FirstEnergy - M&A Summary and Business Overview

UtilitiesCompany

FirstEnergy M&A Summary

FirstEnergy has acquired 3 companies. It has also divested 4 assets.

FirstEnergy’s largest acquisition to date was in 2010, when it acquired Allegheny Energy for $4.7B. It’s largest disclosed sale occurred in 2017, when it sold FirstEnergy - 4 Natural Gas Generating Plants to LS Power Development for $925M. FirstEnergy has acquired in 2 different US states, and 2 countries. The Company’s most targeted sectors include utilities (100%).

FirstEnergy Business Overview

Where is FirstEnergy headquartered?

FirstEnergy is headquartered in Akron, Ohio.

What is FirstEnergy’s revenue?

FirstEnergy disclosed revenue of 12,459M USD for 2022 and 11,132M USD for 2021.

How many employees does FirstEnergy have?

FirstEnergy has 12,335 employees.

What sector is FirstEnergy in?

FirstEnergy is an utilities company.

When was FirstEnergy founded?

FirstEnergy was founded in 1996.

M&A Summary

  • M&A Total Activity7
    • M&A Buy Activity3
    • M&A Sell Activity4
  • Total Sectors Invested 1
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 3
  • M&A Advisors 3

FirstEnergy

FirstEnergy Corp.

76 South Main Street,
Akron, Ohio 44308
United States,
(800) 736-3402
www.firstenergycorp.com

FirstEnergy is a diversified energy company dedicated to safety, reliability and operational excellence. Headquartered in Akron, Ohio, FirstEnergy includes a investor-owned electric systems and a diverse generating fleet with a total capacity of nearly 18,000 megawatts. FirstEnergy was founded in 1996 and is based in Akron, Ohio.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 3 - - - - - 3
vol $9.6B $9.6B
Sell (0.0/yr) # 4 - - - - - 4
vol $1.0B $1.0B
  7

Most Recent M&A

Company Date Value Type
Allegheny Energy Supply Co. LLC 2017-01-19 - Divestiture
Greensburg, Pennsylvania
Allegheny Generating Co. 2017-01-19 - Divestiture
Greensburg, Pennsylvania
FirstEnergy Corp. - 4 Natural Gas Generating Plants 2017-01-19 925M USD Divestiture
Akron, Ohio
Richland-Stryker Generation LLC 2011-11-22 80M USD Divestiture
Defiance, Ohio
Allegheny Energy, Inc. 2010-02-10 4.7B USD Add-on Acquisition
Greensburg, Pennsylvania · www.alleghenyenergy.com
GPU, Inc. 2001-11-07 4.5B USD Add-on Acquisition
Morristown, New Jersey · www.gpu.com
EMDERSA Generación Salta S.A. 2001-01-01 435M USD Add-on Acquisition
Salta, Argentina
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Utilities 3 (100%) 9.6B (100%) 2 (50%) 1.0B (100%)
Renewable Energy - - 2 (50%) -
Total 3 $9.6B 4 $1.0B

By Geo

State/Country Buy Value Sell Value
United States 2 9.2B 4 1.0B
  Pennsylvania 1 4.7B 2 -
  Ohio - - 2 1.0B
  New Jersey 1 4.5B - -
Argentina 1 435M - -
Domestic 2 (67%) 9.2B (95%) 4 (100%) 1.0B (100%)
Cross-border 1 (33%) 435M (5%) - -
Total 3 $9.6B 4 $1.0B

Top M&A Advisors

Financial Deals
Harbor Hills Partners LLC
 1
Morgan Stanley
 1
Legal Deals
Akin Gump Strauss Hauer & Feld LLP
 1

Deal Values

buy # Total
> $1B 2 $9.2B
$100M to $1B 1 $435M
TOTAL $9.6B
Largest Allegheny Energy, Inc.
$4.7B (2010-02-10)
sell # Total
$100M to $1B 1 $925M
< $100M 1 $80M
TOTAL $1.0B
Largest FirstEnergy Corp. - 4 Natural Gas Generating Plants
$925M (2017-01-19)

M&A Connections

Deals
Divested to
Investor(s)
25%
1 (25%)
Strategic(s)
75%
3 (75%)

Company Summary

SECTOR

Utilities

Revenue

12,459   12% 2022
11,132   4% 2021
10,790   3% 2020
11,035   3% 2019
11,261   20% 2018
14,017   4% 2017
14,562   4% 2016
15,026   1% 2015
15,049   2% 2014
14,892   3% 2013
15,255   2012
(millions of USD) Show More Show Less

Employees

12,335

Established

1996

Public

NYSE: FE

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