Corp and Mogul Mountain Ventures Corporation (private), resulting in a new Nevada-focused gold-silver exploration public company (Mogul Mountain Holdings Corp.). Concurrent non-brokered private placements raised gross proceeds of about C$7 million to fund exploration and drilling, and trading on the TSX Venture Exchange was expected to begin under ticker “MOGL” on September 1, 2026.

  • Buyer
    DigitalBridge
    Target
    PLUS ES
    Industry
    Energy
    Location
    Australia
    Type
    Buyout

    DigitalBridge, through a managed investment vehicle, has entered into an agreement to acquire PLUS ES, one of Australia’s largest smart meter providers. PLUS ES operates ring-fenced infrastructure and data services that connect energy retailers, utilities, and network operators, managing approximately 2 million meters across Australia’s National Electricity Market. The transaction is subject to customary closing conditions, including regulatory approvals.

  • Buyer
    Sapphire Gas Solutions
    Target
    EDGE LNG
    Seller
    affiliates of Blue Water Energy
    Industry
    Energy
    Type
    Buyout

    Sapphire Gas Solutions has acquired EDGE LNG, a Texas-based LNG company that provides liquefaction, delivery, and vaporization services using modular and mobile LNG equipment. The deal adds approximately 200,000 gallons per day of LNG liquefaction capacity and strengthens Sapphire’s vertically integrated LNG supply model from production through delivery.

  • Buyer
    Matador Gas LLC, Firmament
    Target
    Action Propane, Inc., Ozark Mountain Propane Company
    Seller
    Murray and Wanda Hoggarth (founders of Action Propane; legacy referenced), Jennifer Stowe (daughter of Ozark Mountain founder; involved in decision to sell)
    Industry
    Energy
    Location
    United States
    Type
    Addon

    Matador Gas LLC, backed by Firmament, has completed the acquisitions of Action Propane, Inc. (based in Leander, Texas) and Ozark Mountain Propane Company (headquartered in Garfield, Arkansas). The deals expand Matador’s footprint across Texas and Arkansas and increase density in its existing service areas by adding long-established local propane operators.

  • Buyer
    Tintina Mines Limited, GMC SPV Equity 01 Inc. (Anchor Investor; Sumitomo Corporation and the Gignac family)
    Target
    Andean Belt Resources SpA, Dos Amigos Copper-Gold Project (formerly Domeyko Sulfuros Project)
    Seller
    26.25% minority interest holders in Andean Belt Resources SpA (not named)
    Industry
    Energy
    Location
    Chile
    Type
    Buyout

    Tintina Mines completed the previously announced acquisition and financing transactions that consolidate its ownership to 100% of Andean Belt Resources SpA (ABR) and, indirectly, the Dos Amigos copper-gold project in Chile. The company also completed its C$91 million private placement financing, with proceeds used in part to fund the remaining 26.25% minority interest acquisition.

  • Buyer
    Barrick Gold Inc.
    Target
    GFG Resources Inc.'s Pen Gold Project
    Seller
    GFG Resources Inc.
    Industry
    Energy
    Location
    Ontario, Canada

    GFG Resources signed a definitive earn-in agreement with Barrick Gold to advance exploration at the 100%-owned Pen Gold Project in Ontario. Barrick may earn an initial 60% interest by funding $17.68 million in exploration expenditures and making $1.2 million of cash payments to GFG, and can potentially increase its interest to 70% and 80% by completing a preliminary economic assessment and feasibility study.

  • Buyer
    E Source
    Target
    Aneden Consulting
    Industry
    Energy
    Type
    Buyout

    E Source acquired Aneden Consulting, an interconnection and compliance engineering firm, to deepen E Source’s grid modernization, engineering, and interconnection capabilities. The acquisition expands E Source’s technical depth and helps utilities, developers, and hyperscalers navigate increasingly complex and longer interconnection processes.

  • Buyer
    Myriad Uranium Corp.
    Target
    Rush Rare Metals Corp.
    Industry
    Energy
    Location
    British Columbia, Canada
    Type
    Buyout

    Myriad Uranium Corp. completed its acquisition of 100% of Rush Rare Metals Corp. via a statutory plan of arrangement. Following completion, Rush became a wholly owned subsidiary of Myriad and Rush shares were delisted.

  • Buyer
    Rice Investment Group, Canada Growth Fund Inc. (CGF)
    Target
    EnerPure Inc.
    Industry
    Energy
    Location
    Alberta, Canada

    EnerPure closed a US$35 million all-equity commercialization financing led by Rice Investment Group, with Canada Growth Fund (CGF) participating as a co-investor. The capital will fund EnerPure’s first commercial UMO recycling plant in Alberta (Alberta Commercial Plant), support related engineering and working capital needs, and advance its broader North American deployment pipeline.

  • Buyer
    Not disclosed
    Target
    Ecogas México, S. de R.L. de C.V.
    Seller
    Sempra
    Industry
    Energy
    Location
    Mexico

    Sempra completed the sale of Ecogas México, a natural gas distribution network in Mexico serving more than 600,000 customers across the Mexicali, Chihuahua and La Laguna-Durango regions, for approximately $500 million in proceeds. The divestiture supports Sempra’s capital recycling strategy and its roughly $65 billion five-year capital plan focused primarily on regulated utility infrastructure in Texas and California.

  • Buyer
    DISA Uranium Corporation, Tembo Capital, BHP Ventures, Galvanize Climate Solutions, Valor Equity Partners, Evok Innovations, Halliburton Labs, Veriten
    Target
    IsoEnergy Ltd. Utah Portfolio (Tony M Mine, Daneros Mine, Rim Mine, Sage Plain Project, Flatiron Project)
    Seller
    IsoEnergy Ltd.
    Industry
    Energy
    Type
    Buyout

    IsoEnergy and DISA Technologies completed the previously announced definitive transaction to form DISA Uranium Corporation. As part of closing, IsoEnergy contributed its Utah Portfolio of permitted, past-producing uranium mines (Tony M Mine, Daneros Mine, Rim Mine, Sage Plain Project, and Flatiron Project), and DISA Uranium simultaneously closed a previously announced $105 million private placement financing.

  • Buyer
    Myriad Uranium Corp.
    Target
    Rush Rare Metals Corp.
    Industry
    Energy
    Location
    British Columbia, Canada
    Type
    Buyout

    Myriad Uranium Corp. received final court approval from the Supreme Court of British Columbia for a statutory plan of arrangement with Rush Rare Metals Corp. Under the arrangement, Myriad will acquire all issued and outstanding Rush shares in exchange for Myriad shares, and Rush shareholders will also receive shares in a Rush subsidiary (1577075 B.C. Ltd., holding the Boxi Property).

  • Buyer
    KKR
    Target
    UGI Corporation
    Industry
    Energy
    Type
    Buyout

    KKR has reportedly made an approximately $9 billion takeover bid to acquire UGI Corporation for $42.50 per share, representing a 21.1% premium to UGI’s prior closing price. The proposal is not yet guaranteed to result in a transaction and has not been described as definitively agreed or closed.

  • Buyer
    Main Street Capital Corporation
    Target
    Midstream Valve Partners, LLC (MVP)
    Seller
    MVP's founder (partnered with Main Street on the transaction)
    Industry
    Energy

    Main Street Capital completed a $39.3 million minority recapitalization of Midstream Valve Partners (MVP). The investment combines first-lien, senior secured term debt with a direct minority equity stake, partnering with MVP’s founder while preserving MVP’s operational independence.

  • Buyer
    McFarlane Lake Mining Limited
    Target
    iMetal Resources, Inc.
    Industry
    Energy
    Location
    Ontario, Canada

    McFarlane Lake Mining Limited completed a strategic, non-brokered private placement investment in Canadian junior explorer iMetal Resources, purchasing 14,200,852 units at $0.10 per unit for $1,420,085. The units include iMetal shares and warrants, giving McFarlane beneficial ownership of approximately 19.9% of iMetal’s issued and outstanding common shares, along with investor rights such as board nomination and participation rights in future issuances.

  • Buyer
    LS Power
    Target
    Brazos Valley Energy Center (formerly Jack Fusco Energy Center)
    Seller
    Constellation
    Industry
    Energy
    Type
    Buyout

    LS Power has entered into a definitive agreement to acquire the 606-megawatt Brazos Valley Energy Center (formerly Jack Fusco Energy Center) from Constellation. The natural gas-fired combined-cycle facility is located outside Houston, Texas, and the deal is expected to close in Q4 2026 subject to regulatory approval.

  • Buyer
    Nuclea Energy Inc., Nuclea Energy Canada Inc.
    Target
    Moltex Energy advanced nuclear technology portfolio, Moltex Energy Canada
    Seller
    Moltex Energy Limited
    Industry
    Energy
    Location
    New Brunswick, Canada
    Type
    Buyout

    Moltex Energy announced that Nuclea Energy has entered into a definitive agreement to acquire Moltex’s advanced nuclear technology portfolio following a competitive bidding process. The portfolio includes Moltex’s Waste to Stable Salt (WATSS) used nuclear fuel recycling process and related reactor technologies (SSR-W and FLEX), with completion subject to closing conditions including UK National Security and Investment Act 2021 approval.

  • Buyer
    Mora Energy, NGP Energy Capital Management, LLC
    Target
    Tejon Treating and Carbon Solutions LLC, West Texas Midstream Gas Services, LLC (Quail system)
    Seller
    Bayswater Exploration & Production, LLC (funds managed by), Williams Companies, Inc.
    Industry
    Energy
    Type
    Addon

    Mora Energy has closed two acquisitions in the Midland Basin: Tejon Treating and Carbon Solutions and the West Texas Midstream Gas Services (Quail) system. The deals expand Mora’s natural gas gathering, compression, and sour gas treating footprint and are supported by increased equity commitments from NGP Energy Capital Management and a new revolving credit facility led by BOK Financial and Huntington Bank.

  • Buyer
    DISA Technologies, Inc., DISA Uranium Corporation, Tembo Capital, BHP Ventures, Galvanize Climate Solutions, Valor Equity Partners, Evok Innovations, Halliburton Labs, Veriten
    Target
    IsoEnergy Ltd. Utah Portfolio (Tony M Mine, Daneros Mine, Rim Mine, Sage Plain Project, Flatiron Project)
    Seller
    IsoEnergy Ltd.
    Industry
    Energy
    Type
    Buyout

    IsoEnergy and DISA Technologies entered into a definitive agreement to form DISA Uranium Corporation and combine IsoEnergy’s Utah Portfolio (Tony M Mine, Daneros Mine, Rim Mine, Sage Plain Project, and Flatiron Project) with DISA’s proprietary HPSA processing technology and remediation/recovery business. The transaction is supported by a concurrent $105 million private placement financing, with IsoEnergy committing $33 million.

  • Buyer
    FIC Partners Management
    Target
    Perfect Power
    Industry
    Energy
    Type
    Buyout

    FIC Partners Management acquired Perfect Power, the developer, owner, and operator of the Jaguar Energy Center in Texas. The platform combines grid-connected battery energy storage with solar generation and targets up to 1.15 GW of planned capacity across about 4,500 acres.

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Frequently Asked Questions

What parts of the energy value chain show up most often in these acquisitions?

You’ll see transactions spanning power generation (including solar-plus-storage), natural gas midstream infrastructure, and LNG services, alongside grid-edge and smart metering/data platforms and some mineral/resource-linked activity.

Which geographies are represented in recent energy acquisition activity?

Recent items reference South Africa, Mexico, Northern Chile, Texas (U.S.), Australia, the United Arab Emirates, Idaho (U.S.), and Alberta (Canada), among others.

Are these deals mainly control purchases or minority/structured stakes?

Both appear. Some deals are structured as majority stake acquisitions (e.g., ePointZero’s 90% stake; Grupo México’s 70% stake), while others involve strategic partnerships or retained ownership interests (such as Sasol retaining a 23% interest in its nitrates joint venture).

Do the deals include power storage and grid-edge technology?

Yes. Examples include battery energy storage alongside solar in Chile (272 MW solar + 1,100 MWh storage) and a smart metering/data platform acquisition in Australia (DigitalBridge and PLUS ES).

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