Tracked deals
209
209 tracked deals across 2025.
Energy Acquisitions in 2025
Buyer mix
Mixed buyer set
167 strategic · 80 pe
Top trend
Volume peaked in 2026
226 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 |
|---|---|---|---|
| Environ Energy | 3 | Provider of sustainable energy management, procurement, e... | Strategic (PE-backed) |
| Reliable Energy Partners | 3 | Propane distribution platform formed and wholly owned by ... | Strategic (PE-backed) |
| Soundcore Capital Partners | 3 | Thesis-driven private equity firm focused on buy-and-buil... | PE |
| Stonepeak | 3 | Alternative investment firm investing in infrastructure a... | PE |
| 424 Capital | 2 | Lower-middle-market private equity firm investing in B2B ... | PE |
| ARUMILLI LLC | 2 | Institutional investor / passive shareholder (filed Sched... | Investor |
| Amber Energy Inc. | 2 | Energy-focused buyer referenced in the court process as s... | Strategic |
| Ardian | 2 | Global private investment house active across Private Equ... | PE |
| Clarios | 2 | Global leader in low-voltage battery technologies for mob... | Strategic (PE-backed) |
| EnergyHub | 2 | Provider of grid‑edge clean energy software and DERMS/VPP... | Strategic |
Acquisition Volume in Energy in 2025 by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- Stonepeak, CPP Investments, bp
- Target
- Castrol
- Seller
- bp
- Industry
- Energy
- Location
- United Kingdom
- Type
- Buyout
Stonepeak has agreed to acquire a majority controlling interest in Castrol from bp in a transaction valuing the lubricants business at an enterprise value of approximately $10.1 billion. bp will retain a 35% minority stake, while CPP Investments will invest up to USD $1.05 billion in support of the deal; the transaction is expected to close by the end of 2026, subject to regulatory approvals.
-
December 18, 2025
- Buyer
- Trump Media & Technology Group (TMTG)
- Target
- TAE Technologies
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Trump Media & Technology Group (TMTG) and fusion-energy developer TAE Technologies (TAE) have signed a definitive all-stock merger agreement valued at more than $6 billion. The combined company is expected to pursue utility-scale fusion deployment, with site selection and construction of a first 50 MWe plant targeted for 2026, and planned leadership shared between Devin Nunes (TMTG) and Dr. Michl Binderbauer (TAE).
-
December 18, 2025
- Buyer
- Revelar Capital
- Target
- Lettermen's Energy Holdings, LLC
- Seller
- CID Capital
- Industry
- Energy
- Location
- Missouri, United States
- Type
- Divestiture
Revelar Capital has acquired Lettermen's Energy Holdings, LLC from Indianapolis-based private equity firm CID Capital. Lettermen's, a Kansas City-headquartered consolidator of independent propane distributors with operations in roughly 20 states and about 240 employees, was built by CID through a buy-and-build strategy and will enter its next growth phase under Revelar's ownership; terms were not disclosed.
-
December 17, 2025
- Buyer
- Stonepeak
- Target
- Allgas
- Seller
- APA Group, Marubeni Corporation, other shareholders
- Industry
- Energy
- Location
- Queensland, Australia
- Type
- Buyout
Stonepeak has entered into a definitive agreement to acquire Allgas, a gas distribution network operating across Queensland, Australia. The deal is subject to regulatory approvals and is expected to close in the first half of 2026.
-
December 16, 2025
- Buyer
- Iron Oak Energy Solutions LLC
- Target
- Superior Silica Sands LLC
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Iron Oak Energy Solutions LLC acquired Superior Silica Sands LLC in an all-stock transaction, adding over 3 million tons per year of frac sand production capacity and expanding Iron Oak's footprint in the Eagle Ford Shale. The deal increases Iron Oak's total annual production capacity to roughly 40 million tons and broadens the combined platform's ability to serve oil & gas, construction and industrial sand markets.
-
December 15, 2025
- Buyer
- Shurya Vitra Ltd, Emeren Holdings Ltd
- Target
- Emeren Group Ltd
- Industry
- Energy
- Location
- Connecticut, United States
- Type
- Buyout
Emeren Group Ltd entered into a definitive merger agreement to be acquired by Shurya Vitra Ltd through a merger with Emeren Holdings Ltd, its wholly owned subsidiary (Merger Sub). The transaction valued each Emeren ordinary share at US$0.20 in cash (US$2.00 per ADS) and is expected to close in the third quarter of 2025.
-
December 15, 2025
- Buyer
- Canada Pension Plan Investment Board (CPP Investments), Global Infrastructure Partners (GIP)
- Target
- ALLETE, Inc.
- Industry
- Energy
- Location
- Minnesota, United States
- Type
- Buyout
CPP Investments and Global Infrastructure Partners (GIP) entered into a definitive agreement to acquire ALLETE for $67 per share in cash, valuing the transaction at $6.2 billion including assumed debt. The deal is expected to close in mid-2025 (later described as closing around Dec. 15, pending remaining conditions) and will take ALLETE private while delivering approximately $200 million in benefits to Minnesota Power customers and communities.
-
December 15, 2025
- Buyer
- Crescent Energy Company
- Target
- Vital Energy, Inc.
- Industry
- Energy
- Location
- Oklahoma, United States
- Type
- Buyout
Crescent Energy Company acquired Vital Energy, Inc. in an all-stock transaction valued at approximately $3.1 billion, including Vital’s net debt. The deal was expected to close in December 2025 and was later announced as having closed, creating a top-10 independent E&P company.
-
December 15, 2025
- Buyer
- TRM
- Target
- Sheffield Scientific
- Seller
- Joshua Weinstein (primary owner of Sheffield Scientific)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
TRM, an Alexandria-based enterprise asset management and reliability consultancy, has acquired Sheffield Scientific, a Katy, Texas consulting firm focused on EAM (IBM Maximo, Hitachi Asset Suite) and OT cybersecurity for power generation. The deal strengthens TRM's power generation capabilities, adds Sheffield's Serket OT risk-management software and specialist personnel, and increases TRM's headcount to more than 180 employees.
-
- Buyer
- Antero Midstream
- Target
- HG II Energy Midstream Holdings
- Industry
- Energy
- Location
- Colorado, United States
- Type
- Buyout
Antero Midstream has entered into a definitive agreement to acquire HG II Energy Midstream Holdings for $1.1 billion in cash, a deal positioned as a bolt-on expansion to its Marcellus Shale footprint. The announcement also pairs the acquisition with a separate agreement for Antero Midstream to divest its Ohio Utica Shale midstream assets for $400 million, with both transactions subject to regulatory approvals and customary closing adjustments.
-
December 11, 2025
- Buyer
- Reliable Energy Partners, Soundcore Capital Partners
- Target
- Economy Propane
- Seller
- Doug McKnew, Bobby Perry
- Industry
- Energy
- Location
- Maryland, United States
- Type
- Addon
Reliable Energy Partners, a propane distribution platform owned by Soundcore Capital Partners, has acquired Economy Propane, a bulk-propane distributor headquartered in Baltimore, Maryland. The add-on expands Reliable’s footprint into the Mid-Atlantic and broadens the platform’s capabilities into bulk propane distribution to serve residential, commercial and industrial customers.
-
December 11, 2025
- Buyer
- Spotlight Energy, LLC
- Target
- PathPoint Energy LLC
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Spotlight Energy, a Houston-based wholesale energy marketing firm, has completed its acquisition of PathPoint Energy, a natural gas trading, logistics, and asset optimization specialist. The deal expands Spotlight's commercial trading and optimization capabilities and strengthens its footprint across core U.S. and Canadian natural gas and power markets.
-
December 10, 2025
- Buyer
- Natura Resources, NOV Inc. (investor)
- Target
- Shepherd Power
- Seller
- NOV Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Natura Resources has acquired Shepherd Power from NOV Inc., adding Shepherd's regulatory, licensing, and reactor deployment expertise to accelerate commercialization of Natura's molten-salt small modular reactor (MSR) technology. NOV will partner with Natura on manufacturing and project execution, invest in Natura and appoint a board representative to support delivery of gigawatts of SMRs for data center and industrial customers in the early 2030s.
-
December 9, 2025
- Buyer
- LS Power
- Target
- BP Wind Energy North America Inc.
- Seller
- bp
- Industry
- Energy
- Location
- Texas, United States
- Type
- Addon
LS Power completed the acquisition of bp’s US onshore wind business, BP Wind Energy North America Inc., adding approximately 1,300 MW of operating onshore wind capacity across 10 projects. The assets will be integrated into LS Power affiliate Clearlight Energy, expanding Clearlight’s national footprint and increasing LS Power’s North American renewable generation scale.
-
December 4, 2025
- Buyer
- EnergyHub, Alarm.com
- Target
- Resideo Grid Services
- Seller
- Resideo Technologies, Inc.
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Divestiture
EnergyHub (an Alarm.com subsidiary) has acquired Resideo Technologies’ Grid Services demand response business, which will be integrated into EnergyHub’s Edge DERMS and VPP capabilities. Resideo divested the unit to focus on its core residential sensing and controls business; financial terms were not disclosed.
-
December 4, 2025
- Buyer
- Celtis Venture Partners, Cleanwatts management team (José Basílio Simões, Jorge Landeck, James McDougall)
- Target
- Cleanwatts Digital
- Industry
- Energy
- Location
- Portugal
- Type
- Growth capital
Cleanwatts Digital has launched as an independent AI-powered digital energy company after a management buyout led by founding partners José Basílio Simões, Jorge Landeck and James McDougall, with investment from Celtis Venture Partners. The Coimbra-based company provides battery integration, renewable asset optimization and behind-the-meter energy management via a cloud-based platform that serves global clients and manages 1.5 TWh across ~35,000 IoT devices.
-
- Buyer
- Mirion Technologies, Inc.
- Target
- Paragon Energy Solutions
- Seller
- Windjammer Capital Investors
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Mirion Technologies, Inc. (NYSE: MIR) has completed the acquisition of Paragon Energy Solutions, a Fort Worth-based provider of engineered electrical, instrumentation & controls, HVAC, mechanical and flow components for nuclear power plants and small modular reactors. Paragon was sold by Windjammer Capital Investors, which had acquired the company in November 2021 and supported product expansion and sales-channel investments to position Paragon for growth in the nuclear sector.
-
November 29, 2025
- Buyer
- AirLife Gases Private Limited
- Target
- Royal Helium Ltd.
- Industry
- Energy
- Location
- Saskatchewan, Canada
- Type
- Buyout
AirLife Gases Private Limited completed the acquisition of 79,901,328 common shares and 4,000,000 warrants of Royal Helium Ltd., representing approximately 52.9% of the fully-diluted common shares, giving AirLife control of Royal Helium. The deal gives AirLife upstream access to helium production assets in southern Saskatchewan and southeastern Alberta, Canada, and rights to nominate a board majority and an exclusive offtake for Royal Helium's helium and specialty gases.
-
- Buyer
- Amber Energy Inc.
- Target
- PDV Holding, Inc., CITGO Petroleum Corporation
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Amber Energy Inc. has been approved by the U.S. District Court for the District of Delaware to acquire PDV Holding, Inc., the parent of CITGO Petroleum Corporation. The transaction is expected to close in 2026 (mid-2025 per another source), subject to regulatory approvals and satisfaction of customary closing conditions.
-
November 24, 2025
- Buyer
- Reliable Energy Partners, Soundcore Capital Partners
- Target
- Gateway Propane
- Industry
- Energy
- Location
- Missouri, United States
- Type
- Addon
Reliable Energy Partners, a propane distribution platform owned by Soundcore Capital Partners, has acquired Gateway Propane, a market-leading propane distributor serving the greater St. Louis area. The add-on expands Reliable's operational footprint to three states and strengthens its strategy of scaling a multi-regional propane distribution platform; terms were not disclosed.
-
November 23, 2025
- Buyer
- Worldwide Diversified Holdings, Inc.
- Target
- American Lithium Minerals, Inc.
- Industry
- Energy
- Location
- Nevada, United States
- Type
- Buyout
Worldwide Diversified Holdings, Inc. has acquired a controlling interest in American Lithium Minerals, Inc., gaining indirect control over AMLM's option on a 1,730-acre lithium and boron property in Nevada. The transaction positions AMLM to launch a global minerals and rare earth development program (via new subsidiary American Mineral Resources, Inc.) and to reposition the company as a Nasdaq-uplisted commodity acquisition and tokenization vehicle.
-
November 21, 2025
- Buyer
- Energy Distribution Partners (EDP)
- Target
- Preferred Propane (Preferred Energy Group)
- Seller
- Roland Violette Jr. / Violette family (owners of Preferred Propane)
- Industry
- Energy
- Location
- Connecticut, United States
- Type
- Buyout
Energy Distribution Partners (EDP), a multi-state retail propane marketer, has acquired Preferred Propane (Preferred Energy Group) of Vernon, Connecticut. Blue Peak Resources advised the Violette family on the sale; the family will retain and continue operating their HVAC business, which was not part of the transaction.
-
November 21, 2025
- Buyer
- Energy Overwatch
- Target
- Porosity
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Energy Overwatch has acquired Porosity, a Houston-based software and AI company, to integrate Porosity’s digital workflow, data‑integration, and AI-driven variance detection capabilities into Energy Overwatch’s compliance SaaS and field services platform. The deal (closed November 21, 2025) expands Energy Overwatch’s ability to provide unified regulatory management, emissions monitoring, and real‑time operational intelligence to upstream, midstream, and downstream oil & gas operators.
-
November 19, 2025
- Buyer
- Centuri Holdings, Inc.
- Target
- Connect Atlantic Utility Services Corporation (CAUS)
- Seller
- Pilot Wave Holdings Management, LLC
- Industry
- Energy
- Location
- Nova Scotia, Canada
- Type
- Buyout
Centuri Holdings, Inc. (NYSE: CTRI) has completed the acquisition of Connect Atlantic Utility Services Corporation (CAUS), a leading electric utility services provider in Atlantic Canada. The deal expands Centuri's Canadian footprint and adds electric transmission, distribution, maintenance and storm-restoration capabilities to complement its existing gas services; CAUS is headquartered in Bedford, Nova Scotia and has more than 150 employees.
-
November 17, 2025
- Buyer
- TotalEnergies (TotalEnergies SE)
- Target
- EPH flexible power generation platform (Western Europe) / portfolio contributed to TTEP, TTEP (flexible power generation platform)
- Seller
- Energetický a průmyslový holding (EPH)
- Industry
- Energy
- Location
- Netherlands
- Type
- Buyout
TotalEnergies has completed its acquisition of a 50% stake in EPH’s flexible power generation platform in Western Europe, forming TTEP. The platform operates flexible natural gas and biomass power plants and battery energy storage systems across Italy, the United Kingdom, Ireland, the Netherlands, and France, with 14 GW of capacity (installed or under construction).
-
November 14, 2025
- Buyer
- Waterous Energy Fund Management Corp. (on behalf of Waterous Energy Fund III partnerships)
- Target
- Greenfire Resources Ltd.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Waterous Energy Fund Management Corp., acting for certain Waterous Energy Fund III partnerships, purchased 1,926,055 common shares of Greenfire Resources Ltd. in a private transaction for C$6.65 per share (C$12.81 million), increasing its ownership in Greenfire to approximately 71.1% on an undiluted basis. The purchase represents an incremental strategic investment by Waterous to consolidate its position in the Calgary-based oil sands producer.
-
November 13, 2025
- Buyer
- GigCapital7 Corp.
- Target
- Hadron Energy, Inc.
- Industry
- Energy
- Location
- United States
- Type
- Buyout
Hadron Energy, Inc. completed its previously announced business combination with GigCapital7 Corp., a private-to-public equity (PPE) SPAC, marking Hadron’s transition to the public markets. At closing, the company received approximately $31 million in total cash (including non-redemption proceeds and SAFE bridge financing), had zero debt, and began trading on Nasdaq under ticker symbols "HDRN" and "HDRNW" on May 26, 2026.
-
November 12, 2025
- Buyer
- Enstor Pipeline Holdings, LLC (affiliate of Enstor Gas, LLC)
- Target
- Black Bear Transmission Opco, LLC
- Seller
- Basalt Infrastructure Partners
- Industry
- Energy
- Location
- United States
- Type
- Buyout
Enstor Pipeline Holdings, LLC (an affiliate of Enstor Gas) has completed its previously announced acquisition of Black Bear Transmission Opco, LLC from Basalt Infrastructure Partners. The purchase adds roughly 1,700 miles of natural gas transmission pipelines and 2.6 Bcf/d of throughput capacity, extending Enstor’s footprint across the Southeastern United States.
-
November 12, 2025
- Buyer
- Clarios
- Target
- Maxwell Technologies
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Clarios has acquired Maxwell Technologies, a U.S.-based manufacturer of supercapacitor cells and modules, to strengthen its position in high-performance, short-duration energy storage solutions. Financial terms were not disclosed; Maxwell will operate as an independent U.S.-based business unit and the deal is intended to expand Clarios' supercapacitor capabilities, supply-chain resilience, and reach into non-automotive end markets such as data centers and grid applications.
-
November 12, 2025
- Buyer
- Dispatch Energy LLC
- Target
- Green Lantern Solar
- Seller
- Green Lantern Solar shareholders
- Industry
- Energy
- Location
- Vermont, United States
- Type
- Buyout
Dispatch Energy LLC acquired 100% of Green Lantern Solar’s operations, including 64 solar and battery projects totaling 208.9 MWdc and an O&M services business. The deal expands Dispatch’s distributed generation footprint across nine U.S. states and brings its total portfolio to approximately 489.5 MW.
-
November 12, 2025
- Buyer
- Soundcore Capital Partners, Reliable Energy Partners
- Target
- Florida Lift Gas
- Industry
- Energy
- Location
- Florida, United States
- Type
- Buyout
Soundcore Capital Partners has formed Reliable Energy Partners, a propane distribution growth platform, through its acquisition of Florida Lift Gas and has named industry veteran Sean Daugherty as CEO. The platform — headquartered in Tampa, Florida and wholly owned by Soundcore — will pursue organic growth and strategic add-on acquisitions to scale a multi-regional residential and commercial propane distribution business.
-
- Buyer
- Yokogawa Electric Corporation
- Target
- Intellisync, WiSNAM
- Industry
- Energy
- Location
- Sicily, Italy
- Type
- Buyout
Yokogawa Electric Corporation has acquired Italian firms Intellisync (cybersecurity and digital transformation services) and WiSNAM (grid control and energy management hardware/software) and will integrate them into BaxEnergy, Yokogawa's renewable energy software subsidiary. The acquisitions expand Yokogawa/BaxEnergy's capabilities in cybersecurity, grid compliance and power-plant control to support renewable and distributed energy management and recurring software/managed-service revenue models.
-
November 5, 2025
- Buyer
- Hennessy Capital Investment Corp. VII
- Target
- ONE Nuclear Energy LLC
- Industry
- Energy
- Location
- Nevada, United States
- Type
- Growth capital
Hennessy Capital Investment Corp. VII (a SPAC) and ONE Nuclear Energy LLC announced a previously proposed business combination expected to take ONE Nuclear public and list the combined company on Nasdaq under the ticker symbol ONEN. The deal is structured such that, at closing, Hennessy VII will complete its domestication as a Delaware corporation, ONE Nuclear will become a wholly-owned subsidiary, and Hennessy VII will be renamed ONE Nuclear Energy Inc.
-
November 4, 2025
- Buyer
- Xpansiv Limited
- Target
- Evident Group Limited
- Industry
- Energy
- Location
- South Yorkshire, United Kingdom
- Type
- Buyout
Xpansiv Limited has wholly acquired Evident Group Limited, combining Evident's international I-REC(E) and other registries with Xpansiv's North American Renewables Registry (NAR) and TIGR to create a leading global renewable energy certificate (REC) registry network. The deal expands Xpansiv's global registry and certification capabilities, creating an integrated platform with over 300 GW of registered capacity and more than 4,000 participating companies.
-
November 4, 2025
- Buyer
- DTN
- Target
- Tandem Concepts
- Industry
- Energy
- Location
- South Carolina, United States
- Type
- Buyout
DTN has acquired a controlling interest in Tandem Concepts, a Charleston-based AI-powered platform that automates order entry and terminal/carrier integrations for refined fuel logistics. The deal expands DTN’s Fuel Operations Hub by adding terminal-to-retail intelligence and enabling real-time, reservation-based ordering across the downstream fuel supply chain.
-
October 29, 2025
- Buyer
- Cygnet Energy Ltd., NGP Energy Capital Management, Carlyle, ARC Financial Corp.
- Target
- Kiwetinohk Energy Corp. (KEC)
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
Cygnet Energy has entered into a definitive agreement to acquire Kiwetinohk Energy Corp. (KEC) for C$24.75 per share in cash, valuing the transaction at approximately C$1.4 billion including debt. The deal is expected to close in December 2025, subject to court and regulatory approvals, with funding primarily from NGP Energy Capital Management and Carlyle and a portion of ARC Financial’s KEC shares rolling into Cygnet equity.
-
- Buyer
- Hitachi Energy, Blackstone Energy Transition Partners
- Target
- Shermco
- Seller
- Private equity funds affiliated with Blackstone
- Industry
- Energy
- Location
- Texas, United States
- Type
- Growth capital
Hitachi Energy has acquired a minority stake in Shermco, a leading North American electrical services provider, in partnership with Blackstone Energy Transition Partners. The strategic investment aims to expand Hitachi Energy's service capabilities across North America, accelerate Shermco's growth, and develop new digital service offerings to improve grid reliability and asset lifecycle management.
-
October 28, 2025
- Buyer
- RESA Power, LLC, Kohlberg
- Target
- Accurate Power Group Limited
- Seller
- Darren Boeur
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Addon
RESA Power, a Kohlberg-backed provider of power systems services, has acquired Accurate Power Group Limited, a Vancouver-based electrical testing and infrared thermography specialist. The add-on expands RESA Power's technical capabilities and vault/thermography services in the greater Vancouver market as part of a broader Canadian growth strategy.
-
- Buyer
- AngloGold Ashanti plc
- Target
- Augusta Gold Corp.
- Seller
- Augusta Gold Corp. stockholders (majority holders via voting support agreements; otherwise not otherwise specified as sellers)
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Buyout
AngloGold Ashanti entered into a definitive merger agreement to acquire Augusta Gold Corp. for C$1.70 per share in cash. The transaction was approved by Augusta Gold stockholders and completed on October 23, 2025, with Augusta Gold becoming a wholly-owned subsidiary of AngloGold Ashanti.
-
October 23, 2025
- Buyer
- Paraco Gas
- Target
- North Shore Bottled Gas
- Seller
- Bob Burger
- Industry
- Energy
- Location
- New York, United States
- Type
- Buyout
Paraco Gas, a large privately held propane retailer, has acquired North Shore Bottled Gas, a family-owned bottled propane business founded in 1988 in Saint James, New York. The acquisition expands Paraco's footprint and service capabilities across New York as part of its ongoing roll-up of family-run propane companies.
-
- Buyer
- SkyKnight Capital
- Target
- Force Electrical Services
- Industry
- Energy
- Location
- Oklahoma, United States
- Type
- Growth capital
SkyKnight Capital has made a growth investment in Force Electrical Services, a transmission and distribution repair and maintenance provider headquartered in Oklahoma, to support the company's expansion of services and capabilities. The founder will remain a significant shareholder and the existing management team will continue to lead as Force scales its footprint across the South-Central United States.
-
October 15, 2025
- Buyer
- StormFisher Hydrogen
- Target
- Recyclage Carbone Varennes (RCV)
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Buyout
StormFisher Hydrogen has acquired Recyclage Carbone Varennes (RCV) through a court‑approved process and will repurpose the partially built RCV site to develop North America’s first large‑scale low‑carbon (RFNBO‑compliant) methanol plant in Varennes, Québec. The facility — using clean hydrogen and captured CO₂ — is planned to produce more than 72,000 tonnes of low‑carbon methanol annually and begin operations in 2028, supporting maritime, aviation, and chemical markets while capturing over 100,000 tonnes of CO₂ per year.
-
October 13, 2025
Citadel has entered into a definitive agreement to acquire 100% of Hamburg-based power trading and renewable energy risk management firm FlexPower. The deal is expected to close in the fourth quarter of 2025, subject to customary closing conditions, and combines Citadel Commodities’ risk management and analytics with FlexPower’s renewable trading expertise.
-
October 9, 2025
- Buyer
- Resource Innovations
- Target
- Shifted Energy
- Industry
- Energy
- Location
- Hawaii, United States
- Type
- Buyout
Resource Innovations (RI), a San Francisco–based utility software and consulting platform, has acquired Honolulu-based Shifted Energy to integrate its Grid Maestro DERMS technology into RI’s demand-side management (DSM) and grid-edge offerings. The deal expands RI’s capability to deliver end-to-end virtual power plant and flexible load management solutions at scale, with a focus on equitable access for renters and underserved communities.
-
October 8, 2025
- Buyer
- Eagle Summit Resources, LLC
- Target
- Reflectance Energy, LLC
- Industry
- Energy
- Location
- West Virginia, United States
- Type
- Buyout
Eagle Summit Resources, LLC purchased Reflectance Energy, LLC and will operate the acquired Reflectance coal mining complex under the new name Eagle Mountain Energy, LLC. The acquisition adds more than two million tons of annual metallurgical coal production capacity in Wyoming County, West Virginia and strengthens ESR's position among the top U.S. metallurgical coal producers; the deal was accompanied by a new term loan facility from Valor Mining Credit Partners (managed by Breakwall Capital in partnership with Vitol) and an exclusive marketing agreement with Vitol for export volumes.
-
October 8, 2025
- Buyer
- Environ Energy, 424 Capital
- Target
- Scioto Energy
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Addon
Environ Energy, a PE-backed national energy management platform, has acquired Scioto Energy, an independent energy brokerage and advisory firm based in Columbus, Ohio. The add-on expands Environ’s presence in the PJM market and Midwest, enhances its procurement and advisory capabilities, and keeps Scioto’s leadership and client-focused team in place under the Environ platform.
-
October 7, 2025
- Buyer
- Ardian
- Target
- Energia Group
- Seller
- I Squared Capital
- Industry
- Energy
- Location
- Ireland
- Type
- Buyout
Ardian has announced a definitive agreement to acquire 100% of Energia Group from I Squared Capital. The transaction is expected to close in the first quarter of 2026, subject to regulatory approvals.
-
- Buyer
- Northleaf Capital Partners, Provident Energy Management Inc.
- Target
- PowerStream Energy Services
- Seller
- Alectra Energy Services Inc., Alectra Inc.
- Industry
- Energy
- Location
- Ontario, Canada
- Type
- Addon
Infrastructure funds managed by Northleaf Capital Partners completed a tuck‑in acquisition of PowerStream Energy Services from Alectra Energy Services Inc., executed through Northleaf portfolio company Provident Energy Management. The deal expands Provident’s sub‑metering and billing footprint across Ontario, combining complementary capabilities and a contracted revenue profile to drive scale and growth.
-
- Buyer
- Commonwealth Electrical Technologies, Broad Sky Partners
- Target
- NuWave Energy Solutions
- Industry
- Energy
- Location
- Massachusetts, United States
- Type
- Addon
Commonwealth Electrical Technologies (CET), a Broad Sky Partners–backed electrical contractor based in Worcester, Massachusetts, has acquired NuWave Energy Solutions, a Norwell, Massachusetts–based design/build energy-efficiency firm. The add-on deal — CET’s first transaction under Broad Sky’s ownership — expands CET’s sustainability and energy-conservation capabilities across commercial, industrial and institutional end markets; terms were not disclosed.
-
October 3, 2025
- Buyer
- Alkhorayef Petroleum Company (APC)
- Target
- GRC Technologies
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Saudi Arabia-headquartered Alkhorayef Petroleum Company (APC) has acquired Houston-based GRC Technologies, a supplier of precision downhole gauges and well instrumentation. The deal adds ESP sensors and digital intelligence capabilities to APC’s artificial lift product suite, strengthening its end-to-end ESP solutions and accelerating integration of data-driven and AI-enabled optimisation.
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