Energy Acquisitions in Michigan

Sagepoint Energy, LLC has acquired Peoples LFG, LLC — a 4.8 MW landfill gas-to-electricity facility in Birch Run, Michigan — from North American Power Systems, LLC. Sagepoint plans to convert the site into a landfill gas-to-renewable-natural-gas (RNG) facility, starting construction in 2025 with commercial RNG operations expected in 2026.

Dallas-based family office HEST Investments made a growth-stage investment in Valerion, a University of Michigan–based battery technology company, in June 2024. The capital will fund further testing and development as Valerion advances its battery technology toward commercialization for EVs and other energy-storage markets.

SitelogIQ has acquired IKON | EFS, a national energy and facility solutions provider headquartered in Grandville, Michigan. The deal expands SitelogIQ’s EV charging, lighting, HVAC and energy services capabilities and extends its reach into automotive dealership and retail verticals.

Lawrenceville, Georgia-based Majors Management, LLC acquired the assets of Davis Oil Co., adding 21 convenience store locations across West Michigan and fuel supply relationships with 11 commission marketers. The transaction marks Majors' first entry into Michigan and expands its retail fuel and convenience footprint in the region.

Kinder Morgan, Inc. has closed the $135 million acquisition of North American Natural Resources, Inc. and its sister companies North American Biofuels, LLC and North American-Central, LLC, acquiring seven landfill gas-to-power facilities in Michigan and Kentucky. Kinder Morgan will evaluate converting up to four sites to renewable natural gas (RNG) with approximately $175 million of capital spend, expanding its RNG generation capacity and diversifying its renewables portfolio.

Sleeping Bear Capital, a newly formed San Francisco-based private equity firm, acquired the fuel cell manufacturing business unit of Ultra Electronics and relaunched it as Adaptive Energy LLC. Adaptive Energy — based in Ann Arbor, Michigan — designs and manufactures solid oxide fuel cells (SOFC) for backup and portable power, and serves customers including Lockheed Martin and RedHawk under long-term supply agreements.