M&A Deal Summary

Stonepeak and Golar LNG Acquire Hygo Energy Transition

On June 20, 2016, infrastructure investor Stonepeak and Golar LNG acquired energy services and equipment company Hygo Energy Transition

Acquisition Highlights
  • This is Stonepeak’s 2nd and Golar LNG’s 1st transaction in the Energy Services and Equipment sector.
  • This is Stonepeak’s 1st and Golar LNG’s 1st transaction in Bermuda.
Investment Fate
  • Hygo Energy Transition was divested to a consortium of buyers in 2021.

M&A Deal Summary
Date 2016-06-20
Target Hygo Energy Transition
Sector Energy Services and Equipment
Buyer(s) Stonepeak
Golar LNG
Deal Type Joint Venture

Target

Hygo Energy Transition

Hamilton, Bermuda
Hygo Energy Transition is a provider of liquefied natural gas-based downstream services based in Hamilton, Bermuda.

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Buyer(S) 2

Buyer

Stonepeak

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2011
PE ASSETS 57.1B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stonepeak is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stonepeak was formed in 2011 and is headquartered in New York City.

DEAL STATS #
Overall 9 of 41
Sector (Energy Services and Equipment) 2 of 3
Type (Joint Venture) 2 of 2
Country (Bermuda) 1 of 3
Year (2016) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-12 Casper Crude to Rail

Casper, Wyoming, United States

Casper Crude to Rail LLC is a company develop, construct and operate crude oil rail infrastructure.

Sell $225M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-22 Ironclad Energy Partners

Lombard, Illinois, United States

Ironclad Energy Partners was formed with power industry veterans for the purpose of acquiring, developing, owning, operating and making capital investments in middle-market power and utility infrastructure assets. Together with Stonepeak, Ironclad plans to acquire power generation, district energy and utility assets and improve them commercially, technically, and/or operationally, in order to increase their value to customers and investors.

Buy -
Buyer

Golar LNG

Hamilton, Bermuda
Category Company
Founded 1946
Sector Oil/Gas Exploration
Revenue 439M USD (2020)
DESCRIPTION

Golar LNG provides infrastructure for the liquefaction, transportation, regasification, and downstream distribution of LNG. It operates through three segments: Vessel Operations, Floating Liquefaction Natural Gas Vessel (FLNG), and Power. The company engages in the acquisition, ownership, operation, and chartering of LNG carriers, FLNG, and floating storage regasification units (FSRUs); and the development of gas to power projects, as well as LNG distribution operations. Golar LNG was founded in 1946 and is headquartered in Hamilton, Bermuda.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Joint Venture) 1 of 1
Country (Bermuda) 1 of 1
Year (2016) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-13 Hygo Energy Transition

Hamilton, Bermuda

Hygo Energy Transition is a provider of liquefied natural gas-based downstream services based in Hamilton, Bermuda.

Sell -
Mergr

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