Tracked deals
533
533 tracked deals across 2009-2026.
Top Private Equity-Backed Energy Acquirers
Buyer mix
Mixed buyer set
544 pe · 261 strategic
Top trend
Volume peaked in 2024
92 tracked deals announced in 2024.
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 |
|---|---|---|---|
| Ara Partners | 8 | Private equity firm specializing in industrial decarboniz... | PE |
| BP Energy Partners, LLC | 7 | Dallas-based growth-oriented private equity firm focused ... | PE |
| RESA Power, LLC | 7 | Market leader in power systems electrical testing, transf... | Strategic (PE-backed) |
| 424 Capital | 6 | Private equity firm making control equity investments in ... | PE |
| Bernhard Capital Partners | 6 | Infrastructure- and services-focused private equity firm ... | PE |
| Global Infrastructure Partners (GIP) | 6 | Infrastructure investor (part of BlackRock) focused on ow... | PE |
| KKR | 6 | Global investment firm making private equity and other al... | PE |
| Albireo Energy | 5 | Independent building controls and energy services provide... | Strategic (PE-backed) |
| Huron Capital | 5 | Operationally-focused private equity firm that builds low... | PE |
| I Squared Capital | 5 | Global infrastructure investment manager that builds and ... | PE |
Acquisition Volume in Private Equity-Backed Energy by Year
Last 9 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
September 8, 2026
- Buyer
- Grupo México, S.A.B. de C.V., Global Infrastructure Partners (GIP)
- Target
- Saavi Energía S.à r.l.
- Industry
- Energy
- Location
- Mexico
- Type
- Buyout
Saavi Energía announced the successful closing of its previously announced merger transaction with Grupo México. The combination creates a diversified Mexico power platform with 10 power plants plus mobile power generation and three gas compression stations, totaling 4.5 GW. After closing, Grupo México holds a 70% stake and Global Infrastructure Partners (a BlackRock subsidiary) holds the remaining 30%.
-
September 4, 2026
- Buyer
- CVC DIF
- Target
- Gabriela solar and battery energy storage project (272 MW solar, 1,100 MWh storage)
- Seller
- Grenergy
- Industry
- Energy
- Location
- Northern Chile, Chile
- Type
- Buyout
CVC DIF completed its acquisition of the Gabriela utility-scale solar photovoltaic and battery energy storage project in northern Chile from Grenergy. The transaction was structured to close once the project achieved commercial operation, which has now been reached.
-
- Buyer
- Plutonian Acquisition Corp. II
- Target
- NT1 Pty Ltd
- Industry
- Energy
- Location
- Australia
- Type
- Buyout
Australian mineral exploration company NT1 Pty Ltd entered into a definitive Agreement and Plan of Merger / Business Combination Agreement with Plutonian Acquisition Corp. II (Plutonian II). The transaction is expected to close in 2027 and will result in a combined company listed on the New York Stock Exchange, with NT1 valued at an estimated $500 million enterprise value.
-
DigitalBridge, through a managed investment vehicle, has entered into an agreement to acquire PLUS ES, one of Australia’s largest smart meter providers. PLUS ES operates ring-fenced infrastructure and data services that connect energy retailers, utilities, and network operators, managing approximately 2 million meters across Australia’s National Electricity Market. The transaction is subject to customary closing conditions, including regulatory approvals.
-
- Buyer
- Matador Gas LLC, Firmament
- Target
- Action Propane, Inc., Ozark Mountain Propane Company
- Seller
- Murray and Wanda Hoggarth (founders of Action Propane; legacy referenced), Jennifer Stowe (daughter of Ozark Mountain founder; involved in decision to sell)
- Industry
- Energy
- Location
- United States
- Type
- Addon
Matador Gas LLC, backed by Firmament, has completed the acquisitions of Action Propane, Inc. (based in Leander, Texas) and Ozark Mountain Propane Company (headquartered in Garfield, Arkansas). The deals expand Matador’s footprint across Texas and Arkansas and increase density in its existing service areas by adding long-established local propane operators.
-
August 18, 2026
- Buyer
- KKR
- Target
- UGI Corporation
- Industry
- Energy
- Location
- Pennsylvania, United States
- Type
- Buyout
KKR has reportedly made an approximately $9 billion takeover bid to acquire UGI Corporation for $42.50 per share, representing a 21.1% premium to UGI’s prior closing price. The proposal is not yet guaranteed to result in a transaction and has not been described as definitively agreed or closed.
-
- Buyer
- Mora Energy, NGP Energy Capital Management, LLC
- Target
- Tejon Treating and Carbon Solutions LLC, West Texas Midstream Gas Services, LLC (Quail system)
- Seller
- Bayswater Exploration & Production, LLC (funds managed by), Williams Companies, Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Addon
Mora Energy has closed two acquisitions in the Midland Basin: Tejon Treating and Carbon Solutions and the West Texas Midstream Gas Services (Quail) system. The deals expand Mora’s natural gas gathering, compression, and sour gas treating footprint and are supported by increased equity commitments from NGP Energy Capital Management and a new revolving credit facility led by BOK Financial and Huntington Bank.
-
- Buyer
- FIC Partners Management
- Target
- Perfect Power
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
FIC Partners Management acquired Perfect Power, the developer, owner, and operator of the Jaguar Energy Center in Texas. The platform combines grid-connected battery energy storage with solar generation and targets up to 1.15 GW of planned capacity across about 4,500 acres.
-
August 4, 2026
- Buyer
- Chair Capital Ltd
- Target
- Power Wood Holdings Ltd, Power Wood Canada Corp
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Power Wood Holdings Ltd agreed terms for an investment of up to CA$84 million to develop two advanced steam explosion black pellet production facilities in Northern Alberta, including the “Peace River” and “Hay Meadow” plants. The funding comes in tranches from London-based private investment firm Chair Capital Ltd and is subject to evidence of third-party construction financing and completion of definitive documentation.
-
- Buyer
- Altius Minerals Corporation, Northampton Capital Partners
- Target
- Great Bay Renewable Holdings, LLC, Great Bay Renewable Holdings II, LLC, Altius Renewable Royalties Corp.
- Seller
- Funds managed by affiliates of Apollo
- Industry
- Energy
- Location
- Newfoundland and Labrador, Canada
- Type
- Buyout
Altius Minerals Corporation closed a transaction to increase its effective ownership interest in Great Bay Renewable Holdings, LLC and Great Bay Renewable Holdings II, LLC (collectively, "GBR") from 29% to 50%. Funds managed by affiliates of Apollo sold their membership interests in GBR to Northampton Capital Partners, and Northampton simultaneously sold its interest in Altius Renewable Royalties Corp. to Altius—resulting in Apollo funds having no continuing interest in GBR.
-
- 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.
-
July 23, 2026
- Buyer
- USA Rare Earth, Inc., InfraVia Capital Partners (Critical Metals Fund)
- Target
- Carester SAS
- Industry
- Energy
- Location
- France
- Type
- Growth capital
USA Rare Earth entered into definitive agreements to acquire a strategic minority stake (~13.6%) in French rare earth processor Carester, while InfraVia Capital Partners (through its Critical Metals Fund) will acquire a similar stake. The investment strengthens the Lacq, France rare-earth ecosystem, including Carester’s Caremag heavy rare-earth separation and magnet recycling facility, and enables USA Rare Earth/LCM Europe to purchase a portion of Carester’s rare earth oxide output.
-
- Buyer
- Flathead Forge Fund 1
- Target
- Capwell
- Industry
- Energy
- Location
- Texas, United States
- Type
- Growth capital
Flathead Forge Fund 1 has invested in Capwell, a Houston-based methane-capture company that captures natural gas from low-flow vents that conventional equipment cannot reach. Capwell’s skid-mounted units return captured gas to the pipeline or reuse it as on-site fuel, turning a compliance cost into revenue while reducing methane emissions.
-
July 17, 2026
- Buyer
- Constellation Technology Ventures, Constellation
- Target
- Blue Energy
- Industry
- Energy
- Location
- Maryland, United States
- Type
- Growth capital
Constellation Technology Ventures, the venture arm of Constellation Energy, made a strategic equity investment in Blue Energy, a developer of financeable, prefabricated nuclear power plants. The investment is intended to accelerate Blue Energy’s shipyard/manufacturing-based project financing model and support deployment plans for GE Vernova Hitachi’s BWRX-300.
-
July 16, 2026
- Buyer
- Blackstone Credit & Insurance, Apollo, KKR
- Target
- Williams (Power Innovation projects: Socrates, Apollo, Aquila, Socrates the Younger, Neo)
- Industry
- Energy
- Location
- Oklahoma, United States
- Type
- Growth capital
Williams has signed an agreement to receive $5.34 billion of committed capital for five behind-the-meter Power Innovation projects, serving AI infrastructure demand. Blackstone (with Apollo and KKR) will hold a 49% noncontrolling equity interest in the projects, while Williams retains 51% ownership and full commercial and operational control, including a buyout right exercisable between years seven and fourteen.
-
- Buyer
- Global Infrastructure Partners (GIP)
- Target
- Summit Ridge Energy
- Industry
- Energy
- Location
- United States
- Type
- Buyout
Global Infrastructure Partners (GIP), a part of BlackRock, has agreed to acquire a majority and controlling interest in Summit Ridge Energy, a leading U.S. commercial solar and energy storage company. The investment is intended to accelerate Summit Ridge’s development and project acquisition capabilities and support growth in the Midwest, Mid-Atlantic, and New England markets.
-
- Buyer
- Stryten Energy LLC
- Target
- C&D Technologies, Inc., Trojan Battery Company, LLC, C&D Trojan (C&D Technologies and Trojan Battery Company)
- Industry
- Energy
- Location
- Pennsylvania, United States
- Type
- Buyout
Stryten Energy LLC has signed a definitive agreement to acquire C&D Technologies, Inc. and Trojan Battery Company, LLC (together, C&D Trojan). The deal is expected to close in Q3 2026 and will create a scaled, lead- and lithium-based energy storage manufacturing platform.
-
- Buyer
- Morgan Stanley Infrastructure Partners (MSIP), Pembina Pipeline Corporation, Kineticor Asset Management
- Target
- Greenlight Electricity Centre
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Funds managed by Morgan Stanley Infrastructure Partners (MSIP) invested in the Greenlight Electricity Centre, a 932-megawatt gas-fired combined cycle power generation project in Sturgeon County, Alberta. MSIP is investing alongside Pembina Pipeline Corporation and Kineticor Asset Management, with Pembina and MSIP each taking a 47.5% ownership stake and Kineticor taking the remaining 5%.
-
- Buyer
- I Squared Capital, Bear River Midstream LLC
- Target
- Spire Storage (natural gas storage businesses in Wyoming and Oklahoma)
- Seller
- Spire Inc.
- Industry
- Energy
- Location
- United States
- Type
- Buyout
Spire Inc. has completed the sale of its natural gas storage businesses in Wyoming and Oklahoma (“Spire Storage”) to I Squared Capital for $650 million. The sold assets will be rolled into I Squared’s portfolio company, Bear River Midstream LLC, with proceeds used to support Spire’s ongoing strategic focus and funding of its previously acquired Piedmont Natural Gas Tennessee business.
-
June 26, 2026
- Buyer
- KKR, HMC Capital
- Target
- HMC Energy Platform (to be rebranded as Illuma Energy), Illuma Energy (HMC Capital's energy platform)
- Industry
- Energy
- Location
- Australia
- Type
- Growth capital
HMC Capital announced it has received ACCC clearance and FIRB approval for its strategic partnership with KKR in the HMC Energy Platform. Financial close is expected on or around 30 June 2026, with KKR to invest up to $603 million and HMC’s invested capital reduced to approximately $190 million; the platform will be rebranded as Illuma Energy after integration of existing assets is complete.
-
- Buyer
- ARC Financial Corp.
- Target
- TERIC Power Ltd.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
ARC Financial Corp. has completed a strategic investment in TERIC Power Ltd. to support the company’s next phase of growth and expansion. The capital will be used to accelerate development, construction, and ownership of utility-scale battery energy storage projects across Canada.
-
- Buyer
- Sixth Street (certain funds managed by)
- Target
- Pinnacle Gas Services LLC
- Seller
- Comstock Resources, Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Growth capital
Comstock Resources sold a 27% non-controlling minority equity interest in its midstream subsidiary Pinnacle Gas Services LLC to certain funds managed by Sixth Street for $600 million. The investment values Pinnacle at a $2.2 billion enterprise value, while Comstock retained 73% controlling equity and continues to manage, operate, and control Pinnacle under a management services agreement.
-
- Buyer
- Stonepeak, Energy Equation Partners
- Target
- Anwim S.A.
- Industry
- Energy
- Location
- Poland
- Type
- Buyout
Stonepeak and Energy Equation Partners (EEP) have agreed to acquire Anwim S.A., Poland’s largest independent fuel marketer and owner of the MOYA station network. The deal is intended to extend the firms’ European fuel retail joint venture following their 2025 acquisition of a majority stake in JET Tankstellen Deutschland. Closing is expected in the second half of 2026, subject to customary regulatory approvals.
-
- Buyer
- Six One Commodities LLC, Pinnacle Asset Management, L.P. (backer of 61C)
- Target
- Great American Gas & Electric (GAGE)
- Seller
- Link Growth Advisers, LLC
- Industry
- Energy
- Location
- Connecticut, United States
- Type
- Buyout
Six One Commodities LLC (61C) has completed its acquisition of Great American Gas & Electric (GAGE) from Link Growth Advisers LLC. The deal expands 61C’s North American retail and integrated energy platform by bringing GAGE’s team, customer/broker relationships, systems, and infrastructure into 61C.
-
May 30, 2026
- Buyer
- Standard Solar
- Target
- Water Chestnut community solar project (3.9 MW), Hanoverian community solar project (4 MW)
- Seller
- EDF power solutions North America
- Industry
- Energy
- Location
- Maryland, United States
- Type
- Addon
Standard Solar announced the acquisition of two New York community solar projects from EDF power solutions North America, totaling approximately 8 MW: Water Chestnut (3.9 MW) and Hanoverian (4 MW). The projects received NYSERDA awards and are expected to complete in early 2027, expanding Standard Solar’s distributed solar footprint in one of the country’s most active community solar markets.
-
May 30, 2026
- Buyer
- Translational Development Acquisition Corp. (TDAC)
- Target
- ProLogium
- Industry
- Energy
- Location
- Taoyuan City, Taiwan
- Type
- Buyout
ProLogium, a next-generation solid-state battery developer, entered into a definitive business combination agreement with SPAC Translational Development Acquisition Corp. (TDAC) to take the company public on Nasdaq. The transaction values ProLogium at about $3.8 billion and is intended to fund expansion of 4th-generation battery production and construction of its gigafactory in Dunkirk, France (with a French government subsidy package).
-
- Buyer
- Hull Street Energy, LLC, Hull Street Energy
- Target
- FirstLight USA, LLC (FirstLight U.S. operations/portfolio)
- Seller
- PSP Investments (Public Sector Pension Investment Board)
- Industry
- Energy
- Location
- Massachusetts, United States
- Type
- Divestiture
PSP Investments has signed an agreement to sell the U.S. operations of FirstLight to private equity firm Hull Street Energy. The deal transfers a portfolio of about 1.4 GW of installed clean power capacity (hydroelectric generation, energy storage, and renewables) across Massachusetts, Connecticut, and Pennsylvania, while PSP will retain FirstLight’s Canadian operations. The transaction is subject to customary regulatory approvals and is expected to close later in 2026.
-
May 18, 2026
- Buyer
- Alpha Generation, LLC, ArcLight Capital Partners, LLC
- Target
- Brandywine Power
- Seller
- Onward Energy Holdings, LLC
- Industry
- Energy
- Location
- Maryland, United States
- Type
- Buyout
Alpha Generation (AlphaGen), together with ArcLight Capital Partners, completed the acquisition of Brandywine Power from Onward Energy Holdings. Brandywine is an approximately 250 MW combined-cycle generating facility in Prince George’s County, Maryland, strengthening AlphaGen’s capacity and reliability footprint in the Mid-Atlantic/PJM PEPCO Zone.
-
May 11, 2026
- Buyer
- VoltaGrid LLC, Blackstone Tactical Opportunities (funds managed by Blackstone), Halliburton Company
- Target
- Propell Energy Technology Ltd. and its affiliates, Propell Energy Technology Ltd., Propell Technologies Group Inc.
- Seller
- Existing investors (for the $225 million secondary purchase)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
VoltaGrid signed agreements for a $1.0 billion strategic equity investment led by funds managed by Blackstone Tactical Opportunities and Halliburton, including a $775 million primary capital raise and a $225 million secondary purchase. In addition, VoltaGrid signed a definitive agreement to acquire Propell Energy Technology Ltd. and its affiliates, a key supplier, to build a more vertically integrated behind-the-meter power generation platform.
-
- Buyer
- Strategic Value Partners, LLC (SVP)
- Target
- Birdsboro Power, LLC
- Seller
- Sojitz Birdsboro LLC, Tokyo Gas America Ltd.
- Industry
- Energy
- Location
- Pennsylvania, United States
- Type
- Buyout
Strategic Value Partners (SVP) signed a definitive agreement through its managed funds (the “SVP Funds”) to acquire the remaining equity interests in Birdsboro Power, LLC (“Birdsboro”), a 485-megawatt natural gas-fired combined-cycle generation facility in Birdsboro, Pennsylvania. The deal would bring Birdsboro under full SVP Fund ownership, following SVP’s initial one-third stake acquisition in May 2025 and its ongoing role as Managing Member alongside EverGen Power.
-
May 7, 2026
- Buyer
- Siris
- Target
- TAKKION
- Seller
- Apollo funds
- Industry
- Energy
- Location
- Wyoming, United States
- Type
- Buyout
Siris agreed to acquire a majority stake in renewable energy services provider TAKKION from Apollo funds. The transaction was subsequently completed, with Siris taking control of the business.
-
May 7, 2026
- Buyer
- Diversified Energy Company, Carlyle (Carlyle's Global Credit platform / Asset-Backed Finance)
- Target
- Bolt-on portfolio of oil and natural gas properties and related assets located in the Anadarko Basin of Oklahoma (the 'Assets')
- Seller
- Camino Natural Resources
- Industry
- Energy
- Location
- Oklahoma, United States
- Type
- Addon
Diversified Energy Company (NYSE: DEC) and Carlyle’s Global Credit platform have executed a purchase agreement to acquire a bolt-on portfolio of oil and natural gas properties and related assets in Oklahoma’s Anadarko Basin from Camino Natural Resources. The $1.175 billion transaction is financed via a bespoke asset-backed securitization (ABS) through a newly formed SPV, with Diversified funding about $210 million and expecting to close in Q3 2026.
-
- Buyer
- Strategic Value Partners, LLC (SVP) (SVP Funds), EverGen Power
- Target
- New Frontera Holdings, LLC (New Frontera Holdings / Frontera)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Strategic Value Partners’ managed funds (SVP Funds) acquired a majority of the equity interests in New Frontera Holdings, LLC (“Frontera”), a 530 MW natural gas-fired combined-cycle power plant in Mission, Texas. The deal is executed via SVP’s strategic partnership with EverGen Power, a platform formed in 2024 to acquire and operate critical power infrastructure across North America.
-
- 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.
-
- Buyer
- Ameresco, Inc., HA Sustainable Infrastructure Capital, Inc. (HASI)
- Target
- Neogenyx Fuels (new joint venture)
- Seller
- Ameresco's biofuels business (contributed into the JV)
- Industry
- Energy
- Location
- Massachusetts, United States
- Type
- Growth capital
Ameresco and HA Sustainable Infrastructure Capital (HASI) have signed an agreement to spin off Ameresco’s biofuels business into a newly formed joint venture, Neogenyx Fuels. The JV is valued at $1.8 billion post-money enterprise value, with Ameresco owning 70% and contributing its biofuels assets and capabilities, while HASI will invest $400 million (including $300 million into the JV) and receive a 30% stake.
-
- Buyer
- Mobius Renewables, IFM Investors
- Target
- Air Liquide biogas production activities (U.S., France, Norway, Sweden), Redo Biosolutions
- Seller
- Air Liquide, GreenGasUSA (brand referenced as operating under one brand; not clearly described as a seller), Skagerak Energi (remains a minority owner; referenced but not described as seller)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Mobius Renewables, backed by funds managed by IFM Investors, completed the acquisition of Air Liquide’s biogas production activities across the United States, France, Norway, and Sweden. The deal includes operating landfill gas-to-RNG sites in the U.S., farm waste digestion sites in France, and a 51% stake in Norway- and Sweden-based Redo Biosolutions.
-
- Buyer
- Arlington Capital Partners
- Target
- ENERCON, Pond & Company
- Seller
- Funds managed by Oaktree Capital Management, L.P. (Oaktree)
- Industry
- Energy
- Location
- Georgia, United States
- Type
- Buyout
Arlington Capital Partners acquired ENERCON, a specialized nuclear and highly regulated power engineering firm, from funds managed by Oaktree. As part of the transaction, ENERCON will merge with Arlington portfolio company Pond & Company and operate under the ENERCON name from Atlanta-area headquarters.
-
April 29, 2026
- Buyer
- Partners Group
- Target
- North Star, four offshore wind Service Operation Vessels (SOVs) acquired by North Star from Edda Wind
- Seller
- Edda Wind
- Industry
- Energy
- Location
- United Kingdom
- Type
- Growth capital
Partners Group has invested further equity in its UK-based portfolio company North Star to acquire four additional offshore wind Service Operation Vessels (SOVs) from Edda Wind, taking North Star’s SOV fleet to 14. The expansion is part of North Star’s strategy to scale offshore wind services in Europe and strengthen its customer offering and market presence.
-
- Buyer
- Stonepeak, Bernhard Capital Partners
- Target
- Cleco Group LLC, Cleco Power LLC
- Seller
- consortium including Macquarie Asset Management, British Columbia Investment Management Corporation (BCI), Manulife Investment Management
- Industry
- Energy
- Location
- Louisiana, United States
- Type
- Buyout
Stonepeak and Bernhard Capital Partners agreed to acquire Cleco Group LLC, a regulated Louisiana electric utility headquartered in Pineville, from a consortium led by Macquarie Asset Management and including BCI and Manulife Investment Management. The deal is subject to customary regulatory approvals, with Stonepeak expected to hold the majority interest upon close.
-
- Buyer
- I Squared Capital's Energy Transition Fund (ISQ ETIF), I Squared Capital
- Target
- Oriden
- Seller
- Mitsubishi Power Americas
- Industry
- Energy
- Location
- Pennsylvania, United States
- Type
- Buyout
I Squared Capital’s Energy Transition Fund (ISQ ETIF) acquired Oriden, a Pittsburgh-based renewable energy developer, from Mitsubishi Power Americas. I Squared plans to invest approximately $300 million to scale Oriden’s development pipeline and evolve it into a next-generation independent power producer with a more diversified asset base.
-
- Buyer
- Apollo Global Management
- Target
- Pembina Gas Infrastructure Inc. (PGI)
- Seller
- Funds managed by KKR 26 Co. Inc.
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Growth capital
Apollo Global Management is set to acquire a 40% stake in Pembina Gas Infrastructure Inc. (PGI), a Western Canadian natural gas processing and gathering platform. The stake is being purchased from funds managed by KKR, while Pembina Pipeline Corporation will retain 60% ownership and remain the majority partner with ongoing operational oversight.
-
April 21, 2026
- Buyer
- PowerTransitions, Partners Group
- Target
- Alliance Energy Group affiliates' portfolio of five operating power plants (Batavia, Hillburn, Massena, Shoemaker, Sterling) totaling 323 MW, Alliance Energy Group (affiliates)
- Seller
- Affiliates of Alliance Energy Group ("Alliance")
- Industry
- Energy
- Location
- New York, United States
- Type
- Addon
PowerTransitions entered into an agreement to acquire a portfolio of five operating thermal power plants totaling 323 MW from affiliates of Alliance Energy Group. The acquisition is intended to redevelop the legacy generation sites into new power generation, battery energy storage, and powered land sites for data centers and advanced manufacturers, marking PowerTransitions’ entry into New York. The transaction was signed on January 30, 2026 and is expected to close later in 2026, subject to customary conditions and regulatory approvals.
-
April 15, 2026
- Buyer
- Progeny 3, Inc., Intrepid Investment Management, LLC
- Target
- Cadre Energy Solutions, LLC
- Industry
- Energy
- Location
- Texas, United States
- Type
- Growth capital
Cadre Energy Solutions, LLC raised additional equity capital to accelerate its growth in contract natural gas compression services. Progeny 3, Inc. joined existing equity partner Intrepid Investment Management, LLC to fund fleet expansion and pursue additional strategic opportunities.
-
- Buyer
- North Hudson Resource Partners LP
- Target
- Hawthorne Energy LLC (HWN Energy Ltd. / HWN)
- Industry
- Energy
- Location
- Alberta, Canada
- Type
- Buyout
North Hudson Resource Partners LP (and affiliated funds) acquired Hawthorne Energy LLC, operating in Canada through wholly owned subsidiary HWN Energy Ltd. The deal excludes a subset of HWN’s southern Cardium-focused assets that were spun out prior to close. HWN will continue to be led by its existing management team, including CEO John Oberg and SVP of Engineering Marc Shatzer.
-
April 14, 2026
- Buyer
- BridgePeak Energy Capital
- Target
- ACT Power Services
- Industry
- Energy
- Location
- North Carolina, United States
- Type
- Buyout
ACT Power Services, a solar and battery energy storage operations and maintenance (O&M) provider, was acquired by a group of strategic investors led by BridgePeak Energy Capital. The transaction was completed via a Chapter 11 bankruptcy acquisition, with closing finalized on January 31, 2026 following a Chapter 11 auction and U.S. Bankruptcy Court approval.
-
- Buyer
- CB1
- Target
- Petrofac Asset Solutions (Asset Solutions business)
- Seller
- Petrofac (secured creditors via existing agreements)
- Industry
- Energy
- Type
- Divestiture
CB1 completed its previously announced acquisition of Petrofac’s Asset Solutions business, which provides operations, maintenance, wells, and decommissioning services for onshore and offshore energy assets. The deal adds approximately 3,000 employees to CB1 and expands its integrated energy services capabilities, including a reimbursable contracting business expected to deliver more predictable cash flow.
-
- Buyer
- Ara Partners
- Target
- Sedron Technologies, LLC
- Industry
- Energy
- Location
- Indiana, United States
- Type
- Growth capital
Ara Partners announced an investment of up to $500 million in Sedron Technologies to accelerate its waste upcycling projects and expand manufacturing and deployment capabilities across North America. Sedron’s Varcor technology converts municipal biosolids and agricultural manure into reclaimed water, renewable energy, and carbon-negative fertilizer products.
-
April 9, 2026
- Buyer
- Canada Growth Fund Inc. (CGF), Eni S.p.A., Investissement Québec (IQ), Export Development Canada (EDC), Canada Infrastructure Bank (CIB)
- Target
- Nouveau Monde Graphite Inc.
- Industry
- Energy
- Location
- Quebec, Canada
- Type
- Growth capital
Canada Growth Fund Inc. (CGF) entered into a definitive agreement for an approximately US$82 million private placement to support the construction and phased development of Nouveau Monde Graphite Inc.’s flagship Matawinie Mine and related refining facility. The equity financing is part of a larger ~US$633 million package and will be complemented by investments from Eni S.p.A. and Investissement Québec, as well as a concurrent bought-deal public offering of subscription receipts.
-
April 6, 2026
- Buyer
- Energy Capital Partners (ECP)
- Target
- EnergySolutions
- Seller
- TriArtisan Capital Advisors LLC
- Industry
- Energy
- Location
- Utah, United States
- Type
- Buyout
Energy Capital Partners (ECP) announced a definitive agreement to acquire EnergySolutions, a nuclear lifecycle services provider, from TriArtisan Capital Advisors. The deal is expected to close in 2026 and is subject to customary regulatory approvals. Financial terms were not disclosed in the main announcement.
-
April 3, 2026
- Buyer
- TSG Solutions, HLD, entrepreneurial investment group
- Target
- Powertek Utilities, Van der Heijden
- Industry
- Energy
- Location
- United Kingdom
- Type
- Addon
TSG (with support from HLD) continues its European acquisition strategy with two targeted deals: it is integrating Powertek Utilities in the United Kingdom and Van der Heijden in the Netherlands. The acquisitions broaden TSG’s capabilities in electrification, networks, and industrial infrastructure to better serve the energy-transition market.
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