Tracked deals
12
12 tracked deals across 2020-2026.
Energy Buyers & Acquisitions in Arizona
Buyer mix
Strategic-led
10 strategic · 4 pe
Top trend
Volume peaked in 2026
3 tracked deals announced in 2026.
Primary Insight
What Stands Out
- Solar and renewables services show up repeatedly, including O&M and vegetation/land stewardship support for renewable infrastructure (Clairvest Group, QE Solar).
- Grid and demand-response capability building appears via EnergyHub acquiring Resideo Grid Services for integration into Edge DERMS/VPP.
- Transmission & distribution contracting is a clear theme in Arizona through SOLV Energy’s acquisition of Spartan Infrastructure.
- Energy efficiency and smart building technologies feature in Court Square Capital’s acquisition of Veregy.
- Some deals expand through water/energy conservation products (via Franklin Energy / AM Conservation and Evolve Technologies), and one transaction uses a reverse merger/share exchange structure (Eco Innovation Group, Inc. / Kepler GTL Technologies).
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| AM Conservation | 1 | Provider and distributor of energy- and water-saving prod... | Strategic |
| ARMM Inc. | 1 | OTCQB-listed firearms lifestyle platform that is serving ... | Strategic |
| Alarm.com | 1 | Publicly traded connected-property and IoT platform provi... | Strategic |
| Audax Private Equity | 1 | Middle-market private equity firm and owner of RelaDyne | PE |
| Clairvest Equity Partners VI (CEP VI) | 1 | A Clairvest-managed private equity fund focused on equity... | PE |
| Clairvest Group Inc. | 1 | Investment firm focused on private equity and growth inve... | PE |
| Court Square Capital | 1 | Middle-market private equity firm investing across busine... | PE |
| D&H United Fueling Solutions | 1 | Provider of petroleum fueling and EV charging system serv... | Strategic (PE-backed) |
| Eco Innovation Group, Inc. | 1 | Public-market platform company pursuing strategic transac... | Mixed |
| EnergyHub | 1 | Provider of edge DERMS and virtual power plant (VPP) soft... | Strategic |
Acquisition Volume in Energy in Arizona by Year
Last 5 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
July 31, 2026
- Buyer
- Homeland Critical Minerals Corp.
- Target
- MAX Power Resources LLC
- Seller
- MAX Power Mining Corp.
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Buyout
MAX Power Mining Corp. completed the sale of all equity interests in its wholly owned subsidiary, MAX Power Resources LLC, to Homeland Critical Minerals Corp. Homeland acquired the Willcox Playa Lithium Project by paying with 11 million common shares of Homeland. The deal was executed under a Share Purchase Agreement dated June 5, 2026.
-
April 1, 2026
- Buyer
- Eco Innovation Group, Inc.
- Target
- Kepler GTL Technologies Inc.
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Buyout
Eco Innovation Group, Inc. (OTC: ECOX), rebranding as American EcoFuels, completed closing items for its previously disclosed transaction with Kepler GTL Technologies Inc. The closing finalized a reverse merger and share exchange structure, transferring control through the issuance of Series A super voting preferred shares and establishing a new control structure aligned with Kepler GTL’s operating business.
-
- Buyer
- QE Solar LLC
- Target
- Quercus Land Stewardship Services LLC (Quercus) — renewable services team
- Seller
- Quercus Land Stewardship Services LLC
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Buyout
QE Solar announced it has acquired the renewable services team of Quercus Land Stewardship Services LLC (Quercus), which provides vegetation management and land stewardship services for renewable energy infrastructure. The deal is intended to strengthen QE Solar’s vegetation management capabilities and expand its service coverage in the Midwest for utility-scale and commercial/industrial solar and BESS assets.
-
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.
-
June 23, 2025
- Buyer
- SOLV Energy
- Target
- Spartan Infrastructure
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Buyout
SOLV Energy has acquired Spartan Infrastructure, a Mesa, Arizona-based high-voltage transmission contractor. The acquisition expands SOLV Energy's transmission and distribution (T&D) capabilities, providing the combined company greater scale to pursue larger utility and renewable grid projects across the U.S.; financial terms were not disclosed.
-
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.
-
August 18, 2022
- Buyer
- ARMM Inc. (OTCQB: ARMM)
- Target
- Current Energy and Renewables Corp. (CER)
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Buyout
ARMM Inc. entered into a binding letter of intent to combine with Current Energy and Renewables Corp. (CER), a Scottsdale-based supplier of renewable and traditional energy, in a business combination that will result in CER becoming a publicly traded entity under the name Current Energy and Renewables Corp. The deal is intended to provide CER access to public markets and to help accelerate its expansion of power purchase agreements and energy supply services across deregulated U.S. markets.
-
April 4, 2022
- Buyer
- D&H United Fueling Solutions
- Target
- Cochise Contractors, Services and Petroleum Equipment
- Seller
- Brent Erekson, Apryl Erekson
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Addon
D&H United Fueling Solutions acquired Cochise Contractors, Services and Petroleum Equipment (Cochise) of Phoenix, Arizona, adding Cochise’s ~70 employees and expanding D&H’s footprint in the Arizona market. The deal expands D&H’s service offerings and coverage across the Sun Belt and Mountain West, and the combined company will operate ~16 branches with roughly 570 employees; D&H is PE-backed by KLH Capital.
-
February 23, 2022
- Buyer
- Select Energy Services, Inc.
- Target
- Nuverra Environmental Solutions, Inc.
- Seller
- Ascribe II Investments, LLC, Ascribe III Investments, LLC, Gates Capital Management, Inc.
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Buyout
Select Energy Services (NYSE:WTTR) completed the acquisition of Nuverra Environmental Solutions (NYSE American: NES) in February 2022, issuing 0.2551 shares of Select Class A common stock for each Nuverra share and converting Nuverra warrants into Select warrants. The deal brings Nuverra’s pipelines, disposal wells and landfill operations (and more than 350 employees) into Select’s water services platform, expanding its disposal capacity, geographic footprint (Bakken, Haynesville, Northeast) and production-related service offerings.
-
December 9, 2020
- Buyer
- RelaDyne LLC, Audax Private Equity
- Target
- New West Oil Company
- Seller
- Founders and management of New West Oil Company (Tim Genrich, Ron Reeves, Tom Turley, Terry Cooney)
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Addon
Cincinnati-based RelaDyne LLC, a portfolio company of Audax Private Equity, has acquired New West Oil Company, an Arizona-based lubricant and commercial fuels distributor with an environmental services division. The deal marks RelaDyne’s first expansion into Arizona and Nevada and adds New West’s team, customer relationships, and used-oil/environmental service capabilities to RelaDyne’s national platform.
-
November 3, 2020
- Buyer
- Court Square Capital
- Target
- Veregy
- Seller
- Bow River Capital
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Buyout
Court Square Capital has completed the acquisition of Veregy, an independent energy services company, from Bow River Capital. Veregy provides energy efficiency, smart building technologies, and infrastructure upgrades for public-sector and commercial clients; Court Square will support the company's continued growth and technology-enabled service expansion.
-
- Buyer
- Clairvest Group Inc., Clairvest Equity Partners VI (CEP VI)
- Target
- NovaSource Power Services (SunPower O&M business)
- Seller
- SunPower Corporation
- Industry
- Energy
- Location
- Arizona, United States
- Type
- Buyout
Clairvest Group Inc., together with its fund Clairvest Equity Partners VI (CEP VI), acquired the solar operations and maintenance (O&M) business of SunPower Corporation and will rebrand the business as NovaSource Power Services. The transaction is a management buyout with the SunPower O&M leadership taking material equity; Clairvest intends to build NovaSource as a global buy-and-build solar O&M platform to expand capabilities and geographic reach.
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Frequently Asked Questions
Which energy subsectors are most represented in Arizona acquisitions here?
The deals shown cover solar services (including O&M and vegetation/land stewardship), grid software/demand response (DERMS/VPP), transmission & distribution contracting, energy efficiency and smart building upgrades, and conservation-focused products.
What kinds of buyers are active in these Arizona energy transactions?
Activity includes specialized energy services companies and platform builders (e.g., QE Solar LLC, EnergyHub, SOLV Energy) as well as investment firms backing energy services (e.g., Court Square Capital, Clairvest Group Inc.) and utility-adjacent operators (Franklin Energy / AM Conservation).
Do these acquisitions include grid software or demand response capabilities?
Yes. EnergyHub (an Alarm.com subsidiary) acquired Resideo Grid Services to be integrated into EnergyHub’s Edge DERMS and VPP capabilities.
Are there any notable deal structures besides standard acquisitions?
Yes. Eco Innovation Group, Inc. completed a reverse merger/share exchange structure with Kepler GTL Technologies, including the issuance of Series A super voting preferred shares as part of the new control structure.
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