AES - M&A Summary and Business Overview

UtilitiesCompany

AES M&A Summary

AES has acquired 15 companies, including 4 in the last 5 years. A total of 8 acquisitions came from private equity firms. It has also divested 12 assets.

AES’s largest acquisition to date was in 2011, when it acquired DPL for $4.7B. It’s largest disclosed sale occurred in 2002, when it sold CILCORP to Ameren for $540M. AES has acquired in 10 different US states, and 3 countries. The Company’s most targeted sectors include renewable energy (39%) and electrical equipment (16%).

AES Business Overview

Where is AES headquartered?

AES is headquartered in Arlington, Virginia.

What is AES’s revenue?

AES disclosed revenue of 9,660M USD for 2020 and 10,189M USD for 2019.

How many employees does AES have?

AES has 8,162 employees.

What sector is AES in?

AES is an utilities company.

When was AES founded?

AES was founded in 1981.

M&A Summary

  • M&A Total Activity25
    • M&A Buy Activity13
    • M&A Sell Activity12
  • Total Sectors Invested 6
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 21
  • M&A Advisors 3

AES

The AES Corporation

4300 Wilson Boulevard, 11th Floor,
Arlington, Virginia 22203
United States,
(703) 522-1315
www.aes.com

AES is a power company that owns and operates a diverse and growing portfolio of electricity generation and distribution businesses, which provide reliable, affordable energy to customers in 21 countries. AES understands that a reliable, affordable supply of electricity is essential to human progress, economic growth, public health and security. The AES was founded in 1981 and is based in Arlington, Virginia.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 10 - 3 - - - 13
vol $10.2B $10.2B
Sell (0.2/yr) # 11 1 - - - - 12
vol $702M $702M
  25

Most Recent M&A

Company Date Value Type
Community Energy, Inc. 2021-12-20 - Add-on Acquisition
Radnor, Pennsylvania · www.communityenergyinc.com
Valcour Wind Energy LLC 2021-12-07 - Add-on Acquisition
Albany, New York
Uplight 2021-07-28 - Add-on Acquisition
Boulder, Colorado · www.uplight.com
Sustainable Power Group LLC 2020-11-17 - Merger
Salt Lake City, Utah · www.spower.com
AES Corp - Shady Point 2018-12-20 - Divestiture
Poteau, Oklahoma
Sustainable Power Group LLC 2017-02-24 1.6B USD Add-on Acquisition
Salt Lake City, Utah · www.spower.com
AES Armenia Mountain Wind LLC 2015-07-02 108M USD Divestiture
Mainesburg,, Pennsylvania
Main Street Power Company, Inc. 2015-03-13 - Add-on Acquisition
Boulder, Colorado · www.mainstreetpower.com
AES Saurashtra Windfarms Pvt. Ltd. 2014-03-04 - Divestiture
Gurgaon, India
AES - Wind Farms 2014-01-31 27M USD Divestiture
, United States
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Uplight 2021-07-28 AutoGrid Systems, Inc. 2023-12-14 2
Boulder, Colorado · www.uplight.com Redwood City, California · www.auto-grid.com
AES Gener S.A.    - Compañía Transmisora del Norte Grande S.A. 2018-12-20 1
Santiago, Chile · www.aesgener.cl , Chile
DPL, Inc. 2011-11-28 DPL Energy Resources, Inc. 2016-01-06 1
Dayton, Ohio · www.dplinc.com Dayton, Ohio · www.dplenergy.com
Sustainable Power Group LLC    - FLS Energy - 63.1MWdc Solar Assets 2015-03-11 1
Salt Lake City, Utah · www.spower.com , United States

M&A by Sector

Sector Buy # Value Sell # Value
Renewable Energy 5 (38%) 1.6B (15%) 7 (58%) 135M (19%)
Utilities 2 (15%) 6.9B (67%) 4 (33%) 27M (4%)
Electrical Equipment 2 (15%) 1.8B (17%) 1 (8%) 540M (77%)
Energy Services and Equipment 2 (15%) - - -
Environmental 1 (8%) - - -
Internet Software and Services 1 (8%) - - -
Total 13 $10.2B 12 $702M

By Geo

State/Country Buy Value Sell Value
United States 11 10.2B 8 702M
  Pennsylvania 1 - 3 108M
  Colorado 2 - - -
  Utah 1 1.6B 1 -
  Illinois 1 885M 1 540M
  Virginia 1 - - -
  Vermont 1 866M - -
  Ohio 1 4.7B - -
  New York 1 - - -
  Indiana 1 2.2B - -
  California 1 - - -
  Oklahoma - - 1 -
Pakistan - - 2 -
India - - 1 -
Ireland 1 - - -
Oman - - 1 -
United Kingdom 1 - - -
Domestic 11 (85%) 10.2B (100%) 8 (67%) 702M (100%)
Cross-border 2 (15%) - 4 (33%) -
Total 13 $10.2B 12 $702M

Top M&A Advisors

Financial Deals
BofA Securities
1
Lehman Brothers, Inc.
1
Legal Deals
Skadden, Arps, Slate, Meagher & Flom
2

Deal Values

buy # Total
> $1B 3 $8.4B
$100M to $1B 2 $1.8B
TOTAL $10.2B
Largest DPL, Inc.
$4.7B (2011-11-28)
sell # Total
$100M to $1B 2 $648M
< $100M 2 $54M
TOTAL $702M
Largest CILCORP, Inc.
$540M (2002-04-29)

M&A Connections

Deals
Acquired from
Investor(s)
46%
6 (46%)
Divested to
Strategic(s)
100%
12 (100%)

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