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    Power & Energy Q4 2020

    Q4 2020 Power Energy

    M&A Transaction Trends

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Natural gas transmission and storage of Dominion Energy, Inc.
    • Berkshire Hathaway Energy Company
    • $8,000.00
    • Tallgrass Energy, LP
    • GIC Special Investments Pte. Ltd., The Blackstone Group Inc., Enagás, S.A. and the National Pension Service
    • $7,367.16
    • Cheniere Energy Partners, L.P.
    • The Blackstone Group Inc. and Brookfield Infrastructure Corporation
    • $7,000.00
    • Pattern Energy Group Inc.
    • Canada Pension Plan Investment Board
    • $6,414.29
    • Alaska Operations of BP p.l.c. and BP Pipelines, Inc.
    • Hilcorp Alaska LLC
    • $5,600.00
    • El Paso Electric Company
    • J.P. Morgan Asset Management, Inc.
    • $4,332.63
    • Vivint Solar, Inc.
    • Sunrun Inc.
    • $3,638.22
    • International-Matex Tank Terminals, Inc.
    • Riverstone Holdings LLC
    • $2,685.00
    • EQM Midstream Partners, LP
    • Equitrans Midstream Corporation
    • $1,780.27
    • Cooper Lighting, LLC
    • Signify N.V.
    • $1,400.00

     

    Source S&P Capital IQ as of 1/13/2021 and PCE Proprietary Data

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    whitcomb-woody

     

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    Valuation

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    Mackenzie Moran

     

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    Valuation

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    R Winston 667 x 667

     

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    Valuation

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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. Hodari, David. "Short-Term Oil-Demand Outlook in Rich Countries Is Bleak." The Wall Street Journal, Dow Jones & Company, 15 Dec. 2020.
    2. Dec 3, 2020 by Sonal Patel. "Bipartisan Bill to Preserve Existing Nuclear Plants Clears Senate Committee." POWER Magazine, 3 Dec. 2020.
    3. Bandyk, Matthew. "Pacific Northwest Poised to Test 100% Renewables as Utilities Weigh Gas vs. Storage." Utility Dive, 17 Dec. 2020 .
    4. Bandyk, Matthew. "Pacific Northwest Poised to Test 100% Renewables as Utilities Weigh Gas vs. Storage." Utility Dive, 17 Dec. 2020.
    5. Frequently Asked Questions (FAQs) - U.S. Energy Information Administration (EIA), 4 Sept. 2020.
    6. Themmagraham. "U.S. Energy Secretary Sees Middle East Oil and Gas Security in Pipelines, Not Tankers." CNBC, CNBC, 17 Dec. 2020.
    7. Dec 10, 2020 by Sonal Patel. "IEA/NEA: Renewables, Nuclear, Hydrogen Gaining Cost Competitiveness." POWER Magazine, 10 Dec. 2020.
    8. Gheorghiu, Iulia. "Dominion Files Plans with Federal Regulators for 2.6 GW Offshore Wind Project, Largest in US to Date." Utility Dive, 22 Dec. 2020.
    9. Faucon, Benoit, and Summer Said. "Saudis, Russia at Odds Over Boosting Oil Output Amid Covid-19 Pandemic." The Wall Street Journal, Dow Jones & Company, 4 Jan. 2021, .
    10. "The Industrial Giants That Could Get a Lift From Hydrogen," Rochelle Toplensky, The Wall Street Journal, Nov. 10, 2020.

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