Duke Energy Mergers and Acquisitions Summary

Energy Services And Equipment Company

Duke Energy has acquired 11 companies, including 4 in the last 5 years. A total of 1 acquisition came from private equity firms. It has also divested 9 assets.

Duke Energy’s largest acquisition to date was in 2012, when it acquired Progress Energy for $32.0B. It’s largest disclosed sale occurred in 2016, when it sold Duke Energy - Brazil International Business to China Three Gorges for $1.2B. Duke Energy has acquired in 5 different US states, and 2 countries. The Company’s most targeted sectors include energy services and equipment (37%) and renewable energy (28%).

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M&A Summary

  • M&A Total Activity20
    • M&A Buy Activity11
    • M&A Sell Activity9
  • Total Sectors Invested 6
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 17
  • M&A Advisors 10

Duke Energy Corp.

550 South Tryon Street,
Charlotte, North Carolina 28202
United States,
(704) 382-3853
www.duke-energy.com

Duke Energy Corp. is an electric power holding companies in the United States. Its regulated utility operations serve approximately 4 million customers located in five states in the Southeast and Midwest, representing a population of approximately 11 million people. Its commercial power and international business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States. Duke Energy was founded in 2005 and is based in Charlotte, North Carolina.


M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (0.4/yr) # 9 - - - 2 - 11
vol $55.7B $55.7B
Sell (0.6/yr) # 6 2 - - 1 - 9
vol $1.1B $2.4B $3.5B
  20

Most Recent M&A

Company Date Value Type
Recurrent Energy LLC - 200-MWac Texas Solar Project 2019-09-12 - Divestiture
San Francisco, California
8minute Solar Energy - 200-MW Holstein Solar Project 2019-07-22 - Divestiture
San Francisco, California
Duke Energy Renewables LLC 2019-04-24 - Stake Purchase
, Kansas
Duke Energy Corp. - Brazil International Business 2016-12-29 1.2B USD Divestiture
Charlotte, North Carolina
Duke Energy Corp. - Peru, Chile, Ecuador, Guatemala Business 2016-12-20 1.2B USD Divestiture
, Peru
Phoenix Energy Technologies, Inc. 2015-10-30 - Add-on Acquisition
Irvine, California · www.phoenixet.com
Piedmont Natural Gas Co., Inc. 2015-10-26 6.7B USD Add-on Acquisition
Charlotte, North Carolina · www.piedmontng.com
Conterra Ultra Broadband LLC 2014-03-20 - Divestiture
Charlotte, North Carolina · www.conterra.com
DukeNet Communications LLC 2013-10-07 600M USD Add-on Acquisition
Charlotte, North Carolina · www.dukenet.com
Broad River Power LLC 2012-12-27 427M USD Divestiture
Gaffney, South Carolina · www.broadriverenergy.com
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Energy Services and Equipment 4 (36%) 47.7B (86%) 5 (56%) 2.9B (83%)
Renewable Energy 3 (27%) - 1 (11%) -
Communications 1 (9%) - 1 (11%) 600M (17%)
Oil/Gas Exploration 1 (9%) 8.0B (14%) 1 (11%) -
Software 1 (9%) - - -
Utilities 1 (9%) - - -
Internet Software and Services - - 1 (11%) -
Total 11 $55.7B 9 $3.5B

By Geo

State/Country Buy Value Sell Value
United States 10 47.7B 7 2.3B
  North Carolina 4 38.7B 3 1.8B
  California 3 - - -
  Texas 1 - 1 -
  Ohio 1 9.0B - -
  South Carolina - - 1 427M
  Rhode Island - - 1 28M
  Kansas - - 1 -
United Kingdom 1 8.0B 1 -
Peru - - 1 1.2B
Domestic 10 (91%) 47.7B (86%) 7 (78%) 2.3B (65%)
Cross-border 1 (9%) 8.0B (14%) 2 (22%) 1.2B (35%)
Total 11 $55.7B 9 $3.5B

Top M&A Advisors

Financial Deals
Barclays Investment Bank
1
UBS Investment Bank
1
Bank of America Merrill Lynch
1
Legal Deals
Moore & Van Allen PLLC
1
Wachtell, Lipton, Rosen & Katz LLP
1
Vinson & Elkins LLP
1

Deal Values

buy # Total
> $1B 4 $55.7B
TOTAL $55.7B
Largest Progress Energy, Inc.
$32.0B (2012-07-02)
sell # Total
> $1B 2 $2.4B
$100M to $1B 2 $1.0B
< $100M 1 $28M
TOTAL $3.5B
Largest Duke Energy Corp. - Brazil International Business
$1.2B (2016-12-29)

M&A Connections

Deals %
Acquired from
PE Firm(s)
20%
1 20%
Strategic(s)
80%
4 80%
Divested to
PE Firm(s)
38%
3 38%
Strategic(s)
63%
5 63%

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