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    Power & Energy Q1 2022

    Q1 2022 Power Energy

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Phillips 66 Partners LP
    • Phillips 66 Company; Phillips 66 Project Development Inc.
    • $2,961.21
    • Arkansas and Oklahoma gas distribution assets of CenterPoint Energy, Inc.
    • Summit Utilities, Inc.
    • $2,150.00
    • Oasis Midstream Partners LP
    • Crestwood Equity Partners LP
    • $1,837.45
    • Fossil Fuel Electric Generating Assets located in New Jersey and Maryland of PSEG Power LLC
    • ArcLight Capital Partners, LLC
    • $1,370.00
    • Sinclair Transportation Company
    • Holly Energy Partners, L.P.
    • $744.13
    • New York American Water Company, Inc.
    • Liberty Utilities Co.
    • $608.00

    Other Financial Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Mill Street Solar Project
    • Sunwealth Power, LLC
    • n/a
    • AL Pierce Generation facility of Connecticut Municipal Electric Energy Cooperative
    • Hull Street Energy, LLC
    • n/a

    Other Strategic Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Nuverra Environmental Solutions, Inc.
    • Select Energy Services, Inc.
    • $55.98
    • Dawson Geophysical Company
    • Wilks Brothers, LLC
    • $42.57
    • Substantially All Assets and Business of AllCell Technologies, LLC
    • Beam Global
    • $33.91
    • Independence Hydrogen, Inc.
    • Suburban Renewable Energy, LLC
    • $30.00
    • BANGL, LLC
    • Rattler Midstream LP
    • $22.20

     

    Source S&P Capital IQ as of 4/6/2022 and PCE Proprietary Data

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    PCE Transactions

    Contacts

    Michael Poole

    Orlando Office

    407-621-2112

    Michael Rosendahl

    New York Office

    201-444-6280 Ext 1

    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. Patterson, Scott. “High Gasoline Price Have Consumers Thinking Electric.” The Wall Street Journal, Dow Jones & Company Inc., 23 Mar. 2022.
    2. Matthews, Christopher M. “Oil CEOs, Biden Officials Warn Oil Volatility Is Here To Stay.” The Wall Street Journal, Dow Jones & Company, Inc., 7. Mar. 2022.
    3. Adomaitis, Nerijus. “Lundin Energy aims to become renewable leader via M&A.” Reuters, Thomas Reuters Corporation, 7 Mar. 2022.
    4. Lee, Jinjoo. “How Ukraine War Enriches Uranium Miners.” The Wall Street Journal, Dow Jones & Company, Inc., 23 Mar. 2022.
    5. Volcovici, Valeria. “U.S. announces first offshore wind lease sale in Carolinas.” Reuters, Thomas Reuters Corporation, 25 Mar. 2022.

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