M&A Deal Summary

CPP Investments Acquires Pattern Energy Group

On November 4, 2019, pension CPP Investments acquired renewable energy company Pattern Energy Group for 6.1B USD

Acquisition Highlights
  • This is CPP Investments’ 2nd transaction in the Renewable Energy sector.
  • This is CPP Investments’ 5th largest (disclosed) transaction.
  • This is CPP Investments’ 17th transaction in the United States.
  • This is CPP Investments’ 4th transaction in California.

M&A Deal Summary
Date 2019-11-04
Target Pattern Energy Group
Sector Renewable Energy
Buyer(s) CPP Investments
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 6.1B USD
Advisor(s) Evercore Group
Goldman Sachs (Financial)

Target

Pattern Energy Group

San Francisco, California, United States
website
Pattern Energy Group LP owns and operates renewable energy facilities. Pattern Energy business is built around three core values of creative energy and spirit, the pride of ownership and follow-through, and a team-first attitude, which guide us in creating a safe, high-integrity work environment, applying rigorous analysis to all aspects of business, and proactively working with our stakeholders to address environmental and community concerns.

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Buyer(S) 1

Buyer

CPP Investments

Investor Investor Investor Investor Investor

website

Category Pension
Founded 1997
Size Mega
Type Sector Agnostic
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.

DEAL STATS #
Overall 31 of 47
Sector (Renewable Energy) 2 of 3
Type (Buyout (LBO, MBO, MBI)) 4 of 6
State (California) 4 of 7
Country (United States) 17 of 25
Year (2019) 4 of 5
Size (of disclosed) 5 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-23 Interparking

Bruxelles, Belgium

Interparking is one of the major European car park operators. Interparking designs, builds, operates and maintains high-quality car parks across Europe. Interparking operates 949 car park sites with c.415,000 parking spaces in cities across 416 cities in 9 countries. These include Belgium, the Netherlands, Spain, France, Italy, Poland and Romania, and Interparking operates car parks in Germany and Austria under the brand Contipark. Interparking was founded in 1958 and is based in Bruxelles, Belgium.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-21 Impulsora del Desarrollo y el Empleo en América Latina

Mexico City, Mexico

Impulsora del Desarrollo y el Empleo en América Latina is an independent publicly-traded company that engages in the development, promotion, operation, and administration of infrastructure projects in Mexico and Latin America. IDEAL is one of the largest infrastructure companies in Latin America, with 18 infrastructure concessions in different sectors, including toll roads, water, energy, social infrastructure, and logistics terminals. Impulsora del Desarrollo y el Empleo en América Latina was founded in 2005 and is based in Mexico City, Mexico.

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