I Squared Capital Mergers and Acquisitions Summary

Infrastructure Profile

In the last 3 years, I Squared Capital has acquired 12 companies.

I Squared Capital’s most common sectors for investment areutilities (16%) and renewable energy (12%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (27%) and divestiture (27%). In total, I Squared Capital has invested in 7 US states and 10 different countries. Its largest (disclosed) acquisition occurred in 2021 when it acquired Aggreko for $3.5B.

The Firm’s most common exit type is trade sale (100%). I Squared Capital’s largest (disclosed) exit occurred in 2018 when it sold Lincoln Clean Energy for $580M.

Join Mergr to view I Squared Capital’s full profile and discover more small infrastructure investors just like it.

M&A Summary

  • M&A Total Activity28
    • M&A Buy Activity26
    • M&A Sell Activity2
  • Total Sectors Invested 11
  • Total Countries Invested 10
  • M&A Buy/Sell Connections 11
  • M&A Advisors 14

I Squared Capital

410 Park Avenue, Suite 830,
New York, New York 10022
United States
www.isquaredcapital.com

I Squared Capital is a global infrastructure investment manager focusing on energy, utilities, and transportation assets in North America, Europe, and select high growth economies. I Squared Capital was established in 2012 and is headquartered in New York City.


Investment Criteria

Sectors of Interest: Infrastructure

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

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Nordic, Asia/Pacific

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

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (3.2/yr) # 10 4 6 1 3 2 26
vol $2.4B $2.2B $4.5B $9.0B
Sell (0.0/yr) # 2 - - - - - 2
vol $580M $580M
  28

Most Recent M&A

Company Date Value Type
Priority Power Management LLC 2024-07-30 - Secondary Buyout
Arlington, Texas · www.prioritypower.net
WOW Logistics 2024-03-15 - Buyout (LBO, MBO, MBI)
Neenah, Wisconsin · www.wowlogistics.com
Arriva plc 2023-10-19 - Divestiture
Sunderland, United Kingdom · www.arriva.co.uk
Enva Group 2023-04-21 - Secondary Buyout
, Ireland · www.enva.com
Whistler Pipeline LLC 2023-02-16 - Secondary Buyout
, United States
VLS Recovery Services, Inc. 2022-08-18 - Secondary Buyout
Houston, Texas · www.vlses.com
SOILCO 2021-10-06 - Buyout (LBO, MBO, MBI)
Kembla Grange, Australia · www.soilco.com.au
Aggreko Ltd. 2021-08-16 3.5B GBP Going Private
Dumbarton, United Kingdom · www.aggreko.com
KIO Networks 2021-08-02 - Buyout (LBO, MBO, MBI)
, Mexico · www.kionetworks.com
Ezee Fiber 2021-07-29 - Buyout (LBO, MBO, MBI)
, United States
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Aggreko Ltd. 2021-08-16 Infiniti Energy 2024-07-08 2
Dumbarton, United Kingdom · www.aggreko.com Howell, New Jersey · www.infinitienergy.com
Atlantic Power Corp. 2021-01-14 Morris Cogeneration LLC 2023-12-19 1
Dedham, Massachusetts · www.atlanticpower.com Morris, Illinois
VLS Recovery Services, Inc. 2022-08-18 Salt River Extraction LLC 2023-02-08 3
Houston, Texas · www.vlses.com Phoenix, Arizona · www.sretransport.com
Aggreko Ltd. 2021-08-16 Resolute Industrial LLC 2022-12-28 1
Dumbarton, United Kingdom · www.aggreko.com Indianapolis, Indiana · www.resolute-industrial.com
TIP Trailer Services Management B.V. 2018-08-07 Ryder System - Trailer Leasing & Maintenance Business 2022-04-13 3
Amsterdam, Netherlands · www.tipeurope.com Miami, Florida
TIP Trailer Services Management B.V. 2018-08-07 Ryder Ltd. - Trailer Leasing and Servicing Business 2022-04-12 2
Amsterdam, Netherlands · www.tipeurope.com Birmingham, United Kingdom

M&A by Sector

Sector Current # Value All-time # Value
Utilities 4 (16%) 2.1B (24%) 4 (15%) 2.1B (24%)
Environmental 3 (12%) - 3 (12%) -
Information Technology 3 (12%) - 3 (12%) -
Renewable Energy 2 (8%) - 3 (12%) -
Transportation 3 (12%) - 3 (12%) -
Infrastructure 2 (8%) 2.2B (24%) 2 (8%) 2.2B (24%)
Energy Services and Equipment 2 (8%) 1.2B (13%) 2 (8%) 1.2B (13%)
Business Services 2 (8%) - 2 (8%) -
Oil/Gas Exploration 2 (8%) - 2 (8%) -
Test/Measurement Equipment 1 (4%) 3.5B (39%) 1 (4%) 3.5B (39%)
Communications 1 (4%) - 1 (4%) -
Total 25 $9.0B 26 $9.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 10 (40%) 3.1B (34%) 11 (42%) 3.1B (34%)
  Texas 3 (12%) - 3 (12%) -
  Virginia 2 (8%) 2.2B (24%) 2 (8%) 2.2B (24%)
  Massachusetts 1 (4%) 961M (11%) 1 (4%) 961M (11%)
  Ohio 1 (4%) - 1 (4%) -
  Wisconsin 1 (4%) - 1 (4%) -
  Illinois - - 1 (4%) -
United Kingdom 3 (12%) 3.5B (39%) 3 (12%) 3.5B (39%)
Singapore 3 (12%) - 3 (12%) -
Peru 2 (8%) 2.4B (26%) 2 (8%) 2.4B (26%)
India 2 (8%) - 2 (8%) -
France 1 (4%) - 1 (4%) -
Australia 1 (4%) - 1 (4%) -
Ireland 1 (4%) - 1 (4%) -
Mexico 1 (4%) - 1 (4%) -
Netherlands 1 (4%) - 1 (4%) -
Total 25 $9.0B 26 $9.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Divestiture 7 (28%) 4.5B (50%) 7 (27%) 4.5B (50%)
Buyout (LBO, MBO, MBI) 7 (28%) - 7 (27%) -
Secondary Buyout 6 (24%) - 6 (23%) -
Growth Capital 2 (8%) - 3 (12%) -
Going Private 2 (8%) 4.5B (50%) 2 (8%) 4.5B (50%)
Stake Purchase 1 (4%) - 1 (4%) -
Total 25 $9.0B 26 $9.0B

Exits by Deal Type

Type Total # Value
Trade Sale 2 (100%) 580M (100%)
Total 2 $580M

Top M&A Advisors

Financial Deals
UBS Investment Bank
1
Morgan Stanley
1
Jefferies
1
Legal Deals
Kirkland & Ellis
4
Latham & Watkins
2
White & Case
2

Deal Values

buy # Total
> $1B 4 $8.1B
$100M to $1B 1 $961M
TOTAL $9.0B
Largest Aggreko Ltd.
$3.5B (2021-08-16)
sell # Total
$100M to $1B 1 $580M
TOTAL $580M
Largest Lincoln Clean Energy LLC
$580M (2018-08-09)

M&A Connections

Deals
Acquired from
Investor(s)
19%
5 (19%)
Strategic(s)
31%
8 (31%)
Exited to
Strategic(s)
100%
2 (100%)

FAQ

When was I Squared Capital founded?

I Squared Capital was founded in 2012.

What type of investor is I Squared Capital?

I Squared Capital is an infrastructure investor.

Where is I Squared Capital headquartered?

I Squared Capital is headquartered in New York, New York.

 Subscribe to unlock this and 207,963
investor and company profiles

Sign-up today to get full access

  • check  Unlimited Searches
  • check  Unlimited Profile Views
  • check  Build and Export Lists of
    • PE Backed Companies
    • Direct Investors & Acquirers
    • Advisors
    • Deals
    • & More

What's Mergr?

We built Mergr to save people the arduous and time-consuming process of tracking when companies are bought, sold, and who currently owns them.

Every day, new opportunities emerge around M&A and we help professionals of all types comb through transactions, investors, and corporate acquirers via an easy-to-use web database that is accessible to anyone.

Try us for 1 week free today!

Mergr, the Easiest-to-Use PE and M&A DB


Key Benefits

  • Stay informed on events in your industry
  • M&A research that takes seconds (not all afternoon)
  • Better understand your customers and prospects
  • Discover active buyers (or sellers)
Search
  • 4.6K Private Equity Firms
  • 200K M&A Transactions
  • 203K Companies Involved in M&A
    (Buyer, Seller, or Target)
  • 3.6K M&A Advisors
    (Investment Banks and Law Firms)
  • 81K M&A Contacts
    (PE and M&A Advisors)

Ready to try?

Join FREE for 1 Week

No obligation. Cancel anytime.