Riverstone Holdings Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Riverstone Holdings has invested in 1 company.

Riverstone Holdings’ most common sectors for investment areoil/gas exploration (40%) and energy services and equipment (26%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (50%) and growth capital (18%). In total, Riverstone Holdings has invested in 14 US states and 10 different countries. Its largest (disclosed) acquisition occurred in 2016 when it acquired Talen Energy for $5.2B.

In the last 3 years, Riverstone Holdings has exited 3 companies. The Firm’s most common exit type is trade sale (53%). Riverstone Holdings’ largest (disclosed) exit occurred in 2022 when it sold Lucid Energy Group II for $3.6B.

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M&A Summary

  • M&A Total Activity163
    • M&A Buy Activity106
    • M&A Sell Activity57
  • Total Sectors Invested 16
  • Total Countries Invested 10
  • M&A Buy/Sell Connections 55
  • M&A Advisors 9

Riverstone Holdings

Riverstone Holdings LLC

712 Fifth Avenue, 36st Floor,
New York, New York 10019
United States
(212) 993-0076
www.riverstonellc.com

Riverstone Holdings is a large specialist asset management and private equity firm focused on opportunities in the energy and power industry. Specific areas of interest include oil & gas exploration, midstream transportation/logistics, electric generation, energy & power service, power infrastructure, and energy & power technology. Riverstone Holdings was formed in 2000 and is based in New York, New York.


Investment Criteria

Sectors of Interest: Automotive, Business Services, Consumer Services, Energy Services and Equipment, Engineering, Information Technology, Infrastructure, Machinery, Manufacturing, Marine, Metals/Mining, Oil/Gas Exploration, Renewable Energy, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Special Situations/Distressed

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Nordic, Asia/Pacific, Australia/New Zealand, Latin/South America

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 (0.4/yr) # 104 1 - 1 - - 106
vol $9.4B $2.7B $12.1B
Sell (1.0/yr) # 52 2 - 1 - 2 57
vol $18.7B $3.6B $22.3B
  163

Most Recent M&A

Company Date Value Type
TrailStone LP 2024-06-10 - Trade Sale
London, United Kingdom · www.trailstonegroup.com
T-REX Group, Inc. 2024-04-24 - Trade Sale
New York, New York · www.trexgroup.com
Lucid Energy Group II LLC 2022-06-16 3.6B USD Trade Sale
Dallas, Texas
T-REX Group, Inc. 2022-01-26 - Venture
New York, New York · www.trexgroup.com
Forsa Energy Gas Holdings Ltd. 2020-11-11 - Secondary Sale
Greenock, United Kingdom · www.forsaenergy.com
International-Matex Tank Terminals, Inc. 2020-11-09 2.7B USD Divestiture
New Orleans, Louisiana · www.imtt.com
Cuadrilla Resources Ltd. 2020-02-04 - Trade Sale
Manchester, United Kingdom · www.cuadrillaresources.uk
ILX Holdings LLC 2019-12-10 - Trade Sale
Houston, Texas
Ridley Terminals, Inc. 2019-07-01 - Buyout (LBO, MBO, MBI)
Prince Rupert, British Columbia · www.rti.ca
Enduro Resource Partners LLC 2018-05-16 - Bankruptcy
Fort Worth, Texas
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Talen Energy Corp. 2016-06-03 Talen Energy - Natural Gas Plants in Corpus Christi and Laredo 2024-03-27 6
Allentown, Pennsylvania · www.talenenergy.com Corpus Christi, Texas
International-Matex Tank Terminals, Inc. 2020-11-09 International-Matex Tank Terminals - Five Fuel Terminals 2023-11-01 2
New Orleans, Louisiana · www.imtt.com , United States
International-Matex Tank Terminals, Inc. 2020-11-09 International-Matex Tank Terminals - Georgia Terminals 2022-11-01 1
New Orleans, Louisiana · www.imtt.com Savannah, Georgia
ReEnergy Holdings LLC 2008-08-01 ReSource Waste Services LLC 2021-11-30 1
Albany, New York · www.reenergyholdings.com Albany, New York · www.resourcewasteservices.com
Centennial Resource Development LLC 2016-07-07 Centennial Resource Development LLC - Produced Water Assets 2020-02-25 1
Delaware Basin, Texas Delaware Basin, Texas
Talen Energy Corp. 2016-06-03 B-G Mechanical Contractors, Inc. 2017-09-15 5
Allentown, Pennsylvania · www.talenenergy.com Chicopee, Massachusetts · www.bgmechanical.com
Talen Energy Corp. 2016-06-03 Elmsford Sheet Metal Works, Inc. 2017-09-15 4
Allentown, Pennsylvania · www.talenenergy.com Cortland Manor, New York · www.elmsfordsheetmetal.com
Talen Energy Corp. 2016-06-03 Trystate Mechanical, Inc. 2017-09-15 3
Allentown, Pennsylvania · www.talenenergy.com Yonkers, New York · www.trystatemech.com
Talen Energy Corp. 2016-06-03 H.T. Lyons, Inc. 2017-09-15 2
Allentown, Pennsylvania · www.talenenergy.com Allentown, Pennsylvania · www.htlyons.com
Talen Energy Corp. 2016-06-03 Fred Williams, Inc. 2017-09-15 1
Allentown, Pennsylvania · www.talenenergy.com Weymouth, Massachusetts · www.fwilliams.com

M&A by Sector

Sector Current # Value All-time # Value
Oil/Gas Exploration 8 (38%) 175M (2%) 42 (40%) 4.2B (35%)
Energy Services and Equipment 4 (19%) 2.7B (33%) 27 (25%) 2.7B (22%)
Renewable Energy 5 (24%) - 15 (14%) -
Utilities 1 (5%) 5.2B (65%) 4 (4%) 5.2B (43%)
Marine 1 (5%) - 3 (3%) -
Agriculture 1 (5%) - 2 (2%) -
Business Services - - 2 (2%) -
Machinery - - 2 (2%) -
Manufacturing - - 2 (2%) -
Automotive - - 1 (1%) -
Infrastructure - - 1 (1%) -
Internet Software and Services - - 1 (1%) -
Metals/Mining - - 1 (1%) -
Real Estate - - 1 (1%) -
Software - - 1 (1%) -
Transportation 1 (5%) - 1 (1%) -
Total 21 $8.1B 106 $12.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 15 (71%) 8.1B (100%) 78 (74%) 10.8B (89%)
  Texas 7 (33%) 175M (2%) 47 (44%) 2.4B (20%)
  California - - 5 (5%) -
  Colorado - - 4 (4%) 470M (4%)
  Pennsylvania 1 (5%) 5.2B (65%) 3 (3%) 5.2B (43%)
  Oklahoma 1 (5%) - 3 (3%) -
  Maryland 1 (5%) - 3 (3%) -
  Connecticut 1 (5%) - 3 (3%) -
  Louisiana 1 (5%) 2.7B (33%) 2 (2%) 2.7B (22%)
  North Carolina 1 (5%) - 2 (2%) -
  New York 1 (5%) - 2 (2%) -
  Virginia 1 (5%) - 1 (1%) -
  Missouri - - 1 (1%) -
  Illinois - - 1 (1%) -
  Florida - - 1 (1%) -
Canada 3 (14%) - 10 (9%) 625M (5%)
  Alberta 1 (5%) - 7 (7%) 625M (5%)
  Ontario 1 (5%) - 2 (2%) -
  British Columbia 1 (5%) - 1 (1%) -
United Kingdom - - 8 (8%) 200M (2%)
Mexico 1 (5%) - 2 (2%) 525M (4%)
Brazil 1 (5%) - 2 (2%) -
Netherlands - - 2 (2%) -
Argentina 1 (5%) - 1 (1%) -
China - - 1 (1%) -
Greece - - 1 (1%) -
Switzerland - - 1 (1%) -
Domestic 15 (71%) 8.1B (100%) 78 (74%) 10.8B (89%)
Cross-border 6 (29%) - 28 (26%) 1.4B (11%)
Total 21 $8.1B 106 $12.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 9 (43%) - 52 (49%) 1.4B (11%)
Growth Capital 3 (14%) - 19 (18%) -
Stake Purchase 2 (10%) - 11 (10%) 470M (4%)
Secondary Buyout 1 (5%) - 9 (8%) 2.0B (16%)
Divestiture 2 (10%) 2.9B (35%) 6 (6%) 3.1B (26%)
Venture 1 (5%) - 3 (3%) -
Going Private 1 (5%) 5.2B (65%) 2 (2%) 5.2B (43%)
Consolidation 1 (5%) - 1 (1%) -
Joint Venture 1 (5%) - 1 (1%) -
PIPE - - 1 (1%) -
Recapitalization - - 1 (1%) -
Total 21 $8.1B 106 $12.1B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 21 (37%) 20.2B (90%)
IPO 14 (25%) -
Trade Sale 10 (18%) 1.3B (6%)
Secondary Sale 6 (11%) 320M (1%)
Bankruptcy 3 (5%) -
Merger 2 (4%) 532M (2%)
Unknown 1 (2%) -
Total 57 $22.3B

Top M&A Advisors

Financial Deals
Goldman Sachs
 2
Evercore Group
 1
Jefferies
 1
Legal Deals
Latham & Watkins
 6
Vinson & Elkins
 3
Wachtell, Lipton, Rosen & Katz
 1

Deal Values

buy # Total
> $1B 3 $9.5B
$100M to $1B 7 $2.6B
TOTAL $12.1B
Largest Talen Energy Corp.
$5.2B (2016-06-03)
sell # Total
> $1B 7 $14.8B
$100M to $1B 12 $7.5B
TOTAL $22.3B
Largest Lucid Energy Group II LLC
$3.6B (2022-06-16)

M&A Connections

Deals
Acquired from
Investor(s)
9%
10 (9%)
Strategic(s)
6%
6 (6%)
Exited to
Investor(s)
7%
4 (7%)
Strategic(s)
58%
33 (58%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

40.0B USD

Established

2000

Specialist/Generalist

Specialist

Leadership

David Leuschen

Co-Founder & Senior Managing Director

Pierre Lapeyre, Jr.

Co-Founder & Senior Managing Director

Francisco Salas

Managing Director

Jesal Shah

Managing Director

Juan Visoso

Managing Director

FAQ

When was Riverstone Holdings founded?

Riverstone Holdings was founded in 2000.

What type of investor is Riverstone Holdings?

Riverstone Holdings is a private equity firm.

Where is Riverstone Holdings headquartered?

Riverstone Holdings is headquartered in New York, New York.

How much capital does Riverstone Holdings have under management?

Riverstone Holdings has 40.0B USD under management.

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