M&A Deal Summary

Ontario Power Generation Acquires Cube Hydro Partners

On June 25, 2019, Ontario Power Generation acquired utilities company Cube Hydro Partners from I Squared Capital

Acquisition Highlights
  • This is Ontario Power Generation’s 1st transaction in the Utilities sector.
  • This is Ontario Power Generation’s 2nd transaction in the United States.
  • This is Ontario Power Generation’s 1st transaction in Maryland.

M&A Deal Summary
Date 2019-06-25
Target Cube Hydro Partners
Sector Utilities
Buyer(s) Ontario Power Generation
Sellers(s) I Squared Capital
Deal Type Add-on Acquisition

Target

Cube Hydro Partners

Bethesda, Maryland, United States
website
Cube Hydro Partners LLC is an operator of small and medium-sized 19 hydropower facilities, providing 385 MW of in-service capacity facilities based in the northeast and southeast United States. Cube Hydro Partners LLC was founded in 2014 and is based in Bethesda, Maryland.

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Buyer(S) 1

Buyer

Ontario Power Generation

Toronto, Ontario, Canada

website

Category Company
Founded 1999
Sector Utilities
DESCRIPTION

Ontario Power Generation, Inc. produces almost half of the electricity that Ontario homes, schools, hospitals and businesses rely on each day. Company are committed to ensuring energy production is reliable, safe and environmentally sustainable for Ontarians today and for the future.

DEAL STATS #
Overall 2 of 2
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Maryland) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-09 Eagle Creek Renewable Energy

Morristown, New Jersey, United States

Eagle Creek Renewable Energy LLC is an owner, operator and developer of hydroelectric power projects. Eagle Creek’s projects provide clean energy to electricity consumers in North America while providing recreational opportunities and protecting historical resources and the environment.

Buy -

Seller(S) 1

SELLER

I Squared Capital

Investor Investor Investor

website

Category Infrastructure
Founded 2012
Size Small
Type Sector Focused
DESCRIPTION

I Squared Capital is a global infrastructure investment manager focusing on energy, utilities, and transportation assets in North America, Europe, and select high growth economies. I Squared Capital was established in 2012 and is headquartered in New York City.

DEAL STATS #
Overall 2 of 2
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 2 of 2
State (Maryland) 1 of 1
Country (United States) 2 of 2
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-09 Lincoln Clean Energy

Chicago, Illinois, United States

Lincoln Clean Energy LLC is a U.S.-based developer, owner and operator of wind farms. LCE has developed over 1.8 GW of renewable power projects in California, New Jersey and Texas. In 2017, LCE was the largest non-utility wind developer in the U.S

Sell $580M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-12 Venture Global LNG

Arlington, Virginia, United States

Venture Global LNG is a long-term, low-cost provider of American-produced liquefied natural gas. Venture Global LNG two Louisiana-based export projects service the global demand for North American natural gas and support the long-term development of clean and reliable North American energy supplies.

Buy -
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