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    Power & Energy Q1 2021

    Q1 2021 Power Energy

    M&A Transaction Trends

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • TC PipeLines, LP
    • TC Energy Corporation
    • $3,938.23
    • Centrica Us Holdings Inc. and Direct Energy Marketing Limited
    • NRG Energy, Inc.
    • $3,625.00
    • Trippe Manufacturing Company
    • Eaton Corporation plc
    • $1,650.00
    • WGP Holdings II, LLC
    • ContourGlobal plc
    • $837.00
    • Competitive Power Ventures Power Business
    • Poalim Ventures Ltd., Migdal Insurance and Financial Holdings Ltd., Clal Insurance Enterprises Holdings Ltd., and OPC Energy Ltd.
    • $743.00
    • GridLiance Holdco, LP
    • NextEra Energy Transmission, LLC
    • $660.00
    • Weir Oil & Gas, Inc.
    • Caterpillar Inc.
    • $405.00
    • Pine Run Midstream, LLC
    • Pine Run Gathering LLC
    • $205.00
    • Solar and Storage Projects
    • SDCL Energy Efficiency Income Trust Plc, Sustainable Development Capital LLP, and Asset Management Arm
    • $150.00
    • Crude Oil Terminals of Blueknight Energy Partners
    • Enbridge Inc.
    • $132.00

     

    Source S&P Capital IQ as of 4/12/2021 and PCE Proprietary Data

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    Melissa Ritter

     

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    Michael Rosendahl

     

    Michael Rosendahl

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    mrosendahl@pcecompanies.com

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    Will Stewart

     

    Will Stewart

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    whitcomb-woody

     

    Woody Whitcomb

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    407-621-2113 (direct)

    wwhitcomb@pcecompanies.com

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    Michael Poole

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    mpoole@pcecompanies.com

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    Paul Vogt

    Valuation

    Atlanta Office

    678-641-4760 (direct)

    pvogt@pcecompanies.com

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    Mackenzie Moran

     

    Mackenzie Moran

    Investment Banking

    New York Office

    201-444-6280 Ext 3 (direct)

    mmoran@pcecompanies.com

    Connect
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    Isabel Carta

     

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    Investment Banking

    Orlando Office

    407-621-2149 (direct)

    icarta@pcecompanies.com

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    Philipp Seubert

     

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    New York Office

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    pseubert@pcecompanies.com

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    Pearl-Rachel 667 x 667

     

    Rachel Pearl

    Valuation

    Orlando Office

    407-621-2140 (direct)

    rpearl@pcecompanies.com

    Connect
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    R Winston 667 x 667

     

    Richard Winston

    Valuation

    Atlanta Office

    404-994-4650 (direct)

    rwinston@pcecompanies.com

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    Thomas Harrington

     

    Thomas Harrington

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    tharrington@pcecompanies.com

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    Data Assumptions

    This report represents transaction activity as mergers & acquisitions, consolidations, restructurings and spin-offs. Targets are defined as U.S. Based companies with either foreign or U.S. based buyers. Transaction information provided is based on closed dates only.

    Glossary

    EBIT - Earnings Before Interest and Taxes
    EBITDA - Earnings Before Interest, Taxes, Depreciation, Amortization
    LTM - Last Twelve Months
    TEV - Total Enterprise Value

    Sources:

    1. “More Oil and Gas Companies Leaning into Renewable Energy Tech.” World Oil - Upstream News, 26 Jan 2021.
    2. Jan 4, 2021 by POWER. “Power Sector Faces Continued Financial Distress in 2021.” POWER Magazine, 4 Jan. 2021.
    3. “NRG Completes $3.6B Acquisition of Direct Energy.” Power Engineering, 5 Jan. 2021.
    4. Mar 16, 2021 by Aaron Larson. “Solar Industry Adds Record Capacity in 2020 despite Pandemic.” POWER Magazine, 16 Mar. 2021.
    5. “Biofuels Producer Expands Facility.” Biofuels International, 22 Feb. 2021.
    6. Vosper, Paul. “Council Post: Mass Adoption Of Electric Vehicles Triggers Needed Infrastructure Changes.” Forbes, Forbes Magazine, 26 Jan. 2021.
    7. “U.S. Energy Information Administration - EIA - Independent Statistics and Analysis.” Short-Term Energy Outlook - U.S. Energy Information Administration (EIA).

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