Duke Energy - M&A Summary and Business Overview

Energy Services And EquipmentCompany

Duke Energy M&A Summary

Duke Energy has acquired 12 companies, including 3 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 9 assets.

Duke Energy’s largest acquisition to date was in 2012, when it acquired Progress Energy for $32.0B. It’s largest disclosed sale occurred in 2016, when it sold Duke Energy - Brazil International Business to China Three Gorges for $1.2B. Duke Energy has acquired in 6 different US states, and 2 countries. The Company’s most targeted sectors include renewable energy (25%) and energy services and equipment (25%).

Duke Energy Business Overview

Where is Duke Energy headquartered?

Duke Energy is headquartered in Charlotte, North Carolina.

What is Duke Energy’s revenue?

Duke Energy disclosed revenue of 28,768M USD for 2022 and 25,097M USD for 2021.

How many employees does Duke Energy have?

Duke Energy has 27,859 employees.

What sector is Duke Energy in?

Duke Energy is an energy services and equipment company.

When was Duke Energy founded?

Duke Energy was founded in 1904.

M&A Summary

  • M&A Total Activity21
    • M&A Buy Activity12
    • M&A Sell Activity9
  • Total Sectors Invested 7
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 18
  • M&A Advisors 10

Duke Energy

Duke Energy Corp.

526 South Church Street,
Charlotte, North Carolina 28202
United States,
(704) 382-3853
www.duke-energy.com

Duke Energy is an electric power holding companies in the United States. Its regulated utility operations serve approximately 4 million customers located in five states in the Southeast and Midwest, representing a population of approximately 11 million people. Its commercial power and international business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States. Duke Energy was incorporated in 1904 and is based in Charlotte, North Carolina.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.2/yr) # 11 - - 1 - - 12
vol $55.7B $55.7B
Sell (0.0/yr) # 9 - - - - - 9
vol $3.5B $3.5B
  21

Most Recent M&A

Company Date Value Type
Viatec, Inc. 2022-02-01 - Venture
Greenville, South Carolina · www.viatec.us
Recurrent Energy LLC - 200-MWac Texas Solar Project 2019-09-12 - Divestiture
San Francisco, California
8minute Solar Energy - 200-MW Holstein Solar Project 2019-07-22 - Divestiture
San Francisco, California
Duke Energy Renewables LLC 2019-04-24 - Stake Sale
, Kansas
Duke Energy Corp. - Brazil International Business 2016-12-29 1.2B USD Divestiture
Charlotte, North Carolina
Duke Energy Corp. - Peru, Chile, Ecuador, Guatemala Business 2016-12-20 1.2B USD Divestiture
, Peru
Phoenix Energy Technologies, Inc. 2015-10-30 - Add-on Acquisition
Irvine, California · www.phoenixet.com
Piedmont Natural Gas Co., Inc. 2015-10-26 6.7B USD Add-on Acquisition
Charlotte, North Carolina · www.piedmontng.com
Conterra Ultra Broadband LLC 2014-03-20 - Divestiture
Charlotte, North Carolina · www.conterra.com
DukeNet Communications LLC 2013-10-07 600M USD Trade Sale
Charlotte, North Carolina · www.dukenet.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Energy Services and Equipment 3 (25%) 15.7B (28%) 4 (44%) 2.4B (70%)
Renewable Energy 3 (25%) - 2 (22%) 427M (12%)
Communications 1 (8%) - 2 (22%) 600M (17%)
Utilities 2 (17%) 32.0B (57%) - -
Oil/Gas Exploration 1 (8%) 8.0B (14%) 1 (11%) -
Machinery 1 (8%) - - -
Software 1 (8%) - - -
Total 12 $55.7B 9 $3.5B

By Geo

State/Country Buy Value Sell Value
United States 11 47.7B 7 2.3B
  North Carolina 4 38.7B 3 1.8B
  California 3 - - -
  Texas 1 - 1 -
  South Carolina 1 - 1 427M
  Ohio 1 9.0B - -
  Rhode Island - - 1 28M
  Kansas - - 1 -
United Kingdom 1 8.0B 1 -
Peru - - 1 1.2B
Domestic 11 (92%) 47.7B (86%) 7 (78%) 2.3B (65%)
Cross-border 1 (8%) 8.0B (14%) 2 (22%) 1.2B (35%)
Total 12 $55.7B 9 $3.5B

Top M&A Advisors

Financial Deals
J.P. Morgan Securities
 1
Barclays Investment Bank
 1
UBS Investment Bank
 1
Legal Deals
Sidley
 1
Moore & Van Allen PLLC
 1
Wachtell, Lipton, Rosen & Katz
 1

Deal Values

buy # Total
> $1B 4 $55.7B
TOTAL $55.7B
Largest Progress Energy, Inc.
$32.0B (2012-07-02)
sell # Total
> $1B 2 $2.4B
$100M to $1B 2 $1.0B
< $100M 1 $28M
TOTAL $3.5B
Largest Duke Energy Corp. - Brazil International Business
$1.2B (2016-12-29)

M&A Connections

Deals
Acquired from
Investor(s)
8%
1 (8%)
Strategic(s)
33%
4 (33%)
Divested to
Investor(s)
33%
3 (33%)
Strategic(s)
56%
5 (56%)

Company Summary

SECTOR

Energy Services and Equipment

Revenue

28,768   15% 2022
25,097   6% 2021
23,868   5% 2020
25,079   3% 2019
24,521   5% 2018
23,565   4% 2017
22,743   4% 2016
23,459   2% 2015
23,925   6% 2014
22,756   28% 2013
17,912   2012
(millions of USD) Show More Show Less

Employees

27,859

Established

1904

Public

NYSE: DUK

Former Name

Duke Energy Holding Corp.

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