Hull Street Energy Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Hull Street Energy has acquired 8 companies.

Hull Street Energy’s most common sectors for investment arerenewable energy (50%) and utilities (30%) . The Firm’s most common investment types include divestiture (80%) and buyout (lbo, mbo, mbi) (10%). In total, Hull Street Energy has invested in 7 US states. Its largest (disclosed) acquisition occurred in 2017 when it acquired Maxim Power for $106M.

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M&A Summary

  • M&A Total Activity10
    • M&A Buy Activity10
  • Total Sectors Invested 3
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 8
  • M&A Advisors 3

Hull Street Energy LLC

4920 Elm Street, Suite 205,
Bethesda, Maryland 20814
United States
(410) 685-7950
www.hullstreetenergy.com
info@hullstreet.com

Hull Street Energy is a private investment firm focused on the energy sector. Hull Street Energy invests in middle-market power companies that are strategically positioned for growth as North American fuel supply, generation, transmission, and behind-the-meter assets transition to support a more sustainable future. Hull Street seeks controlling equity investments in middle market energy opportunities including operating gas fired power plants, operating and late stage development renewable projects, electricity transmission and distribution assets, and demand side resources such as grid optimization, distributed generation, and customer supply businesses. Hull Street Energy was formed in 2014 and is based in Bethesda, Maryland.


Investment Criteria

Sectors of Interest: Energy Services and Equipment, Renewable Energy, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (2.0/yr) # - 2 - 2 1 5 10
vol $189M $189M
Sell (0.0/yr) # - - - - - - 0
  10

Most Recent M&A

Company Date Value Type
Crockett Cogeneration LP 2021-11-04 - Secondary Buyout
Crockett, California
Connecticut Municipal Electric Energy - AL Pierce Generation Facility 2021-10-06 - Divestiture
Wallingford, Connecticut
Waterbury Generation Facility 2021-06-10 - Divestiture
Waterbury, Connecticut
Foundation Solar Partners 2021-05-24 - Buyout (LBO, MBO, MBI)
Washington, District of Columbia · www.foundationsolarpartners.com
FirstLight Waterbury Generation LLC 2021-04-01 - Divestiture
Waterbury, Massachusetts
Gauley River Power Partners LLC 2020-05-11 - Divestiture
Summersville, West Virginia
NextEra Energy Resources LLC - Bayswater Energy Center 2019-02-06 - Divestiture
Far Rockaway, New York
NextEra Energy Resources LLC - Jamaica Bay Energy Center 2019-02-06 - Divestiture
Far Rockaway, New York
Eversource Energy - Nine Hydroelectric Facilities 2017-10-12 83M USD Divestiture
Springfield, Massachusetts
Maxim Power (USA), Inc. 2017-04-13 106M USD Divestiture
Carson City, Nevada
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Renewable Energy 5 (50%) 106M (56%) 5 (50%) 106M (56%)
Utilities 3 (30%) 83M (44%) 3 (30%) 83M (44%)
Energy Services and Equipment 2 (20%) - 2 (20%) -
Total 10 $189M 10 $189M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 10 (100%) 189M (100%) 10 (100%) 189M (100%)
  Massachusetts 2 (20%) 83M (44%) 2 (20%) 83M (44%)
  New York 2 (20%) - 2 (20%) -
  Connecticut 2 (20%) - 2 (20%) -
  Nevada 1 (10%) 106M (56%) 1 (10%) 106M (56%)
  District of Columbia 1 (10%) - 1 (10%) -
  California 1 (10%) - 1 (10%) -
  West Virginia 1 (10%) - 1 (10%) -
Total 10 $189M 10 $189M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Divestiture 8 (80%) 189M (100%) 8 (80%) 189M (100%)
Buyout (LBO, MBO, MBI) 1 (10%) - 1 (10%) -
Secondary Buyout 1 (10%) - 1 (10%) -
Total 10 $189M 10 $189M

Top M&A Advisors

Legal Deals
Troutman Pepper Hamilton Sanders LLP
6
Baker Botts LLP
2
Hogan Lovells
2

Deal Values

buy # Total
$100M to $1B 1 $106M
< $100M 1 $83M
TOTAL $189M
Largest Maxim Power (USA), Inc.
$106M (2017-04-13)

M&A Connections

Deals
Acquired from
Investor(s)
10%
1 (10%)
Strategic(s)
80%
8 (80%)

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