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    Power & Energy Q3 2020

    Q3-2020-Power-Energy

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Cheniere Energy Partners, L.P.
    • The Blackstone Group Inc. and Brookfield Infrastructure Corporation
    • $7,000.00
    • El Paso Electric Company
    • J.P. Morgan Asset Management, Inc.
    • $4,332.63
    • Mankato Energy Center
    • Southwest Generation Operating Company, LLC
    • $680.00
    • CNX Midstream Partners LP
    • CNX Resources Corporation
    • $358.33
    • Vivint Solar, Inc.
    • Coatue Management, L.L.C.
    • $250.00
    • Assets of Rymes Propane & Oils, Inc.
    • Superior Plus Corp.
    • $159.00
    • Quintana Energy Services Inc.
    • KLX Energy Services Holdings, Inc.
    • $61.94
    • North American Electricity Transmission Operation
    • Undisclosed
    • $60.00
    • Six Operating Wind Farms in Elmore County, Idaho
    • Innergex Renewable Energy Inc.
    • $56.80
    • Pomona Energy Storage Facility in California
    • Ormat Nevada, Inc.
    • $47.00

     

    Source S&P Capital IQ as of 10/12/2020 and PCE Proprietary Data

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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. Wallace, Joe. “Oil Market Flies Blind as Covid-19 Clouds Demand Outlook.” The Wall Street Journal, September 22, 2020.
    2. Said, Summer and McFarlane, Sarah. “Saudi Aramco Slows Diversification Plans Amid Industry Downturn.” The Wall Street Journal, Sepember 2, 2020.
    3. “Trump administration to allow oil and gas drilling in Arctic Wildlife Refuge.” ABC News, August 17, 2020.
    4. Reuters. “Chevron picks Noble in biggest U.S. energy deal since the oil crash.” CNBC, July 20, 2020.
    5. Proctor, Darrell. “BP Buying $1.1 Bilion Stake in U.S. Offshare Wind.” Power Magazine, September 12, 2020.
    6. Frangoul, Anmar. “GE plans big shift away from coal-fired power sector.” CNBC, September 22, 2020.
    7. Jacobson, Jon. “COVID-19 sacked clean energy jobs in U.S. and they haven't come back.” United Press International, Inc., August 31, 2020.
    8. Bandyk, Matthew. “For Nuclear Plants Operating on Thin Margins Growing Climate Risks Prompt Tough Choices.” Utility Drive, September 10, 2020.
    9. Rott, Allison. “Two Illinois Nuclear Plants Plan Shut Down in Fall 2021.” North Central College Linked, September 21, 2020.

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