M&A Deal Summary

CorEnergy Infrastructure Trust Acquires MoGas Energy

On November 25, 2014, CorEnergy Infrastructure Trust, Inc. acquired utilities company MoGas Energy LLC from Ares Private Equity Group – EIF for 125M USD

Acquisition Highlights
  • This is CorEnergy Infrastructure Trust’s 1st transaction in the Utilities sector.
  • This is CorEnergy Infrastructure Trust’s 4th largest (disclosed) transaction.
  • This is CorEnergy Infrastructure Trust’s 1st transaction in the United States.
  • This is CorEnergy Infrastructure Trust’s 1st transaction in South Dakota.

M&A Deal Summary

Date 2014-11-25
Target MoGas Energy LLC
Sector Utilities
Buyer(s) CorEnergy Infrastructure Trust, Inc.
Sellers(s) Ares Private Equity Group – EIF
Deal Type Add-on Acquisition
Deal Value 125M USD

Target

MoGas Energy LLC

Rapid City, South Dakota, United States
MoGas Energy LLC owns and operates a 263-mile natural gas pipeline that serves the area in and around St. Louis and into central Missouri.

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Buyer(S) 1

Buyer

CorEnergy Infrastructure Trust, Inc.

Kansas City, Missouri, United States

website


Category Company
SectorReal Estate
Employees31
Revenue 11M USD (2020)
DESCRIPTION

CorEnergy is a REIT focused on energy infrastructure primarily owns midstream and downstream assets that perform utility-like functions, such as pipelines, storage terminals, and transmission and distribution assets.


DEAL STATS #
Overall 1 of 4
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 1 of 2
State (South Dakota) 1 of 1
Country (United States) 1 of 3
Year (2014) 1 of 1
Size (of disclosed) 4 of 4
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-30 Grand Isle Gathering System

Isle of Man, United Kingdom

Grand Isle Gathering System is a subsea, midstream pipeline system with related onshore facilities serving oil-producing fields in the shallow portion of the Gulf of Mexico.

Buy $245M

Seller(S) 1

SELLER

Ares Private Equity Group – EIF

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 5.8B USD
SizeMega
Type Sector Focused
DESCRIPTION

Ares EIF is the direct energy investment arm of asset management firm, Ares Management. Ares EIF operates within Ares Private Equity Group and focuses exclusively on energy related investments. Specific areas of interest include electricity generating, transmission, and energy services assets; energy and utility company ownership interests; and utility service deployment investments. The Firm is a hands-on investor, and looks for ways to unlock value post acquisition. Ares EIF's geographic preference is for US based opportunities. Ares EIF was formed in 1987 and was acquired by Ares Management in 2014.


DEAL STATS #
Overall 9 of 11
Sector (Utilities) 7 of 9
Type (Add-on Acquisition) 2 of 3
State (South Dakota) 1 of 1
Country (United States) 9 of 11
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-22 Black River Generation LLC

Fort Drum, New York, United States

Black River Generation LLC (Formerly Black River Energy LP) is a 50MW coal and pet coke facility located on Fort Drum in Watertown, New York. The facility also has permits to burn tire-derived fuel, wood chips, and pelletized cardboard and uses CFB – Alstrom technology. Select Energy, a subsidiary of Northeast Utilities, has entered into a three-year power contract with Black River Generation

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-12-22 Neptune Regional Transmission System LLC (Neptune RTS)

Fairfield, Connecticut, United States

Neptune Regional Transmission System is a power transmission cable that connects New Jersey and Long Island. Neptune provides up to 660 MW of power to Long Island electricity consumers – enough for 600,000 homes — and supplies more than 20 percent of Long Island’s typical electricity demand. Neptune Regional Transmission System is based in Fairfield, Connecticut.

Sell -