Tracked deals
114
114 tracked deals across 2023.
Energy Acquisitions in 2023
Buyer mix
Mixed buyer set
100 strategic · 53 pe
Top trend
Volume peaked in 2026
227 tracked deals announced in 2026.
Buyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Bernhard Capital Partners | 2 | Infrastructure- and services-focused private equity firm ... | PE |
| Castleton Commodities International LLC | 2 | Global energy commodity merchant and infrastructure inves... | Strategic |
| Critical Energy Infrastructure Services (CEIS) | 2 | Platform company providing human capital solutions, opera... | Strategic (PE-backed) |
| Energy Transfer LP | 2 | Public U.S. energy infrastructure operator with midstream... | Strategic |
| Qualus Corporation | 2 | Power engineering and technical services firm providing t... | Strategic (PE-backed) |
| SPATCO Energy Solutions | 2 | Supplier, installer and maintenance provider of turnkey s... | Strategic (PE-backed) |
| White Wolf Capital | 2 | Private investment firm focused on middle-market direct a... | PE |
| Yes Energy | 2 | Provider of power market data, analytics, and software fo... | Strategic (PE-backed) |
| 1PointFive | 1 | Carbon capture and sequestration platform affiliated with... | Strategic |
| 424 Capital | 1 | Growth capital investor focused on lower middle market te... | PE |
Acquisition Volume in Energy in 2023 by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- TG Natural Resources LLC, Tokyo Gas America, Castleton Commodities International LLC
- Target
- Rockcliff Energy II LLC
- Seller
- Quantum Energy Partners, Quantum Capital Group
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
TG Natural Resources LLC (backed by Tokyo Gas America and Castleton Commodities International) agreed to acquire 100% of Rockcliff Energy II LLC from Quantum Energy Partners/Quantum Capital Group for approximately $2.7 billion. Rockcliff is an upstream natural gas producer focused on the East Texas Haynesville shale with field headquarters in Longview, Texas and ~1.3 Bcf/d gross operated production; the deal closed following customary approvals.
-
December 13, 2023
- Buyer
- Castleton Commodities International LLC (CCI)
- Target
- Lower 48 Energy BESS Ltd. (L48 Energy)
- Industry
- Energy
- Location
- England, United Kingdom
- Type
- Buyout
A subsidiary of Castleton Commodities International LLC (CCI) acquired a majority stake in Lower 48 Energy BESS Ltd. (L48 Energy), a UK-based developer, builder, owner and operator of large-scale battery energy storage systems (BESS). CCI said the investment will help scale L48's grid-scale storage platform in the UK with potential expansion into other European markets.
-
December 12, 2023
- Buyer
- Infraneo, Seven2
- Target
- Technipipe
- Industry
- Energy
- Location
- Provence-Alpes-Côte d'Azur, France
- Type
- Addon
Infraneo, with the support of majority shareholder Seven2, has acquired Technipipe, a France-based specialist in pipeline and industrial unit monitoring, inspection and maintenance. The add-on expands Infraneo's asset integrity capabilities in the Energy sector and strengthens its presence in the PACA region and across France and Europe.
-
December 7, 2023
- Buyer
- SPIE (through SPIE Oil & Gas Services / SPIE Global Services Energy)
- Target
- Correll Group
- Industry
- Energy
- Location
- North Yorkshire, United Kingdom
- Type
- Buyout
French multi-technical services group SPIE will acquire 85% of Correll Group, a UK-based specialist in electrical engineering, installation and maintenance for the offshore wind sector. The deal expands SPIE Oil & Gas Services' footprint in offshore wind (it will be renamed SPIE Global Services Energy) and is expected to close in January 2024; Correll will retain 15% with management and contributes ~€55m revenue and c.109 employees plus 500+ contractors (2023).
-
December 5, 2023
- Buyer
- Yes Energy
- Target
- Anchor Power Solutions
- Industry
- Energy
- Location
- Georgia, United States
- Type
- Buyout
Yes Energy has acquired Anchor Power Solutions, the developer of EnCompass power market forecasting and resource-planning software. The deal brings Anchor Power’s modeling capabilities into Yes Energy’s data and analytics platform to expand long-term power market modeling, transmission and decarbonization planning tools for utilities, developers and market participants.
-
December 4, 2023
- Buyer
- TMT Acquisition Corp
- Target
- eLong Power Holding Limited, Huizhou Yipeng Energy Technology Co., Ltd.
- Industry
- Energy
- Location
- Jiangxi, China
- Type
- Buyout
TMT Acquisition Corp (a publicly traded SPAC) entered into a definitive business combination agreement to take eLong Power Holding Limited public via a merger, with the combined company expected to be named eLong Power Inc. The transaction values initial equity at an implied $450 million and is expected to close in the first half of 2024, providing eLong Power with access to U.S. public markets and capital to support expansion of its commercial EV and energy storage battery business.
-
December 1, 2023
- Buyer
- HF Sinclair Corporation
- Target
- Holly Energy Partners, L.P.
- Seller
- HEP common unitholders
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
HF Sinclair Corporation completed the merger to acquire all outstanding common units of Holly Energy Partners, L.P., paying 0.3150 shares of HF Sinclair common stock and $4.00 in cash per HEP common unit. The transaction removed HEP from public trading and gives HF Sinclair full ownership of HEP's midstream terminals, pipelines and storage assets to better integrate and optimize its logistics and midstream capabilities.
-
November 28, 2023
- Buyer
- E Source, Align Capital Partners
- Target
- UMS Group
- Industry
- Energy
- Location
- New Jersey, United States
- Type
- Addon
E Source, the Align Capital Partners-backed utility market intelligence and data-science platform, has acquired UMS Group, a utility management consulting firm. The add-on strengthens E Source’s consulting capabilities in areas such as wildfire risk reduction, asset management, renewable integration and advanced AI modeling for utilities.
-
November 15, 2023
- Buyer
- Standard Solar
- Target
- 12-megawatt community solar project portfolio (Chatham and Kilmarnock, Virginia)
- Seller
- New Leaf Energy
- Industry
- Energy
- Location
- Virginia, United States
- Type
- Divestiture
Standard Solar, a Brookfield Renewable company, has acquired a 12-megawatt community solar project portfolio in Virginia from New Leaf Energy, comprising one project in Chatham and two in Kilmarnock. The projects — including over 7 MW allocated to low- and moderate-income customers in Kilmarnock — are expected to generate about 19,811 MWh annually and mark Standard Solar's entry into Virginia's community solar market.
-
November 14, 2023
- Buyer
- Apollo-managed funds, Composite Advanced Technologies, LLC (CATEC)
- Target
- Kelley Leasing Partners
- Seller
- Kelley Leasing Partners
- Industry
- Energy
- Location
- Texas, United States
- Type
- Addon
Apollo-managed funds and Composite Advanced Technologies (CATEC) have acquired Kelley Leasing Partners and launched Hydria, a high-growth compressed gas equipment manufacturing, leasing and services platform focused on CNG, RNG, helium and hydrogen. The transaction brings Kelley’s manufacturing, maintenance and leasing capabilities together with CATEC’s Type IV compressed gas technology and positions Hydria to scale across industrial gas, utility and virtual pipeline end markets in support of the energy transition.
-
November 13, 2023
- Buyer
- Calibre Mining Corp.
- Target
- Marathon Gold Corporation
- Seller
- Marathon shareholders
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Buyout
Calibre Mining Corp. entered into a definitive arrangement agreement to acquire all issued and outstanding common shares of Marathon Gold Corporation in a court-approved plan of arrangement. The combination creates an Americas-focused mid-tier gold producer with expected pro-forma annual production of approximately 500,000 ounces (2025–2026E) and fully funds the construction of Marathon’s Valentine Gold Project.
-
- Buyer
- Macquarie Capital Principal Finance
- Target
- Camin Cargo Control Holdings, Inc.
- Seller
- Metalmark Capital
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Macquarie Capital Principal Finance has signed a definitive agreement to acquire Camin Cargo Control Holdings, a global provider of testing, inspection and certification (TIC) and fuel treatment services, from Metalmark Capital. Camin Cargo, headquartered in Pasadena, Texas, operates 64 laboratory and inspection branches across 19 countries; Macquarie plans to accelerate growth organically and via acquisitions and to expand capabilities in renewable fuels.
-
November 7, 2023
- Buyer
- Glencore AG (Glencore plc)
- Target
- PolyMet Mining Corp.
- Industry
- Energy
- Location
- Minnesota, United States
- Type
- Buyout
Glencore AG (a subsidiary of Glencore plc) completed a plan of arrangement to acquire all remaining common shares of PolyMet Mining Corp., becoming the sole beneficial owner of 100% of PolyMet. The cash consideration was US$2.11 per common share; PolyMet's head office is in St. Paul, Minnesota and the deal consolidates Glencore's ownership of the NorthMet copper‑nickel project.
-
- Buyer
- EQT Infrastructure (EQT Infrastructure VI fund)
- Target
- Statera Energy Limited
- Seller
- InfraRed Capital Partners
- Industry
- Energy
- Location
- England, United Kingdom
- Type
- Buyout
EQT Infrastructure VI has agreed to acquire Statera Energy Limited, a London-headquartered developer and operator of battery storage and flexible generation assets, from InfraRed Capital Partners. EQT will provide growth capital and operational support to accelerate deployment of Statera's 1GW (operational and under construction) and its 16GW project pipeline, including battery storage, pumped hydro and green hydrogen projects across the UK.
-
November 6, 2023
- Buyer
- Madison Energy Infrastructure (MEI)
- Target
- Pro-Tech Energy Solutions
- Industry
- Energy
- Location
- New Jersey, United States
- Type
- Addon
Madison Energy Infrastructure (MEI) has acquired Pro-Tech Energy Solutions, a Moorestown, New Jersey-based turnkey energy services and EPC firm. The acquisition strengthens MEI's execution and delivery capabilities—adding Pro-Tech's EPC team and a pipeline of offsite and front-of-the-meter solar projects to MEI's clean energy platform.
-
- Buyer
- Platinum Equity
- Target
- Kohler Energy
- Seller
- Kohler Co.
- Industry
- Energy
- Location
- Wisconsin, United States
- Type
- Divestiture
Platinum Equity has closed the transaction to acquire a majority interest in Kohler Energy from Kohler Co., establishing Kohler Energy as an independent, standalone business. Kohler Co. remains an investment partner, Brian Melka will serve as CEO and David Kohler will sit on the board; financial terms were not disclosed. Platinum Equity said it will invest in growth and operational initiatives to accelerate Kohler Energy's position in the global energy resilience market.
-
- Buyer
- Cameco, Brookfield Renewable, Brookfield Asset Management, Brookfield Global Transition Fund I, Institutional partners (unspecified)
- Target
- Westinghouse Electric Company
- Seller
- Brookfield Business Partners (BBU)
- Industry
- Energy
- Location
- Saskatchewan, Canada
- Type
- Buyout
A consortium led by Cameco and Brookfield Renewable, along with institutional partners, signed an agreement to acquire Westinghouse Electric Company from Brookfield Business Partners. The deal received regulatory approval and is expected to close on or about November 7 (subject to customary closing conditions).
-
November 2, 2023
- Buyer
- Williams Field Services Group, LLC, The Williams Companies, Inc.
- Target
- Cureton Front Range LLC (Cureton Midstream)
- Seller
- Tailwater Capital LLC, Ares Management Corporation (Private Equity Group fund)
- Industry
- Energy
- Location
- Colorado, United States
- Type
- Buyout
Williams Field Services Group, LLC (a subsidiary of The Williams Companies, Inc.) has signed definitive agreements to acquire Cureton Front Range LLC (Cureton Midstream) from Tailwater Capital and a fund managed by Ares Management's Private Equity Group, with an expected close in December 2023 pending regulatory approvals. Cureton is a Denver-based midstream operator with pipelines, gas processing capacity and compression assets in the DJ Basin; the deal expands Williams' asset base and regional footprint.
-
November 2, 2023
- Buyer
- Exxon Mobil Corporation
- Target
- Denbury Inc.
- Seller
- Denbury shareholders
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Exxon Mobil Corporation completed its all‑stock acquisition of Denbury Inc. in a transaction valued at $4.9 billion, with Denbury shareholders receiving 0.84 shares of ExxonMobil per Denbury share. The deal adds Denbury's ~1,300 miles of CO2 pipelines, onshore sequestration sites and Gulf Coast/Rockies oil and gas operations (over 200 million boe of proved reserves and roughly 46,000–47,000 boe/d of production), strengthening ExxonMobil's Low Carbon Solutions and CCS capabilities.
-
November 2, 2023
- Buyer
- TransAlta Corporation
- Target
- Heartland Generation Ltd.
- Seller
- Energy Capital Partners (affiliate)
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
TransAlta Corporation entered a definitive agreement to acquire Heartland Generation and affiliated Alberta Power assets from an affiliate of Energy Capital Partners for approximately C$658 million inclusive of assumed debt (C$390 million purchase price plus C$268 million debt). The acquisition adds ~1,844 MW of flexible generation (cogeneration, peaking and gas-fired thermal), is expected to be immediately accretive to cash flow and deliver corporate pre-tax synergies of about C$20 million annually, and supports TransAlta's strategy to expand flexible capacity to meet Alberta's energy transition and reliability needs.
-
November 1, 2023
- Buyer
- Energy Overwatch, LLC
- Target
- SEMPCheck, LLC
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Energy Overwatch, LLC has acquired SEMPCheck, LLC to expand its compliance, emissions monitoring, and field services capabilities for the U.S. oil and gas industry. SEMPCheck, based in Houston with an office in Lafayette, brings over 20 years of experience in OGI, LDAR, TDLAS and proprietary compliance software.
-
- Buyer
- Greenbelt Capital Management L.P., Schroders Capital (funds), StepStone Group (funds), Wafra Inc.
- Target
- Saber Power Services, LLC
- Seller
- Funds managed by Oaktree Capital Management, L.P.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
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.
-
- Buyer
- Offen Petroleum LLC, Court Square Capital Partners
- Target
- W. Douglass Distributing, Ltd.
- Seller
- W. Douglass Distributing, Ltd.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Addon
Offen Petroleum LLC, a portfolio company of Court Square Capital Partners, has acquired all of the wholesale businesses of W. Douglass Distributing, Ltd. Offen will retain virtually all wholesale employees, operate from Douglass’s Sherman, Texas campus as a regional operations center, and use the acquisition to expand its Texas and surrounding-market distribution footprint.
-
October 31, 2023
- Buyer
- JET Infrastructure
- Target
- International-Matex Tank Terminals (five terminals/assets)
- Seller
- International-Matex Tank Terminals
- Industry
- Energy
- Location
- Louisiana, United States
- Type
- Divestiture
JET Infrastructure acquired five fuel terminals from International-Matex Tank Terminals (IMTT), expanding the company's presence into Georgia, Alabama and New Mexico and increasing capacity and connectivity for aviation fuel and biofuels in the U.S. Southeast. The deal brings JET's portfolio to 12 assets with more than 2.1 million barrels of storage capacity and a network of 145 miles of pipeline; the terminals were sold by IMTT, which is headquartered in New Orleans, Louisiana.
-
October 26, 2023
- Buyer
- TotalEnergies
- Target
- Quadra Energy
- Seller
- Aloys Wobben Foundation (AWS)
- Industry
- Energy
- Location
- Germany
- Type
- Buyout
TotalEnergies has signed agreements with the Aloys Wobben Foundation to acquire the entire share capital of Germany-based renewable electricity aggregator Quadra Energy. The acquisition is subject to relevant regulatory approvals and is intended to strengthen TotalEnergies’ integrated power business in Germany, including aggregation, trading, and corporate PPA/clean firm power offerings.
-
October 25, 2023
- Buyer
- Salka LLC (Salka Energy / Salka Cabazon HoldCo LLC)
- Target
- San Gorgonio Pass wind farm (near Palm Springs, California)
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Salka LLC (doing business as Salka Energy through its subsidiary Salka Cabazon HoldCo LLC) acquired a 39 MW operating wind farm in the San Gorgonio Pass near Palm Springs, California. Salka plans to refurbish and eventually repower the facility to continue generation (estimated to power more than 11,000 homes), expand its California presence, and preserve the project from decommissioning.
-
October 24, 2023
- Buyer
- Integrated Power Services (IPS)
- Target
- Lighthouse Global Energy
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Integrated Power Services (IPS) has acquired Lighthouse Global Energy, an Abilene, Texas-based OEM wind turbine parts supplier and manufacturer. The deal expands IPS's renewables offering—adding distribution, engineering, repair and manufacturing capabilities to support utility-scale wind power, particularly in West Texas.
-
October 23, 2023
- Buyer
- Chevron Corporation
- Target
- Hess Corporation
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Chevron entered into a definitive agreement to acquire Hess in an all-stock transaction valued at about $53 billion (enterprise value $60 billion). The deal closed in 2025 after the resolution of all required closing conditions, including a favorable arbitration outcome tied to Hess’ offshore Guyana assets.
-
October 18, 2023
- Buyer
- Firmament
- Target
- Matador Gas
- Industry
- Energy
- Location
- Texas, United States
- Type
- Growth capital
Firmament, a structured equity investor, has made a strategic growth investment in Matador Gas, a retail propane distributor and standby generator service provider. The capital will support Matador's expansion plans, technology investments and service capability enhancements as the company grows its footprint around Houston and adjacent markets.
-
- Buyer
- Radius Mechanical
- Target
- National Grid Energy Management
- Seller
- National Grid
- Industry
- Energy
- Location
- New York, United States
- Type
- Divestiture
Radius Mechanical, a New Rochelle-based commercial mechanical services firm, acquired National Grid's Energy Management business (NGEM) from National Grid in a divestiture. The deal transfers NGEM's portfolio of long-term commercial and municipal energy plant operations and maintenance contracts — including work for NYCHA and several Fortune 500 clients — to Radius; terms were not disclosed.
-
October 9, 2023
- Buyer
- Qualus Corporation
- Target
- GridBright
- Industry
- Energy
- Location
- California, United States
- Type
- Addon
Qualus Corporation, a portfolio company of New Mountain Capital, has acquired GridBright, a Silicon Valley–area technology solutions firm specializing in grid integration software, systems integration, and advisory services. The deal (terms not disclosed) expands Qualus’ capabilities in grid modernization, resiliency, security, and renewable interconnection services; AEC Advisors advised Qualus and Capstone Partners advised GridBright.
-
October 4, 2023
ESG, a provider of energy SaaS solutions, has acquired Phidex, a specialist in pricing, settlement and revenue assurance software and energy consultancy services. The deal expands ESG's data analytics and pricing capabilities to better serve energy suppliers and utilities across the UK and North America.
-
October 3, 2023
- Buyer
- Mitsubishi Heavy Industries, Ltd.
- Target
- Concentric, LLC
- Seller
- OnPoint Group
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Mitsubishi Heavy Industries, Ltd. (MHI) completed the acquisition of 100% of Concentric, LLC from OnPoint Group on October 2. The acquisition establishes a new North American structure to expand MHI’s capabilities in power systems, electrification and energy services for data centers, logistics warehouses and industrial facilities.
-
- Buyer
- Riverbend Energy Group, SCF Ventures, North West Capital Partners, Ian Bruce
- Target
- Qube Technologies
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Calgary-based Qube Technologies raised a Series B growth round led by Riverbend Energy Group to accelerate product development, expand global commercial footprint, and enter new end-markets. Existing investors including SCF Ventures, North West Capital Partners and individual investor Ian Bruce remain on the cap table; Riverbend will join Qube's board.
-
October 3, 2023
- Buyer
- Yes Energy
- Target
- The C Three Group
- Industry
- Energy
- Location
- Georgia, United States
- Type
- Buyout
Yes Energy announced on October 3, 2023 that it has acquired The C Three Group, a provider of North American energy infrastructure market intelligence and project databases. The acquisition integrates C Three's infrastructure project datasets and forecasting capabilities into Yes Energy's power market data and analytics platform to give customers deeper visibility into generation, transmission, and interconnection project status and impacts on power markets.
-
October 2, 2023
- Buyer
- EnergyMark, LLC
- Target
- Crown Energy Services, Inc.
- Seller
- Crown Energy Services, Inc.
- Industry
- Energy
- Location
- New York, United States
- Type
- Divestiture
EnergyMark, LLC of Williamsville, New York has acquired the assets of Crown Energy Services, Inc. of West Seneca, New York, including Crown's New York customer book, energy storage and transportation capacity, and production from local natural gas producers. The deal expands EnergyMark's presence and supply capabilities in Western New York as the company continues to grow its renewable and natural gas sourcing and energy management offerings.
-
September 27, 2023
- Buyer
- AM Conservation, Franklin Energy
- Target
- Evolve Technologies
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Buyout
AM Conservation, a subsidiary of Franklin Energy, has acquired Evolve Technologies, a Scottsdale-based developer and manufacturer of patented water- and energy-saving shower technologies. The acquisition expands Franklin Energy and AM Conservation’s product portfolio and capability to scale water- and energy-conservation solutions through utility channels and other clients.
-
September 26, 2023
- Buyer
- Titan Cloud, Charlesbank Capital Partners
- Target
- Leighton O'Brien
- Industry
- Energy
- Location
- Victoria, Australia
- Type
- Buyout
Titan Cloud has acquired global fuel analytics software and field technologies provider Leighton O'Brien. The deal combines Titan Cloud's Fuel Asset Optimization platform with Leighton O'Brien's wetstock management and field services to accelerate global expansion, extend the product portfolio, and broaden fuel monitoring and compliance capabilities worldwide.
-
September 19, 2023
- Buyer
- Energy Plug Technologies Corp.
- Target
- True North Battery Energy Storage Corp.
- Industry
- Energy
- Location
- Canada
- Type
- Buyout
Energy Plug Technologies Corp. has completed its acquisition of True North Battery Energy Storage Corp., adding battery energy storage and EV charging capabilities to its portfolio. The deal includes a Letter-of-Cooperation for distribution with Taiwan-based C-LiFE Technologies and positions Energy Plug to expand battery energy storage product distribution across North and South America.
-
September 14, 2023
- Buyer
- Allied Group Holdings, LLC (Allied Power), Bernhard Capital Partners
- Target
- Dominion Engineering, Inc.
- Industry
- Energy
- Location
- Virginia, United States
- Type
- Addon
Allied Group Holdings, LLC (Allied Power), a Bernhard Capital Partners-backed platform, has acquired Dominion Engineering, Inc., a provider of field service equipment, technology, and specialized engineering services to the nuclear power industry. The add-on acquisition expands Allied's technical service, equipment and engineering capabilities for nuclear utilities, supporting outage, decommissioning and waste management work; financial terms were not disclosed.
-
September 13, 2023
- Buyer
- FirstLight Power
- Target
- Hydroméga Services Inc.
- Seller
- Jacky Cerceau, Philip Lawee
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Buyout
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.
-
September 12, 2023
- Buyer
- Fidelity Building Services Group
- Target
- Power of Clean Energy
- Industry
- Energy
- Location
- Tennessee, United States
- Type
- Buyout
Fidelity Building Services Group (through its Fidelity Energy & Sustainability team) has acquired Power of Clean Energy (PCE), a Nashville-based provider of energy transition planning and project implementation. The deal expands Fidelity’s energy and sustainability capabilities and strengthens its footprint across the southern United States as it scales toward a national platform for energy-efficient building solutions.
-
September 11, 2023
- Buyer
- Enservco Corporation
- Target
- Rapid Hot
- Industry
- Energy
- Location
- Pennsylvania, United States
- Type
- Buyout
Enservco Corporation (NYSE American: ENSV) has acquired all of the assets of Rapid Hot in an all-stock transaction valued at $1,057,500. Rapid Hot, headquartered in Washington, Pennsylvania, provides frac water heating services across the Appalachian Basin; the acquisition strengthens Enservco's position in the Marcellus shale and brings Rapid Hot president/CFO Mike Lade into Enservco as chief of staff. Enservco also closed a $1,625,000 convertible debt financing that included participation from Rapid Hot lead investors, an Enservco board member and Cross River Partners.
-
September 7, 2023
- Buyer
- Repsol
- Target
- ConnectGen
- Seller
- Quantum Capital Group, 547 Energy
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Repsol agreed to acquire US renewable developer ConnectGen from Quantum Capital Group/547 Energy for $768 million, adding a 20,000 MW pipeline and onshore wind development capabilities. The acquisition gives Repsol a significant onshore wind growth platform in the United States and brings ConnectGen’s development team into Repsol Renewables to accelerate the company’s international renewables expansion and 2030 capacity targets.
-
September 5, 2023
- Buyer
- Western Midstream Partners, LP
- Target
- Meritage Midstream Services II, LLC
- Industry
- Energy
- Location
- Colorado, United States
- Type
- Buyout
Western Midstream Partners, LP agreed to acquire Meritage Midstream Services II, LLC in an all-cash transaction for $885 million to expand its Powder River Basin footprint. The deal adds ~1,500 miles of gathering pipelines, ~380 MMcf/d processing capacity and the Thunder Creek NGL pipeline; closing was expected in Q4 2023 subject to customary approvals.
-
August 29, 2023
- Buyer
- Priority Power Management
- Target
- Atlas Retail Energy
- Industry
- Energy
- Location
- Massachusetts, United States
- Type
- Addon
Priority Power Management has acquired the business of Atlas Retail Energy, bringing Atlas' energy procurement and advisory capabilities into Priority Power’s platform. Atlas will continue to operate under the Atlas Retail Energy name powered by Priority Power, giving Atlas' ~425 clients access to expanded product and service offerings and Priority Power’s proprietary pricing and data systems.
-
August 24, 2023
- Buyer
- ENGIE
- Target
- Broad Reach Power
- Seller
- EnCap Energy Transition, Apollo Global Management funds
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
ENGIE has acquired Broad Reach Power, a Houston-based developer and operator of utility-scale battery energy storage systems, from investors including EnCap Energy Transition and Apollo funds. The deal—reported to be for an equity value of over $1 billion—strengthens ENGIE's battery-storage capabilities and advances its objective to reach 10 GW of battery capacity by 2030 while reinforcing its position in the United States energy transition.
-
- Buyer
- Apollo-managed funds (Apollo)
- Target
- Composite Advanced Technologies, Inc. (CATEC)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Apollo-managed funds have acquired a majority interest in Composite Advanced Technologies, Inc. (CATEC), a Houston-based manufacturer of Type IV compressed gas transportation and storage solutions for CNG, RNG and hydrogen. Apollo plans to invest additional capital to scale CATEC into a leading gaseous equipment manufacturing and services platform supporting the hydrogen and low-carbon fuel markets.
-
- Buyer
- Permian Resources
- Target
- Earthstone Energy
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Permian Resources and Earthstone Energy entered into a definitive agreement under which Permian Resources will acquire Earthstone in an all-stock transaction valued at approximately $4.5 billion, inclusive of Earthstone’s net debt. The deal is expected to enhance Permian Resources’ Delaware Basin position with significant acreage and pro forma production scale, and to deliver meaningful accretion and ~$175 million in annual cash flow improvements from synergies.
-
August 16, 2023
- Buyer
- Energy Transfer LP
- Target
- Crestwood Equity Partners LP
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Energy Transfer LP will acquire Crestwood Equity Partners LP in an all-equity transaction valued at approximately $7.1 billion, including the assumption of about $3.3 billion of debt. The merger is expected to close in the fourth quarter of 2023, subject to approvals and customary closing conditions.
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