Buyout (LBO, MBO, MBI) • Utilities

TPG Angelo Gordon and ACI Capital Co. Acquire Accent Energy

On December 1, 2004, private equity firm TPG Angelo Gordon and ACI Capital Co. acquired utilities company Accent Energy

Acquisition Context
  • This is TPG Angelo Gordon’s 1st and ACI Capital Co.’s 1st transaction in the Utilities sector.
  • This is TPG Angelo Gordon’s 5th and ACI Capital Co.’s 8th transaction in the United States.
  • This is TPG Angelo Gordon’s 1st and ACI Capital Co.’s 2nd transaction in Ohio.
Investment Fate
  • Accent Energy was sold to a strategic buyer in 2011.

Explore All 137 Buyout (LBO, MBO, MBI) Utilities Deals - Search the Database Free


M&A Deal Summary

Date December 1, 2004
Target Accent Energy
Sector Utilities
Buyer(s) TPG Angelo Gordon
ACI Capital Co.
Deal Type Buyout (LBO, MBO, MBI)

Target Company

Accent Energy

Dublin, Ohio, United States
Accent Energy is a provider of electricity and natural gas supply services to over 140,000 residential and commercial customers in the states of New York, Texas, and California.
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Buyers Overview 2

Buyer

TPG Angelo Gordon

New York, New York, United States

Category Private Equity Firm
Founded 1988
PE ASSETS 78.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Angelo, Gordon's Private Equity Group is the private equity arm of asset manager Angele, Gordon & Co. AG's private equity group focuses on acquiring assets from financially distressed sellers or from larger corporations. Prospective transactions include forced sales, management-led buyouts, private company recapitalizations, corporate carve-outs, asset pool purchases, and other complex situations. The Group prefers control when considering opportunities and generally looks to commit $25 to $125 million of capital in transactions valued up to $500 million. Broad sectors of interest include specialty finance, retail, consumer, healthcare services/facilities, real estate, and business services. Angelo, Gordon's Private Equity group is based in New York City.


Deal Context for Buyer #
Overall 6 of 22
Sector: Utilities 1 of 1
Type: Buyout (LBO, MBO, MBI) 5 of 16
State: Ohio 1 of 1
Country: United States 5 of 18
Year: 2004 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-01-01 Nations Rent

Fort Lauderdale, Florida, United States

Nations Rent is one of the largest equipment rental companies in the US with 265 rental centers in 26 states Part of an investment group that funded the company’s plan of reorganization exiting bankruptcy

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 Dealer Services

Carmel, Indiana, United States

Dealer Services Corporation offers full service operations throughout the U.S. and is the largest independently-owned inventory finance provider for used automobiles. DSC provides flexible and cost effective inventory financing solutions to dealership operations in the areas of: Retail, Wholesale, Rental, Salvage, and various aftermarket products including Insurance and Lender Access.

Buy -
Buyer

ACI Capital Co.

New York, New York, United States

Category Private Equity Firm
Founded 1995
PE ASSETS 500M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

ACI Capital is a private investment firm that targets investments in mid-sized companies. ACI primarily looks for US based businesses with revenues between $25 and $500 million and operating profits of at least $5 million. ACI prefers control investments and will consider a variety of investment structures including buyouts, restructurings, growth capital financings, recapitalizations, PIPEs, secondary purchases, and bridge financings. Sectors of interest include consumer (consumer products, direct marketing, restaurants, franchising, healthy living), industrial (niche manufacturing, transportation, infrastructure, alternative energy), and services (business services, healthcare services, financial services, logistics, media). ACI Capital was formed in 1995 and is based in New York City.


Deal Context for Buyer #
Overall 8 of 10
Sector: Utilities 1 of 1
Type: Buyout (LBO, MBO, MBI) 7 of 9
State: Ohio 2 of 2
Country: United States 8 of 10
Year: 2004 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-01 Healthy Directions

Potomac, Maryland, United States

Healthy Directions LLC is a provider of branded nutritional supplements, health-oriented newsletters and related health products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-01 James River Group

Chapel Hill, North Carolina, United States

James River Group, Inc. is an insurance holding company. James River Group’s two operating companies – the Richmond, Virginia-based James River Insurance Company and the Raleigh, North Carolina-based Stonewood Insurance Company – underwrite in two specialty areas: excess and surplus lines in 49 states, the District of Columbia and the U.S. Virgin Islands, and workers’ compensation, primarily for the residential construction industry in North Carolina and Virginia.

Sell -