M&A Deal Summary |
|
|---|---|
| Date | 2021-01-13 |
| Target | Hygo Energy Transition |
| Sector | Energy Services and Equipment |
| Buyer(s) | New Fortress Energy |
| Sellers(s) |
Stonepeak
Golar LNG |
| Deal Type | Divestiture |
| Advisor(s) | Goldman Sachs Citigroup Investment Banking (Financial) Vinson & Elkins (Legal) |
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| Category | Company |
|---|---|
| Founded | 1998 |
| Sector | Infrastructure |
| Employees | 577 |
| Revenue | 2.4B USD (2022) |
New Fortress Energy is a global energy infrastructure company founded to help accelerate the world’s transition to clean energy. The company funds, builds and operates natural gas infrastructure and logistics to rapidly deliver fully integrated, turnkey energy solutions that enable economic growth, enhance environmental stewardship and transform local industries and communities. New Fortress Energy was founded in 1998 and is based in New York, New York.
| DEAL STATS | # |
|---|---|
| Overall | 2 of 2 |
| Sector (Energy Services and Equipment) | 1 of 1 |
| Type (Divestiture) | 1 of 1 |
| Country (Bermuda) | 2 of 2 |
| Year (2021) | 2 of 2 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-01-13 |
Golar LNG
Hamilton, Bermuda Golar LNG provides infrastructure for the liquefaction, transportation, regasification, and downstream distribution of LNG. It operates through three segments: Vessel Operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers, FLNG, and floating storage regasification units (FSRUs); and the development of gas to power projects, as well as LNG distribution operations. Golar LNG was founded in 1946 and is headquartered in Hamilton, Bermuda. |
Buy | $1.9B |
Stonepeak is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stonepeak was formed in 2011 and is headquartered in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 5 of 8 |
| Sector (Energy Services and Equipment) | 2 of 3 |
| Type (Divestiture) | 1 of 1 |
| Country (Bermuda) | 1 of 1 |
| Year (2021) | 1 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2020-12-09 |
AA
Basingstoke, United Kingdom AA is an UK insurance broker with over 2.3 million insurance policies that has a competitive advantage through sophisticated customer analysis ratings and tailored pricing capabilities based on proprietary member data. These capabilities combined with the AA brand and web presence (with over 190 million visits per annum) create a very strong offering in the insurance market. Building on these strengths the AA can provide more competitive and distinctive offers for members in the future. The company remains focused on actions to improve performance in our Motor insurance business by targeting rate reductions from the panel, improving retention performance in call centers, and improving online customer experience. Further, as part of the evolution of the insurance business model, the company will relaunch Financial Services offering to increase its footprint. AA was founded in 1905 and is based in Basingstoke, United Kingdom. |
Buy | £3.8B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2021-04-06 |
Ironclad Energy Partners
Lombard, Illinois, United States Ironclad Energy Partners was formed with power industry veterans for the purpose of acquiring, developing, owning, operating and making capital investments in middle-market power and utility infrastructure assets. Together with Stonepeak, Ironclad plans to acquire power generation, district energy and utility assets and improve them commercially, technically, and/or operationally, in order to increase their value to customers and investors. |
Sell | - |
| Category | Company |
|---|---|
| Founded | 1946 |
| Sector | Oil/Gas Exploration |
| Revenue | 439M USD (2020) |
Golar LNG provides infrastructure for the liquefaction, transportation, regasification, and downstream distribution of LNG. It operates through three segments: Vessel Operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers, FLNG, and floating storage regasification units (FSRUs); and the development of gas to power projects, as well as LNG distribution operations. Golar LNG was founded in 1946 and is headquartered in Hamilton, Bermuda.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 1 |
| Sector (Energy Services and Equipment) | 1 of 1 |
| Type (Divestiture) | 1 of 1 |
| Country (Bermuda) | 1 of 1 |
| Year (2021) | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2016-06-20 |
Hygo Energy Transition
Hamilton, Bermuda Hygo Energy Transition is a provider of liquefied natural gas-based downstream services based in Hamilton, Bermuda. |
Buy | - |
