Tracked deals
16
16 tracked deals across 2021-2026.
Energy Buyers & Acquisitions in Ohio
Buyer mix
Mixed buyer set
13 strategic · 11 pe
Top trend
Volume peaked in 2021
5 tracked deals announced in 2021.
Primary Insight
What Stands Out
- TPI Efficiency (ScaleCo Capital) has multiple Ohio add-on acquisitions, expanding procurement and efficiency management for mid-sized commercial clients.
- Environ Energy (PE-backed) is building its Ohio and PJM footprint through acquisitions such as Scioto Energy.
- Service and grid-supply specialization appears in deals like RESA Power’s acquisition of Power Asset Recovery Corporation (PARC).
- Strategic power moves include EOG Resources, Inc. expanding its Utica shale position and Vistra Corp. integrating Energy Harbor’s nuclear and retail businesses.
- Several transactions emphasize continuity of leadership and regional client relationships after closing (e.g., Worthington Energy Consultants and Scioto Energy).
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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 |
|---|---|---|---|
| ScaleCo Capital | 2 | Lower middle-market private equity firm investing in and ... | PE |
| TPI Efficiency | 2 | Vendor-neutral energy consulting firm providing energy pr... | Strategic (PE-backed) |
| 424 Capital | 1 | Private equity firm making control investments in lower-m... | PE |
| Alpha Generation | 1 | ArcLight-affiliated operator/manager expected to oversee ... | Mixed |
| Ameresco, Inc. | 1 | Cleantech integrator and energy infrastructure provider d... | Strategic |
| ArcLight Capital Partners affiliate | 1 | Investment firm focused on value-added infrastructure/ele... | PE |
| Avenue Capital Group | 1 | Investment manager; becomes a major Energy Harbor holder ... | Mixed |
| Basalt Infrastructure Partners | 1 | Mid-market infrastructure equity investment firm focused ... | PE |
| Boyne Capital Partners | 1 | Florida-based private equity firm focused on lower middle... | PE |
| Boyne Capital Partners, LLC | 1 | Florida-based private equity firm focused on lower‑middle... | PE |
Acquisition Volume in Energy in Ohio by Year
Last 5 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- Strategic Value Partners, LLC
- Target
- South Field Energy
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Addon
Strategic Value Partners (SVP) and its affiliates have agreed to acquire a minority equity interest in South Field Energy, a 1,182-megawatt natural gas combined-cycle generation facility in Columbiana County, Ohio. The investment is being made through SVP’s partnership with EverGen Power, a power generation asset management firm formed in 2024.
-
- Buyer
- Priority Power Management, LLC, I Squared Capital
- Target
- Aspen Energy Corporation
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Buyout
Aspen Energy Corporation was acquired by Priority Power Management, LLC, a portfolio company of I Squared Capital. Footprint Capital acted as exclusive sell-side advisor, and the combined organization will integrate Aspen into Priority Power to expand advisory capabilities and regional presence across the Midwest.
-
January 29, 2026
- Buyer
- TPI Efficiency, ScaleCo Capital
- Target
- Community Energy Advisors, Viridi
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Addon
ScaleCo Capital’s portfolio company TPI Efficiency acquired both Community Energy Advisors and Viridi in two related add-on acquisitions. The deals expand TPI’s energy procurement and efficiency management platform with customized advisory and energy procurement capabilities for mid-sized commercial clients.
-
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.
-
- Buyer
- EOG Resources, Inc.
- Target
- Encino Acquisition Partners (EAP)
- Seller
- Canada Pension Plan Investment Board (CPP Investments), Encino Energy
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Buyout
EOG Resources announced a definitive agreement to acquire Encino Acquisition Partners (EAP) for $5.6 billion, inclusive of EAP’s net debt. The deal expands EOG’s Utica shale position by adding 675,000 net acres, creating a combined 1.1 million net-acre Utica footprint.
-
- Buyer
- TPI Efficiency, ScaleCo Capital, Tecum Capital
- Target
- The Utilities Group
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Addon
TPI Efficiency, a Cleveland-based energy brokerage and sustainability consulting firm and portfolio company of ScaleCo Capital, has acquired The Utilities Group (TUG), a Cincinnati-based energy management and sustainability consultant. The add-on, supported by ScaleCo and growth capital from Tecum Capital, expands TPI's geographic footprint in Ohio and enhances its procurement and sustainability service offerings to commercial and industrial clients.
-
December 10, 2024
- Buyer
- RESA Power, LLC, Investcorp
- Target
- Power Asset Recovery Corporation
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Addon
RESA Power, a portfolio company of Investcorp, has acquired Power Asset Recovery Corporation (PARC), a North Canton, Ohio-based supplier of substation power transformers and high-voltage transformer parts. The acquisition expands RESA Power's transformer services and parts capabilities and accelerates PARC's entry into RESA's broader national footprint; it is RESA's eighth acquisition in 2024.
-
September 30, 2024
- Buyer
- Basalt Infrastructure Partners (funds advised by Basalt Infrastructure Partners LLC)
- Target
- AEP OnSite Partners
- Seller
- American Electric Power (AEP)
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Divestiture
Funds advised by Basalt Infrastructure Partners LLC have completed the acquisition of AEP OnSite Partners from American Electric Power (AEP). AEP nets approximately $318 million in cash after taxes, transaction fees and customary adjustments; the sale received required regulatory clearances including FERC and HSR approvals.
-
April 3, 2024
- Buyer
- Pilot Energy, Boyne Capital Partners, LLC
- Target
- Worthington Energy Consultants
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Addon
Pilot Energy, backed by Boyne Capital Partners, has acquired Worthington Energy Consultants, a Columbus, Ohio–based energy consulting firm, to strengthen Pilot's national presence and capabilities in deregulated markets including CAISO and PJM. Worthington's Principal Craig Grant will continue to lead day-to-day operations as the firm is integrated into Pilot's platform.
-
- Buyer
- ArcLight Capital Partners affiliate, Alpha Generation
- Target
- Clean Energy Future Lordstown
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Buyout
An affiliate of ArcLight Capital Partners entered into a definitive agreement to acquire 100% of the equity of Clean Energy Future Lordstown. Lordstown owns and operates a 940 MW combined-cycle gas power facility in Warren, Ohio, which is expected to be managed by ArcLight affiliate Alpha Generation after closing.
-
March 8, 2023
- Buyer
- Vistra Corp., Avenue Capital Group, Nuveen
- Target
- Energy Harbor
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Buyout
Vistra Corp. (NYSE: VST) signed a definitive agreement to acquire Energy Harbor in a transaction valued at more than $3 billion. Energy Harbor will merge into a newly formed Vistra subsidiary holding company (“Vistra Vision”), combining Energy Harbor’s nuclear and retail businesses with Vistra’s nuclear, renewables, and storage assets.
-
December 20, 2021
- Buyer
- Pilot Power Group, Boyne Capital Partners
- Target
- Trebel Energy (Trebel, LLC)
- Seller
- Scott Belcastro
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Addon
Pilot Power Group, a portfolio company of Boyne Capital Partners, has acquired Trebel Energy, a provider of electricity and natural gas procurement services serving municipal aggregation (CCA) and commercial clients in Ohio. The deal positions Pilot to expand its capabilities and presence in the Ohio CCA market by adding Trebel’s CCA expertise, customer relationships and procurement operations.
-
December 7, 2021
- Buyer
- Ameresco, Inc.
- Target
- Plug Smart
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Buyout
Ameresco, a cleantech integrator, has acquired Plug Smart, an Ohio-based energy services firm specializing in building controls and building automation systems. The acquisition expands Ameresco's smart buildings and controls capabilities and adds to its clean-energy project pipeline across government, education, healthcare and commercial markets.
-
December 3, 2021
- Buyer
- Magellan Scientific, LLC
- Target
- MicroBT Whatsminer M30S ASIC mining servers
- Seller
- MicroBT
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Growth capital
Magellan Scientific, LLC closed its initial round of equity funding and simultaneously acquired 1,600 MicroBT Whatsminer M30S ASIC mining servers. The company will deploy the servers across Q4 2021 and Q1 2022, using ~6MW of its 100MW off-grid capacity in Ohio and Pennsylvania to expand Bitcoin production and hold mined digital assets.
-
March 16, 2021
- Buyer
- IGS Energy
- Target
- JadeTrack
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Buyout
IGS Energy has acquired Columbus-based JadeTrack, a sustainability-focused software provider that helps commercial and industrial customers manage energy use, automate utility bill management and monitor real-time energy performance. The purchase expands IGS Energy’s commercial sustainability and energy-management capabilities as it integrates JadeTrack’s platform into its offerings.
-
- Buyer
- Flyers Energy, LLC
- Target
- Fleet Express Commercial Fueling
- Seller
- Mansfield Energy Corp
- Industry
- Energy
- Location
- Ohio, United States
- Type
- Divestiture
Flyers Energy, LLC acquired Fleet Express Commercial Fueling, a division of Mansfield Energy Corp, expanding Flyers' unattended cardlock fueling network in and around Dayton, Ohio. The acquired sites will operate under Flyers' Quick Fuel brand; DCA Partners served as Flyers' M&A advisor on the transaction.
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Frequently Asked Questions
What kinds of energy businesses are being acquired in Ohio?
The deals include power generation assets (e.g., combined-cycle and nuclear/retail integration), energy procurement and advisory firms, and grid-related equipment/service providers such as transformer parts and substation transformer services.
Are there recurring acquirers in Ohio energy acquisitions?
Yes. Names that appear across multiple transactions include TPI Efficiency, ScaleCo Capital portfolio activity, Environ Energy, RESA Power, and investor-backed platforms such as Investcorp and Boyne Capital Partners.
Do Ohio transactions focus only on power generation?
No. Alongside generation-focused deals, several acquisitions target procurement, energy management/sustainability consulting, brokerage/advisory services, and transformer/grid supply capabilities.
How do buyers describe the reason for acquiring Ohio targets?
Common stated themes include expanding regional presence (Ohio/Midwest or PJM), adding procurement and advisory capabilities, and integrating targets into broader platform services while keeping leadership and client-focused teams in place where noted.
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