Energy & Sustainability M&A Activity — July 2020
Recent M&A Activity:
- June 2, 2020: Murchison Drilling Schools was acquired by ModuResources for an undisclosed amount. This acquisition provides ModuResources a greater presence in the Americas market and strengthens Well Academy in the global delivery of drilling operational classes.
- June 4, 2020: Rainier View Water was acquired by Washington Water Service, a subsidiary of California Water Service Group, for an undisclosed amount. Rainier View Water operates 27 water systems that serve about 35,000 people and provides customers with a reliable supply of safe, high-quality water.
- June 9, 2020: Murfreesboro Electric Department was acquired by Middle Tennessee Electric Membership Corporation for $302 million. The acquisition will create leadership in the City Council and City Hall and will continue providing affordable electricity and service to Murfreesboro citizens.
- June 17, 2020: EQM Midstream Partners was acquired by Equitrans Midstream for $1.78 billion. EQM Midstream Partners owns, operates, acquires, and develops midstream assets in the Appalachian Basin.
- June 23, 2020: United Hydrogen was acquired by Plug Power for an undisclosed amount. United Hydrogen produces hydrogen and hydrogen products intended to provide a clean environment and lead to lesser dependence on foreign oil.
- June 25, 2020: The business unit of Roberts Energy was acquired by Nouria Energy for an undisclosed amount. This strategic acquisition expands Nouria’s geographic footprint and branded fuel distributorship business into the New York and Connecticut markets.
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.
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.