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    Power & Energy Q2 2021

    Q2 2021 Power & Energy

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Natural gas transmission and storage business of Dominion Energy, Inc.
    • Berkshire Hathaway Energy Company
    • $8,000.00
    • Cheniere Energy Partners, L.P.
    • The Blackstone Group Inc.; Brookfield Infrastructure Corporation
    • $7,000.00
    • DoublePoint Energy, LLC
    • Pioneer Natural Resources USA, Inc.
    • $6,207.92
    • All Alaska Operations of BP p.l.c. and BP Pipelines (Alaska) Inc.
    • Hilcorp Alaska LLC
    • $5,600.00
    • El Paso Electric Company
    • J.P. Morgan Asset Management, Inc.
    • $4,332.63
    • TC PipeLines, LP
    • TC Energy Corporation
    • $3,938.23
    • Vivint Solar, Inc.
    • Sunrun Inc.
    • $3,638.22
    • Centrica Us Holdings Inc./Direct Energy Marketing Limited
    • NRG Energy, Inc.
    • $3,625.00
    • International-Matex Tank Terminals, Inc.
    • Riverstone Holdings LLC
    • $2,685.00
    • Trippe Manufacturing Company
    • Eaton Corporation plc
    • $1,650.00

     

    Source S&P Capital IQ as of 7/14/2021 and PCE Proprietary Data

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    Michael Poole

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    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. Dezember, Ryan, “The Natural-Gas Glut Has Evaporated, Driving Prices Higher,” The Wall Street Journal, Dow Jones & Company, 20 June, 2021
    2. Blunt, Katherine and Jim Carlton, “West Risks Blackouts as Drought Reduces Hydroelectric Power,” The Wall Street Journal, Dow Jones & Company, 18 June, 2021
    3. Davis, Bob, “Can America’s Solar Power Industry Compete with China’s? One Firm Tries,“ The Wall Street Journal, Dow Jones & Company, 21 June, 2021
    4. Ramkumar, Amrith and Joe Wallace, “Oil Price Hits Pandemix High as Investors Bet on Green Energy,” The Wall Street Journal, Dow Jones & Company, 14 June, 2021
    5. Patel, Sonal, “Despite South Carolina IRP Rejection, Duke Energy Seeks 80-Year Operation for Oconee Nuclear Units,” Power Magazine, 22 June, 2021
    6. Lee, Jinjoo, “Big Oil’s Influence Shrinks as Tax Perks Face Axe in Biden Plan,” The Wall Street Journal, Dow Jones & Company, 14 April, 2021
    7. Schechner, Sam, “Amazon and Other Tech Giants Race to Buy Up Renewable Energy,” The Wall Street Journal, Dow Jones & Company, 23 June, 2021
    8. Wallace, Joe, “U.S. Oil Prices hit Six-Year High Amid OPEC Standoff,” The Wall Street Journal, Dow Jones Company, 6 July, 2021
    9. “Hartree Partners Completes Purchase of Controlling Interest in Sprague Resources,” Global News Wire, 28 May, 2021
    10. “Sprague Resources (SRLP) to Sell Controlling Interest in Sprague Resources LP to Hartree Partners, LP,” Street Insider, 20 April, 2021
    11. Ferek, Katy Stech, “Congress Restores Pre-Trump Era Methane-Gas Emissions Standards,” The Wall Street Journal, Dow Jones & Company, 25 June, 2021

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