Energy Acquisitions in 2022
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December 28, 2022
- Buyer
- Majors Management, LLC
- Target
- Davis Oil Co.
- Seller
- Owners and management of Davis Oil Co.
- Industry
- Energy
- Location
- Michigan, United States
- Type
- Buyout
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.
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December 27, 2022
- Buyer
- ProFrac Holding Corp.
- Target
- REV Energy Holdings, LLC, Performance Proppants (Performance Holdings I, LLC and Performance Holdings II, LLC), Eagle Ford sand mining operations of Monarch Silica, LLC
- Seller
- Performance Holdings I, LLC, Performance Holdings II, LLC, Monarch Silica, LLC
- Industry
- Energy
- Location
- United States
- Type
- Buyout
ProFrac Holding Corp. (NASDAQ: ACDC) announced it closed the previously announced acquisition of the Eagle Ford sand mining operations of Monarch Silica and entered agreements to acquire REV Energy Holdings, LLC for $140 million and Performance Proppants (Performance Holdings I, LLC and Performance Holdings II, LLC) for $475 million in cash. The transactions expand ProFrac’s pressure pumping footprint in the Rockies and South Texas and materially grow its in-basin proppant capacity in the Haynesville as part of a vertical-integration strategy.
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December 22, 2022
- Buyer
- Qualus Corporation
- Target
- Tri Sage Consulting
- Industry
- Energy
- Location
- Nevada, United States
- Type
- Buyout
Qualus Corporation has acquired Tri Sage Consulting, a power engineering and project management firm focused on high-voltage grid interconnection and renewable projects in the western United States. The acquisition expands Qualus' western U.S. footprint and renewables capability, combining Tri Sage's technical resources with Qualus' planning, design, and field services to support grid modernization and the energy transition.
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December 20, 2022
- Buyer
- EQT Infrastructure VI
- Target
- Madison Energy Investments
- Seller
- Affiliates of Stonepeak Partners LP
- Industry
- Energy
- Location
- Virginia, United States
- Type
- Buyout
EQT Infrastructure VI has agreed to acquire Madison Energy Investments (MEI) from affiliates of Stonepeak Partners. EQT will provide growth capital and digital/operational support to expand MEI's deployment of distributed solar and energy storage projects across the United States.
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December 7, 2022
- Buyer
- Hover Energy
- Target
- Shine Development Partners
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Hover Energy has acquired Shine Development Partners to integrate solar, storage and project development capabilities into its Wind-Powered Microgrid offering. The acquisition brings Shine's project development, financing and operations experience in commercial and industrial solar and storage to support Hover's commercialization and global rollout of its microgrid technology.
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- Buyer
- Blackstone, Rivean Capital
- Target
- Esdec Solar Group B.V.
- Seller
- Rivean Capital, Existing shareholders (including management)
- Industry
- Energy
- Location
- Overijssel, Netherlands
- Type
- Growth capital
Blackstone (through Blackstone Energy Partners and Blackstone private equity) and Rivean Capital have completed a strategic investment in Esdec Solar Group B.V., the Deventer-headquartered global leader in rooftop solar mounting systems. The transaction sees Rivean partly realise its original investment while re-investing via a continuation fund; the backing is intended to accelerate Esdec's international growth and consolidation in rooftop solar.
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December 1, 2022
- Buyer
- Dead River Company
- Target
- Maine Energy Company
- Seller
- Robert Cort / Cort family
- Industry
- Energy
- Location
- Maine, United States
- Type
- Addon
Dead River Company acquired Maine Energy Company in September, marking the end of three generations of family ownership after owner Robert Cort’s retirement. The acquisition is an add-on to Dead River’s regional heating-fuel platform (which is PE-backed by Redwood Capital Investments) and will rebrand Maine Energy offices under the Dead River name while consolidating local heating oil and propane operations in the Bangor area.
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November 15, 2022
- Buyer
- Ara Partners
- Target
- Lincoln Terminal Holdings, LP
- Industry
- Energy
- Location
- South Carolina, United States
- Type
- Buyout
Ara Partners has acquired a majority ownership interest in Lincoln Terminal Holdings, LP, a Greenville, South Carolina-based provider of renewable fuel rail transloading and storage facilities. Ara committed additional capital to support significant expansion of Lincoln's renewable fuel infrastructure footprint across the Southeast and Mid-Atlantic United States.
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November 15, 2022
- Buyer
- BlackRock Alternatives (Diversified Infrastructure business, part of BlackRock Alternatives)
- Target
- Jupiter Power LLC
- Seller
- EnCap Energy Transition Fund I, Yorktown Partners, Mercuria Energy
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
BlackRock Alternatives’ Diversified Infrastructure business agreed to acquire Jupiter Power LLC, a U.S. developer and operator of stand-alone utility-scale battery energy storage systems. EnCap Energy Transition Fund I, along with co-investment partners Yorktown Partners and Mercuria Energy, are selling Jupiter, with closing expected in late 2022 subject to customary conditions.
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November 15, 2022
- Buyer
- AIS, Growth Capital Partners (GCP)
- Target
- CRP Subsea
- Industry
- Energy
- Location
- England, United Kingdom
- Type
- Addon
AIS, a GCP-backed engineering and manufacturing group, has acquired CRP Subsea, a Skelmersdale-based specialist in polymer and syntactic foam buoyancy and protection products. The deal is an add-on to AIS’s platform that expands its subsea and offshore-wind capabilities and increases scale across the offshore energy and oil & gas markets.
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- Buyer
- TLG Acquisition One Corp.
- Target
- Electriq Power Holdings Inc.
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Electriq Power Holdings Inc., an intelligent energy storage and management provider for homes and small businesses, entered into a definitive merger agreement with TLG Acquisition One Corp. (TLGA), a publicly traded SPAC. The transaction values Electriq at a pro forma pre-money equity value of $495 million and is expected to provide up to $125 million in capital, with the combined company to be listed on the NYSE under ticker ELIQ in the first half of 2023.
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November 9, 2022
- Buyer
- Ara Partners
- Target
- CF Pathways
- Industry
- Energy
- Location
- England, United Kingdom
- Type
- Growth capital
Ara Partners, a private equity and infrastructure firm focused on industrial decarbonization, has made a strategic equity investment in CF Pathways to accelerate the company's growth. The funding will support CF Pathways — a UK-based provider of net-zero solutions, energy supply (via Brook Green Supply) and carbon-market services to large industrial and commercial customers — in developing software and data capabilities and expanding its energy transition product offering.
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November 9, 2022
- Buyer
- Pineapple Energy Inc.
- Target
- SUNation Energy
- Industry
- Energy
- Location
- New York, United States
- Type
- Buyout
Pineapple Energy Inc. acquired SUNation Energy, a Long Island-based solar and battery storage installer, in a transaction that closed on November 9, 2022. The deal expands Pineapple's footprint into the northeastern United States, adding SUNation's ~19-year regional business, ~12,000 serviced PV systems and ~$48 million of trailing twelve-month revenue to Pineapple's nationwide solar and storage platform.
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November 9, 2022
- Buyer
- Majors Management, LLC
- Target
- K&H Truck Plaza
- Seller
- K&H (Andrew Herscher, president and part owner)
- Industry
- Energy
- Location
- Illinois, United States
- Type
- Divestiture
Majors Management, LLC has acquired the K&H Truck Plaza in Gilman, Illinois, marking the company's first acquisition in Illinois and an expansion into truck stops and travel centers. The 12-acre BP-branded facility includes a truck repair shop, restaurant, convenience store, Dunkin' franchise and Tesla EV charging; seller was K&H (owned/operated by Andrew Herscher).
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November 8, 2022
- Buyer
- Alberta Investment Management Corporation (AIMCo)
- Target
- Howard Energy Partners
- Seller
- Astatine Investment Partners (formerly Alinda Capital Partners)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Alberta Investment Management Corporation (AIMCo) has acquired Astatine Investment Partners' stake in Howard Energy Partners, increasing AIMCo's ownership to 87%. Howard Energy Partners' management and other minority investors will retain a combined 13% stake; terms were not disclosed.
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- Buyer
- Bowman Consulting Group Ltd.
- Target
- SEI Engineering, LLC (SEI Professional Services)
- Industry
- Energy
- Location
- Colorado, United States
- Type
- Buyout
Bowman Consulting Group Ltd. (Bowman) has acquired SEI Engineering, LLC (operating as SEI Professional Services), a Paonia, Colorado-based provider of engineering, design and commissioning services for utility and commercial-scale solar and battery storage projects. The deal, financed with cash and seller notes, is expected to add approximately $1.5 million of annualized net service billing and strengthen Bowman's renewable energy planning, engineering and commissioning capabilities.
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November 7, 2022
- Buyer
- Mesquite Technologies Inc., Houston Ventures
- Target
- OspreyData Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Mesquite Technologies, an Austin-based artificial lift equipment and services provider, has acquired OspreyData, a machine-learning production optimization software company now headquartered in Austin. The deal will integrate OspreyData's production-optimization platform into Mesquite's Taproot intelligent control product line and is being supported by an investment round led by Houston Ventures to accelerate integration and product development.
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November 3, 2022
- Buyer
- Voyager Interests
- Target
- Knight Energy Services
- Seller
- Clearlake Capital Group
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Voyager Interests, a Houston-based private equity firm focused on energy services, has acquired Knight Energy Services from Clearlake Capital Group. Knight, headquartered in Houston with 17 U.S. locations, provides rental tools and equipment for drilling, completions, production and decommissioning; financial terms were not disclosed.
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November 1, 2022
- Buyer
- ProPetro Holding Corp.
- Target
- Silvertip Completion Services Operating, LLC
- Seller
- New Silvertip Holdco, LLC
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
ProPetro Holding Corp. (NYSE: PUMP) has acquired Silvertip Completion Services Operating, LLC, a Midland, Texas-based provider of wireline perforating and pumpdown services focused on the Permian Basin. The transaction consideration included 10.1 million shares of ProPetro common stock, $30 million cash and the payoff of approximately $7 million of debt, implying a value of about $150 million; management expects the acquisition to be immediately accretive and to materially boost 2023 adjusted EBITDA and free cash flow.
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November 1, 2022
- Buyer
- ProFrac Holding Corp.
- Target
- U.S. Well Services, Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
ProFrac Holding Corp. (NASDAQ: PFHC) closed its stock-for-stock merger to acquire U.S. Well Services, Inc. (NASDAQ: USWS). The deal issued approximately 12.9 million ProFrac shares and included using cash to retire about $170 million of USWS debt, leaving about $35 million of certain equipment financing outstanding.
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October 31, 2022
- Buyer
- Critical Metals Corp., Sizzle Acquisition Corp., European Lithium Ltd
- Target
- European Lithium AT (Investments) Limited, European Lithium Ltd
- Industry
- Energy
- Location
- Carinthia, Austria
- Type
- Buyout
Critical Metals Corp., expected to be formed from a business combination between Critical Metals’ owners and Sizzle Acquisition Corp., entered into a definitive agreement with European Lithium and its subsidiary European Lithium AT (Investments) Limited. Upon closing, Critical Metals will own European Lithium’s Wolfsberg Lithium Project and acquire a 20% interest in additional Austrian lithium projects, with Critical Metals intended to list on Nasdaq under ticker “CRML.”
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October 24, 2022
- Buyer
- Grey Rock Investment Partners, Executive Network Partnering Corporation (ENPC), Granite Ridge Resources, Inc.
- Target
- Granite Ridge Resources, Inc.
- Seller
- Grey Rock's Fund I, Grey Rock's Fund II, Grey Rock's Fund III, Grey Rock funds and/or their limited partners (as referenced in transaction details)
- Industry
- Energy
- Location
- United States
- Type
- Buyout
Grey Rock Investment Partners and Executive Network Partnering Corporation (ENPC) completed a previously announced business combination to form publicly traded Granite Ridge Resources, Inc. Granite Ridge will operate as a scaled, non-operated oil and gas exploration and production company, acquiring non-operated working interests previously held in Grey Rock’s Fund I–III portfolios, while Grey Rock continues to provide management support under a long-term services agreement.
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October 18, 2022
- Buyer
- Priority Power Management, Inc.
- Target
- AB Power Advisors
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Priority Power Management, Inc. has acquired AB Power Advisors, a Texas-based regulatory advisory and renewable energy offtake consulting firm. The acquisition expands Priority Power’s regulatory coverage and renewable origination capabilities in the ERCOT market and establishes an Austin office to deepen its presence in Texas.
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October 17, 2022
- Buyer
- bp
- Target
- Archaea Energy Inc.
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
Archaea Energy agreed to be acquired by bp for approximately $4.1 billion enterprise value, or about $26 per share in cash, including approximately $800 million of net debt. The deal is subject to regulatory and Archaea shareholder approval, with the parties targeting closing by the end of 2022, and Archaea shareholders holding about 27% agreeing to vote in favor.
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October 12, 2022
- Buyer
- PosiGen
- Target
- New England Conservation Services (NECS)
- Industry
- Energy
- Location
- Connecticut, United States
- Type
- Buyout
PosiGen, a residential solar and energy-efficiency provider, has acquired New England Conservation Services (NECS), Connecticut's longest-running residential energy-efficiency provider. The acquisition brings NECS's 18-member team and program qualifications in-house, enabling PosiGen to deliver faster energy-efficiency upgrades across Connecticut and expand its combined solar-plus-efficiency offering for low-to-moderate income households.
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- Buyer
- Global Infrastructure Partners
- Target
- Atlas Renewable Energy
- Seller
- Actis
- Industry
- Energy
- Location
- Florida, United States
- Type
- Buyout
Global Infrastructure Partners (GIP) has completed the acquisition of Atlas Renewable Energy from Actis. Atlas is a leading Latin American renewables developer with 14 fully contracted solar assets (2.3 GW) across Brazil, Chile, Mexico and Uruguay; GIP said the deal expands its renewables platform and regional presence.
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October 10, 2022
- Buyer
- Edison Energy (d/b/a Altenex Energy)
- Target
- Alfa Energy Ltd.
- Industry
- Energy
- Location
- United Kingdom
- Type
- Buyout
Edison Energy (d/b/a Altenex Energy in Europe) has acquired UK-based energy and sustainability consultancy Alfa Energy Ltd. The acquisition expands Edison’s European footprint and combines the firms’ advisory, procurement and decarbonization capabilities to better serve large corporate, industrial and institutional clients across Europe.
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October 10, 2022
- Buyer
- ReneSola Ltd (ReneSola Power)
- Target
- Emeren Limited
- Industry
- Energy
- Location
- United Kingdom
- Type
- Buyout
ReneSola Ltd (ReneSola Power) completed an all-cash acquisition of Emeren Limited, a United Kingdom-based developer of utility-scale solar and battery storage projects, on October 10, 2022. The deal adds Emeren’s ~2.5 GW development pipeline and development expertise in Italy and other European markets to ReneSola’s European growth strategy.
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- Buyer
- Longbow Capital Inc. (affiliated funds)
- Target
- Amped Up Power Solutions, Inc.
- Industry
- Energy
- Location
- Colorado, United States
- Type
- Growth capital
Affiliated funds of Longbow Capital Inc. closed an investment in Amped Up Power Solutions, acquiring debentures, rights to purchase additional debentures, and an equity kicker that results in a substantial minority stake. The financing will support Amped Up’s deployment of cleaner on-site power and microgrid integrations for oil and gas well sites as customers shift away from diesel power.
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- Buyer
- Sky Quarry Inc.
- Target
- Foreland Refining Corporation
- Industry
- Energy
- Location
- Nevada, United States
- Type
- Buyout
Sky Quarry Inc. has acquired Foreland Refining Corporation, including the Eagle Springs refinery near Ely, Nevada. The purchase gives Sky Quarry a refinery asset to vertically integrate its process for producing sustainable diesel and other petroleum products from waste asphalt shingles and heavy oil feedstocks, and is expected to be immediately accretive to cash flow and EBITDA.
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September 30, 2022
- Buyer
- Sval Energi AS
- Target
- Suncor Energy Norge AS, Equinor interests in the Martin Linge Unit and the Greater Ekofisk Area (licenses/participating interests)
- Seller
- Suncor Energy, Equinor
- Industry
- Energy
- Location
- Norway
- Type
- Buyout
Privately owned Sval Energi has completed acquisitions that strengthen its portfolio on the Norwegian Continental Shelf, including the purchase of Suncor Energy Norge AS and stakes acquired from Equinor in the Martin Linge Unit and Greater Ekofisk Area. The transactions add roughly 34,000 boe/d of production overall and transfer about 16 Suncor Norway employees to Sval while increasing Sval's reserves and operated positions in multiple fields.
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September 28, 2022
- Buyer
- CENAQ Energy Corp.
- Target
- Bluescape Clean Fuels Intermediate Holdings, LLC, Bluescape Clean Fuels Intermediate Holdings, LLC (BCF)
- Industry
- Energy
- Location
- United States
- Type
- Buyout
Bluescape Clean Fuels Intermediate Holdings, LLC (BCF) is expected to merge with special purpose acquisition company CENAQ Energy Corp. (NASDAQ: CENQ). The combined company will be renamed Verde Clean Fuels, Inc. and is expected to become publicly listed on the Nasdaq under the ticker symbol “VGAS,” with an anticipated closing in the first quarter of 2023.
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September 22, 2022
- Buyer
- M6 Midstream LLC (Momentum)
- Target
- Align Midstream Partners II, LLC
- Seller
- Tailwater Capital LLC
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
M6 Midstream LLC (Momentum) has acquired Align Midstream Partners II, LLC from Tailwater Capital; financial terms were not disclosed. The acquisition expands Momentum's footprint in the Haynesville Shale as it also closed the Midcoast ETX deal and reached final investment decision on its NG3 gathering and carbon capture project to serve Gulf Coast and LNG markets.
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September 15, 2022
- Buyer
- Column Capital Corp.
- Target
- Largo Physical Vanadium Corp. (LPV)
- Seller
- None mentioned
- Industry
- Energy
- Location
- Canada
- Type
- Addon
Largo announced that Column Capital Corp. (CPC) received conditional TSX Venture Exchange approval for its qualifying transaction with Largo Physical Vanadium (LPV) under the TSXV Capital Pool Companies policy. Following receipt of customary post-closing documentation, LPV’s common shares were set to commence trading on the TSXV under the symbol “VAND,” with LPV initially holding about 200 metric tons of vanadium pentoxide equivalent contributed by Largo and additional vanadium purchased using proceeds from a CAD$30.22 million subscription receipt financing.
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September 14, 2022
- Buyer
- Energywell, LLC
- Target
- Engie Retail, LLC d/b/a Think Energy
- Seller
- Engie Retail, LLC (ENGIE)
- Industry
- Energy
- Location
- Connecticut, United States
- Type
- Buyout
Energywell, an energy technology company backed by funds managed by Oaktree Capital Management and Hartree Partners, has signed a purchase and sale agreement to acquire Engie Retail, LLC d/b/a Think Energy. The acquisition (subject to FERC approval) expands Energywell's retail footprint across 13 states and Washington, D.C., and will enable rapid deployment of Energywell's Proton platform across the Think Energy customer base.
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September 12, 2022
- Buyer
- bp
- Target
- EDF Energy Services
- Industry
- Energy
- Location
- Texas, United States
- Type
- Buyout
bp has agreed to purchase EDF Energy Services (EDF ES), a Houston-based supplier of power, natural gas and related services to commercial and industrial customers across the United States. The acquisition brings EDF ES's full retail operating capabilities into bp, enhancing bp's ability to deliver integrated energy and lower-carbon solutions to large C&I and public-sector customers in the U.S.
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- Buyer
- LOTO Energy II, LLC, WMC Merger Sub, Inc.
- Target
- Western Metals Corporation
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Western Metals Corporation (WTLC) closed its previously announced tender offer and subsequent merger with LOTO Energy II, LLC. LOTO Energy II purchased shares in the tender and then merged Western Metals into a wholly owned Merger Sub, with remaining unaffiliated shares converted into the right to receive $0.44 per share in cash.
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September 7, 2022
- Buyer
- Hecla Mining Company
- Target
- Alexco Resource Corp.
- Seller
- Alexco Resource Corp. shareholders
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Buyout
Hecla Mining Company completed its acquisition of Alexco Resource Corp., issuing approximately 17.99 million Hecla shares to Alexco shareholders and providing a secured loan facility. The deal also terminated the Wheaton Precious Metals streaming interest at Alexco's Keno Hill property in exchange for Hecla common stock; Hecla said the acquisition will expand its silver production and add the Keno Hill operation in the Yukon to its portfolio.
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- Buyer
- Sitio Royalties Corp., Brigham Minerals, Inc.
- Target
- Sitio Royalties Corp., Brigham Minerals, Inc.
- Industry
- Energy
- Location
- Colorado, United States
- Type
- Buyout
Sitio Royalties Corp. and Brigham Minerals, Inc. entered into a definitive all-stock merger agreement valued at approximately $4.8 billion. The combined company is expected to be a premier consolidator of oil and gas mineral and royalty interests, with headquarters in Denver, Colorado and anticipated cost synergies.
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September 6, 2022
- Buyer
- Catalyst Power Holdings LLC, BP Energy Partners, LLC
- Target
- Northeast Expense Reduction Services
- Seller
- Northeast Expense Reduction Services
- Industry
- Energy
- Location
- New York, United States
- Type
- Addon
Catalyst Power Holdings LLC, a BP Energy Partners-backed provider of cleaner energy solutions, acquired the assets of New York-based energy advisor Northeast Expense Reduction Services. The add-on expands Catalyst Power's commercial and industrial customer reach and supplier relationships in Central and Western New York to support its community solar and Connected Microgrid decarbonization offerings.
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September 6, 2022
- Buyer
- FLEETCOR Technologies, Inc.
- Target
- Plugsurfing, Zap-Map
- Industry
- Energy
- Location
- Berlin, Germany
- Type
- Buyout
FLEETCOR Technologies acquired Plugsurfing, a European EV charging software and roaming network provider, and separately made a strategic investment in UK-based Zap-Map. The moves expand FLEETCOR's EV capabilities—adding charging network access, driver apps, payment and white‑label solutions—to better serve fleets, OEMs and charge point operators across Europe.
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- Buyer
- Hearthstone Holdings, Inc., Ullico Infrastructure Fund (UIF)
- Target
- Hope Gas, Inc.
- Seller
- Dominion Energy, Inc.
- Industry
- Energy
- Location
- West Virginia, United States
- Type
- Addon
Hearthstone Holdings, a portfolio company of Ullico Infrastructure Fund (UIF), closed the acquisition of 100% of Hope Gas, Inc. from Dominion Energy. Hearthstone will move its headquarters to Morgantown, West Virginia, plans to hire roughly 100 additional employees, and intends to leverage local natural gas resources to expand service to more customers across the state.
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- Buyer
- Vital Battery Metals Inc.
- Target
- Sting Copper Project
- Seller
- Optionors (unnamed)
- Industry
- Energy
- Location
- Newfoundland and Labrador, Canada
- Type
- Buyout
Vital Battery Metals Inc. has entered into an option agreement to acquire a 100% interest in the Sting Copper Project, a ~30.6 km² land package located about 14 km south of Trout River in Newfoundland and Labrador, Canada. Under the agreement Vital will pay CAD 90,000, issue 5,000,000 common shares and complete staged exploration expenditures; the optionors retain a 2% NSR (with Vital able to buy 1% for CAD 1.5 million).
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August 23, 2022
- Buyer
- Priority Power Management, Inc.
- Target
- Affordable Gas & Electric Company, LLC (AGE)
- Seller
- Affordable Gas & Electric Company, LLC (AGE)
- Industry
- Energy
- Location
- Illinois, United States
- Type
- Divestiture
Priority Power Management, Inc. has acquired the energy procurement, consulting and solar development business of Affordable Gas & Electric Company, LLC (AGE). The acquisition expands Priority Power's footprint in the Midwest and bolsters its solar development capabilities; AGE's business serves hundreds of municipalities and more than 125,000 residential and 1,000 commercial customers.
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August 18, 2022
- Buyer
- ABM
- Target
- RavenVolt, Inc.
- Industry
- Energy
- Location
- Georgia, United States
- Type
- Buyout
ABM has entered into a definitive agreement to acquire RavenVolt, Inc., a Georgia-based provider of turn-key microgrid systems, for $170 million in cash at closing plus up to $280 million in post-closing earn-outs (maximum total purchase price of $450 million). The acquisition expands ABM's Technical Solutions and eMobility capabilities, adds microgrid design, installation and branded generator/switchgear product offerings, and is expected to close in ABM's fourth fiscal quarter of 2022 subject to HSR clearance.
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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.
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- Buyer
- Alpha Copper Corp.
- Target
- CAVU Energy Metals Corp.
- Industry
- Energy
- Location
- British Columbia, Canada
- Type
- Buyout
Alpha Copper Corp. entered a non-binding letter of intent to acquire all issued and outstanding shares of CAVU Energy Metals Corp. in an all-stock transaction (0.7 Alpha shares per CAVU share) that values CAVU at roughly $0.33 per share (≈60% premium). The combined company will consolidate copper-focused exploration assets across British Columbia and the Yukon, subject to due diligence, shareholder and exchange approvals.
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August 16, 2022
- Buyer
- Pivot Energy, ECP (Energy Capital Partners)
- Target
- SGC Power
- Industry
- Energy
- Location
- Maryland, United States
- Type
- Buyout
Pivot Energy, a Denver-based renewable energy developer owned by Energy Capital Partners (ECP), has acquired SGC Power, a Maryland-based community solar developer. SGC Power will operate as a business unit under the Pivot brand, helping Pivot expand its community solar development capabilities and national footprint.
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August 11, 2022
- Buyer
- Kinder Morgan, Inc.
- Target
- North American Natural Resources, Inc., North American Biofuels, LLC, North American-Central, LLC
- Industry
- Energy
- Location
- Michigan, United States
- Type
- Buyout
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.
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August 10, 2022
- Buyer
- Wallbox
- Target
- COIL Inc.
- Industry
- Energy
- Location
- California, United States
- Type
- Buyout
Wallbox (NYSE:WBX) has acquired COIL Inc., a U.S.-based end-to-end EV charging installation services provider, to integrate installation, maintenance, engineering and software-enabled quoting capabilities into its North American offerings. The acquisition strengthens Wallbox's ability to deliver turnkey residential, commercial and DC fast-charging projects and expands its service footprint across the United States.
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