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    Power & Energy Q2 2020

    Q2 2020 Power Energy

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Tallgrass Energy, LP
    • GIC Special Investments Pte. Ltd.; The Blackstone Group Inc.; Enagás, S.A.; National Pension Service
    • $7,267.16
    • EQM Midstream Partners, LP
    • Equitrans Midstream Corporation
    • $1,780.27
    • Vectren Infrastructure Services Corporation
    • PowerTeam Services, LLC
    • $850.00
    • MVerge Companies
    • PowerTeam Services, LLC
    • $850.00
    • Symmetry Energy Solutions LLC
    • Energy Capital Partners, LLC
    • $286.00
    • Assets of Alta Holdings
    • BCE-Mach III LLC
    • $232.00
    • NGL Terminal Assets of Plains All American Pipeline, L.P.
    • Crestwood Equity Partners LP
    • $160.00
    • Certain Upstream and Midstream Assets
    • Diversified Gas & Oil PLC
    • $145.00
    • TAS Energy Inc.
    • Comfort Systems USA, Inc.
    • $120.00
    • Leasehold Interests In Operating Solar Photovoltaic Electric Generating Projects
    • Goldman Sachs Renewable Power LLC
    • $85.20

     

    Source S&P Capital IQ as of 7/16/2020 and PCE Proprietary Data

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    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. McFarlane, S., “BP Exits Petrochemicals Business in $5 Billion Deal,” The Wall Street Journal, June 29, 2020.
    2. Elliott, R., “Fracking Trailblazer Chesapeake Energy Files for Bankruptcy,” The Wall Street Journal, June 28, 2020.
    3. Egan, M., Duffy, C., “Fracking trailblazer Chesapeake Energy becomes the biggest oil and gas bankruptcy of the pandemic,” CNN Business, June 28, 2020.
    4. McFarlane, S., “Shell Takes $22 Billion Write-Down, Expecting Lower Oil and Gas Prices,” The Wall Street Journal, June 30, 2020.
    5. McFarlane, S., “BP Takes $17.5 Billion Write-Down, Expects Oil Price to Stay Low,” The Wall Street Journal, June 15, 2020.
    6. Mattioli, D., “Amazon to Launch $2 Billion Venture Capital Fund to Invest in Clean Energy,” The Wall Street Journal, June 23, 2020.
    7. Kendall, B., Puko, T., “Supreme Court Removes Hurdle for $8 Billion Atlantic Coast Pipeline,” The Wall Street Journal, June 15, 2020.
    8. Frazier, R., and Ridge, S., “Dominion Energy Agrees to Sell Gas Transmission, Storage Assets to Berkshire Hathaway Energy,” The Wass Street Journal, July 15, 2020.

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