Energy Acquisitions in 2026

Dallas-based private equity firm Trive Capital has made a control investment in Rolfson Oil, a Texas-headquartered fuel, oils and lubricants distributor focused on energy customers. Subsequent to Trive's investment, Rolfson acquired Oklahoma City-based Flint Logistics Group to expand its fuel delivery, onsite storage and lubricant distribution footprint across the Southwest U.S.

Scale, an EQT-backed provider of on-site energy solutions, has acquired Reload, a powered land development platform focused on siting, designing, and permitting gigawatt-scale data center campuses. The deal adds Reload's grid-scale development expertise and multi-gigawatt pipeline to Scale's data center energy offering to accelerate speed-to-power for hyperscalers and other large customers.

MidCentral Energy Partners has acquired Expanse Electrical Company, a provider of electrical, automation, and power infrastructure services. The acquisition expands MidCentral's capabilities in high-voltage construction, substation automation, and field-level controls to better serve oil & gas, utility, data center, and industrial customers.

Agnico Eagle Mines Limited purchased 662,780 common shares of Maple Gold Mines Ltd. at C$2.45 per share for total consideration of C$1,623,811, increasing its stake in Maple to approximately 12.98% on a non-diluted basis. The investment was made from several sellers who participated in a flow-through offering and is part of Agnico Eagle's strategy to acquire strategic positions in prospective exploration opportunities.

TA Associates has joined Volue as a new strategic investor alongside Advent International, Generation Investment Management and Arendals Fossekompani. The Oslo-based energy software and electrification technology company said the investment endorses its focused strategy following an 18-month transformation and will support accelerated R&D, product capability expansion, geographic growth, and M&A.

Zeitview, an AI-driven asset intelligence company, has acquired Insight M, a methane detection and analytics firm, marking Zeitview's formal entry into the oil and gas sector. The deal combines Insight M's aircraft-based methane detection and basin-scale analytics with Zeitview's global visual-inspection platform to expand capabilities for emissions mitigation and asset intelligence across energy infrastructure.

Cango Inc. closed a previously announced US$10.5 million equity investment from Enduring Wealth Capital Limited and entered into definitive agreements for approximately US$65 million of additional Class A equity investments from entities wholly owned by Chairman Xin Jin and director Chang-Wei Chiu. The proceeds will be used to support Cango's expansion into AI and computing infrastructure and to strengthen its balance sheet.

SI Solutions, through its advanced engineering division Structural Integrity Associates (SIA), has acquired Radiological Solutions, Inc., a nuclear engineering partner that specializes in plant chemistry, radiological controls, radiation protection, and specialized monitoring equipment. The acquisition expands SIA's capabilities in nuclear chemistry, radiation management, emergency preparedness and equipment design and brings Radiological Solutions' team and expertise (based outside Chicago) into SI Solutions' PE-backed platform.

Reliable Energy Partners, a propane distribution platform backed by Soundcore Capital Partners, has acquired Irvington Gas, a bulk-propane distributor headquartered in Irvington, Kentucky. The deal expands Reliable's operating footprint to six states as part of its buy-and-build strategy for residential and commercial propane distribution; terms were not disclosed.

Reges Elektrik has acquired Tuşpa Enerji Üretim A.Ş. and its 70 MW Demirli Wind Power Project in Kaman, Kırşehir from RES Türkiye (a subsidiary of RES Group). The project will deploy 10 ENERCON E-175 EP5 E2 turbines — the first deployment of this model in Turkey — marking Reges Elektrik's strategic expansion from energy supply into power generation and renewable asset ownership.

Boyne Capital closed a single-asset secondary transaction forming a continuation fund to extend its ownership of Pilot Energy and provide new capital for the company's aggressive M&A and organic growth plans. The Fund is managed and controlled by Boyne and was anchored by New 2ND Capital, which along with other new and existing Boyne LPs provided commitments to support Pilot’s platform expansion and technology investments.

BKV Corporation acquired one-half of Banpu Power US Corporation’s (BPPUS) interest in BKV-BPP Power, LLC for approximately $115.1 million in cash and 5,315,390 newly issued BKV common shares, increasing BKV’s ownership in the power joint venture to 75% from 50%. The transaction gives BKV majority control of the JV (which owns the Temple I and II combined-cycle gas power plants in Temple, Texas) to consolidate results and accelerate expansion of its power operations in the ERCOT market.

SM Energy Company has completed its all‑stock merger with Civitas Resources, with the combined company retaining the SM Energy name and NYSE ticker "SM." Beth McDonald was named president and CEO and Blake McKenna named EVP and COO; the enlarged board now has 11 members (six from SM, five from Civitas). Management highlighted a $200–$300 million annual synergy target and plans to pursue at least $1.0 billion of divestitures over the next year to drive higher free cash flow and strengthen the balance sheet.

Electric Power Engineers (EPE), a global advisory and engineering firm headquartered in Austin, Texas, has acquired Estudios Eléctricos, a South American power systems engineering firm founded in Argentina with teams in Argentina, Chile and Colombia. The acquisition expands EPE's grid-planning and software-enabled capabilities across Latin America and advances the firm's regional presence and service offerings to utilities, developers, data centers and public-sector clients.

RESA Power, a portfolio company of Kohlberg, has acquired Québec City-based Société Générale d'Électrotechnique (SGE), adding in-house engineering and Canadian manufacturing of medium- and high-voltage power transformers. The deal expands RESA Power's footprint into Quebec and broadens its electrical construction, testing, and transformer capabilities as part of a strategy to build regional hubs across Canada.

TPI Efficiency, a ScaleCo Capital portfolio company, has acquired Community Energy Advisors (CEA) and sister company Viridi in Medina, Ohio as the third and fourth add-on acquisitions for the platform. ScaleCo completed the transaction in partnership with Agility Equity Partners and Tecum Capital to expand TPI's energy procurement, advisory and efficiency capabilities and to broaden its Chamber-driven channel reach across the Midwest.

Fresnillo plc completed an all-cash acquisition of Probe Gold Inc. for approximately C$780 million (C$3.65 per share), closing on 22 January 2026. The deal gives Fresnillo ownership of Probe’s Novador project in the Val d'Or district (Quebec), expanding Fresnillo’s geographic footprint and gold resource base in Canada.

American Lithium Minerals, Inc. acquired a 19% interest in Cunningham Mining Ltd, which owns the Nugget Trap placer claims (573.7 acres) in the Golden Triangle region of British Columbia and is permitted for a 30,000 cubic yard per annum pay mining program. The transaction expands AMLM's portfolio of precious- and critical-metals projects and the company appointed Ryan Cunningham as President and CEO of its wholly owned subsidiary American Mineral Resources, Inc.

SkyFire Energy Inc. has acquired Hakai Energy Solutions, a British Columbia–based renewable energy firm specializing in grid-tied and remote off-grid solar and microgrid systems. The acquisition expands SkyFire's presence across Vancouver Island, coastal British Columbia and remote communities and strengthens its capabilities in solar, microgrid and battery energy storage systems, creating a combined team of roughly 200 employees.

Energy Management Collaborative (EMC) has acquired Earth Savers, an LED and smart lighting solutions provider with deep experience in healthcare facilities, to broaden EMC’s healthcare offering and service capabilities across North America. The deal pairs EMC’s national footprint and broader energy-efficiency services with Earth Savers’ specialized healthcare expertise to accelerate growth in healthcare accounts and expand service capacity.

SLB has completed the acquisition of RESMAN Energy Technology, a Norway-headquartered provider of wireless reservoir surveillance and tracer solutions. The deal integrates RESMAN's tracer technology into SLB's production and recovery portfolio to deliver faster, more precise reservoir insights and improved operational efficiency for operators.

USA Compression Partners LP (USAC) has completed the acquisition of J‑W Power Company for approximately $860 million, funded with $430 million drawn from its revolving credit facility and the issuance of about 18.2 million common units at an effective price of $23.50 per unit. The deal adds more than 0.8 million active horsepower to USAC’s fleet across major U.S. basins (bringing total active horsepower to ~4.4 million), expands aftermarket services and parts distribution capabilities, and diversifies the commercial customer base.

NextEra Energy Resources (a unit of NextEra Energy, Inc.) has acquired Symmetry Energy Solutions from private equity firm Energy Capital Partners (ECP). The acquisition expands NextEra's natural gas supply, logistics and asset-management capabilities; Symmetry is a Houston-based retail natural gas supplier serving thousands of commercial and industrial customers.

GEOLOG International B.V. acquired Quad Ltd and QO Inc., integrating Quad’s wellsite geology, pore pressure and fracture gradient analysis capabilities into GEOLOG’s global wellsite geosciences and drilling support services. The bolt-on deal strengthens GEOLOG’s technical capabilities and global service delivery across complex drilling environments; terms were not disclosed.

Constellation Energy completed its acquisition of Calpine Corporation from Energy Capital Partners, creating the largest electricity producer in the United States with a combined 55 GW of generating capacity and ~2.5 million retail and business customers. The deal brings Calpine's natural gas and geothermal fleet together with Constellation's nuclear platform to expand capabilities, scale in high-demand regions (notably Texas and California), and support emerging clean-energy technologies.

RESA Power, a Kohlberg-backed provider of power systems services, has acquired 3MD Power Services LLC, a Roanoke, Virginia-based specialist in high-voltage transformer testing, repair, maintenance and installation. The add-on expands RESA Power's transformer solutions capabilities, increases its oil/dielectric fluid processing rig fleet and establishes a local operating presence in the South Atlantic states.

Lane42 Investment Partners, in partnership with Karis Midstream Partners, has acquired Aqua Terra Permian, an energy midstream company operating gathering, transportation and saltwater disposal assets in the Permian Basin. The investment will strengthen the company’s balance sheet and provide capital to support growth as the platform will be led by the Karis team with Odely Sakazi as CEO and David Melton as COO.

Alphabet Incorporated has agreed to acquire Intersect Power, an independent power producer focused on utility-scale solar, wind and battery energy storage systems (BESS). The all-cash deal values Intersect at $4.75 billion plus assumption of debt and brings multiple gigawatts of commissioned and in-development generation and storage capacity — including projects co-located with data centers — into Alphabet's portfolio to help secure power for its data center footprint.

Jabil Inc. completed the acquisition of Hanley Energy Group on January 2, 2026, for approximately $725 million in cash plus up to $58 million of contingent consideration. The purchase brings Hanley's rack-to-rack data center power and energy-management capabilities into Jabil to expand its rack-level power management and thermal solutions for AI-focused hyperscalers and large data center customers.