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Energy & Sustainability M&A Activity – July 2019

Recent M&A Activity:

  • May 31, 2019: Sherbino I Wind Farm was acquired by Castleton Commodities International, a subsidiary of DF Energy Acquisition, for an undisclosed amount.
  • June 3, 2019: Blue1 Energy Equipment was acquired by Titan Chemical Transfer Solutions for an undisclosed amount.
  • June 4, 2019: Rio Plaza Water Company was acquired by American Water for an undisclosed amount.
  • June 6, 2019: Trinity Energy Services reached a definitive agreement to be acquired by SMG Industries for $3.35 million. The acquisition expands SMG Industries’ service footprint into a new area with the existing client base.
  • June 10, 2019: Covey Park Energy reached a definitive agreement to be acquired by Comstock Resources for approximately $2.2 billion. The round amount includes the assumption of the company’s outstanding debt and the retirement of the company’s existing preferred units, which in the aggregate total approximately $1.1 billion.
  • June 14, 2019: AMP Americas was acquired by American Natural Gas, a subsidiary of HC2 Holdings, for $41 million. The acquisition is being funded through a combination of cash and the issuance of debt and preferred shares. The acquisition pushes American Natural Gas into the Southeast with the addition of stations in North Carolina, Georgia, and Florida and strengthens its presence in Texas. M&T Bank provided debt financing for the transaction.
  • June 17, 2019: Keane Group reached a definitive agreement with C&J Energy Services to form a new company. The combined company will have a pro-forma enterprise value of approximately $1.8 billion, including $255 million of net debt. The merger of equals will create a leading well completion and production services company in the United States, with increased scale and density across services and geographies with a prominent presence in the most active US basins. The merger is expected to close in the fourth quarter of 2019, following regulatory approvals and receipt of other customary closing conditions.
  • June 17, 2019: Getka Energy was acquired by HBC Investments, Barcas, and its management for an undisclosed amount. As part of the transaction, debt financing was provided by MapleMark Bank. The financing will help the company to expand its footprint in the Mid-Continent.
  • June 17, 2019: Go Electric was acquired by Saft, a subsidiary of Total, for an undisclosed amount. The acquisition enables Saft to expand its value chain capabilities in microgrid energy projects.
  • June 17, 2019: Rive Technology was acquired by W. R. Grace & Company for an undisclosed amount.
  • June 19, 2019: SmartWatt (USA) reached a definitive agreement to be acquired by Centrica for $37 million. The acquisition enables Centrica to expand its operations throughout the United States with technologies that complement its existing energy solutions capabilities.
  • June 25, 2019: Cube Hydro Partners reached a definitive agreement to be acquired by Ontario Power Generation for $1.12 billion.

*Source: PitchBook


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Thomas R. Burton, III

Member / Chair, Energy & Sustainability Practice

Tom Burton has helped to shape the clean energy industry by drawing on his passion for innovation. As a Mintz attorney, Tom counsels investors, entrepreneurs, and Fortune 100 companies. He also guides start-up organizations and accelerators to foster the next generation of energy leaders.

Sahir Surmeli

Member / Co-chair, Energy & Sustainability Practice

Sahir Surmeli is a Mintz business counselor who advises companies, boards, entrepreneurs, investment banks, and venture and private equity investors as they build and grow companies. He handles public offerings, 144A and private financings, acquisitions, joint ventures, and strategic partnerships.