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    Power & Energy Q4 2021

    Q4 2021 Power Energy

    Largest Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Enable Midstream Partners, LP
    • Energy Transfer LP
    • $7,263.07
    • Sempra Global
    • KKR & Co. Inc.
    • $3,370.00
    • Moda Ingleside Energy Center and Other Assets
    • Enbridge Inc
    • $3,000.00
    • Dominion Energy Questar Pipeline Services/Dominion Energy Questar Pipeline/QPC Holding Co LLC
    • Southwest Gas Holdings, Inc.
    • $1,975.00
    • SPX Transformer Solutions, Inc.
    • GE-Prolec Transformers, Inc.
    • $645.00
    • Cameron Highway Oil Pipeline Company
    • Undisclosed
    • $418.00

    Other Financial Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Crockett Cogeneration in California
    • Hull Street Energy, LLC
    • n/a
    • Steier Oil Field Service Inc.
    • Architect Equity LLC
    • n/a
    • Two Operating Solar Projects in Massachusetts of EDF Renewables Inc.
    • CleanCapital LLC
    • n/a

    Other Strategic Buyer Transactions Closed

    • Target
    • Buyer
    • Value($mm)
    • Carling Technologies, Inc.
    • Littelfuse, Inc.
    • $315.00
    • Curtis Palmer, a 60 MW run-of-river hydroelectric portfolio
    • Innergex Renewable Energy Inc.; Hydro-Québec International, Inc.
    • $311.66
    • Pioneer Energy Services Corp.
    • Patterson-UTI Energy, Inc.
    • $296.43
    • 100-MW Operating Wind Asset Located in California
    • NextEra Energy Partners, LP
    • $283.00
    • Eight Refined Product Terminals of NuStar Energy L.P.
    • Sunoco LP
    • $250.00

     

    Source S&P Capital IQ as of 1/11/2022 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. Dexember, Ryan. “America’s Power Plants Are Low on Coal.” Wall Street Journal, 30 Nov. 2021.
    2. Dexember, Ryan. “Balmy Forecasts Send Natural Gas Prices Plunging.” Wall Street Journal, 6 Dec. 2021.
    3. Eaton, Collin and Christopher Matthews. “Demand for Oil, Gas to Remain Robust for Years, Energy Leaders Say.” Wall Street Journal, 6 Dec. 2021.
    4. Ramkumar, Amrith. “Renewable Natural Gas Firm Opal Fuels to Go Public in $2 Billion SPAC Merger.” Wall Street Journal, 2 Dec. 2021.
    5. Said, Summer. “Saudi Aramco Sells Stake in Natural-Gas Pipeline Business.” Wall Street Journal, 6 Dec. 2021.

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