Stonepeak Mergers and Acquisitions Summary

Infrastructure Profile

In the last 3 years, Stonepeak has acquired 10 companies. It has also invested in 5 others.

Stonepeak’s most common sectors for investment areinfrastructure (16%) and communications (16%) . The Firm’s most common investment types include stake purchase (24%) and secondary buyout (18%). In total, Stonepeak has invested in 15 US states and 13 different countries. Its largest (disclosed) acquisition occurred in 2020 when it acquired Astound Broadband for $8.1B.

In the last 3 years, Stonepeak has exited 6 companies. The Firm’s most common exit type is secondary buyout (40%). Stonepeak’s largest (disclosed) exit occurred in 2024 when it sold WTG Midstream Holdings for $3.3B.

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M&A Summary

M&A Total Activity49
- M&A Buy Activity39
- M&A Sell Activity10
Total Sectors Invested 16
Total Countries Invested 13
M&A Buy/Sell Connections 23
M&A Advisors 14

Stonepeak

Stonepeak Partners LP

55 Hudson Yards 550 W 34th Street, 48th Floor,
New York, New York 10001
United States
(212) 907-5100
www.stonepeak.com

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

Transaction Criteria

Min

Max

Target Revenue

Target EBITDA

Investment Size

Enterprise Value

Year	≤ '19	'20	'21	'22	'23	'24	T
Buy (4.4/yr)	#	17	7	5	4	3	3	39
vol	$4.1B	$13.9B	$8.9B	$2.4B	$8.6B	$1.3B	$39.2B
Sell (1.2/yr)	#	4	-	3	1	-	2	10
vol	$225M					$3.3B	$3.5B
	49

Year

≤ '19

'20

'21

'22

'23

'24

Buy (4.4/yr)

vol

$4.1B

$13.9B

$8.9B

$2.4B

$8.6B

$1.3B

$39.2B

Sell (1.2/yr)

vol

$225M

$3.3B

$3.5B

Company	Date	Value	Type
Fleet Companies	2024-11-18	-	Buyout (LBO, MBO, MBI)
Memphis, Tennessee · www.fleetequip.com
Lineage, Inc.	2024-07-26	-	IPO
Novi, Michigan · www.lineagelogistics.com
The AA Group	2024-07-26	-	Growth Capital
Basingstoke , United Kingdom · www.theaacorporate.com
Arvida Group Ltd.	2024-07-21	1.3B USD	Going Private
Auckland, New Zealand · www.arvida.co.nz
WTG Midstream Holdings LLC	2024-05-28	3.3B USD	Trade Sale
Midland, Texas · www.wtgmidstream.com
Textainer Group Holdings Ltd.	2023-10-22	7.4B USD	Going Private
Hamilton, Bermuda · www.textainer.com
Logistec Corp.	2023-10-16	1.2B USD	Going Private
Montreal, Quebec · www.logistec.com
Cellnex Nordics	2023-09-29	-	Stake Purchase
, Sweden
Madison Energy Infrastructure	2022-12-20	-	Secondary Sale
New York, New York · www.madisonei.com
GeelongPort Pty Ltd.	2022-11-20	-	Buyout (LBO, MBO, MBI)
North Geelong, Australia · www.geelongport.com.au
View All >>

Company

Date

Value

Type

Fleet Companies

2024-11-18

Buyout (LBO, MBO, MBI)

Memphis, Tennessee · www.fleetequip.com

Lineage, Inc.

2024-07-26

IPO

Novi, Michigan · www.lineagelogistics.com

The AA Group

2024-07-26

Growth Capital

Basingstoke , United Kingdom · www.theaacorporate.com

Arvida Group Ltd.

2024-07-21

1.3B USD

Going Private

Auckland, New Zealand · www.arvida.co.nz

WTG Midstream Holdings LLC

2024-05-28

3.3B USD

Trade Sale

Midland, Texas · www.wtgmidstream.com

Textainer Group Holdings Ltd.

2023-10-22

7.4B USD

Going Private

Hamilton, Bermuda · www.textainer.com

Logistec Corp.

2023-10-16

1.2B USD

Going Private

Montreal, Quebec · www.logistec.com

Cellnex Nordics

2023-09-29

Stake Purchase

, Sweden

Madison Energy Infrastructure

2022-12-20

Secondary Sale

New York, New York · www.madisonei.com

GeelongPort Pty Ltd.

2022-11-20

Buyout (LBO, MBO, MBI)

North Geelong, Australia · www.geelongport.com.au

View All >>

Company	Acquired	Add-On/Sale	Date	#
Astound Broadband	2020-11-01	WideOpenWest, Inc. - Chicago, Evansville & Anne Arundel Service Areas	2021-06-30	3
Princeton, New Jersey · www.astound.com	Englewood, Colorado
euNetworks Group Ltd.	2017-11-06	The Loop Manchester Ltd.	2020-12-31	2
London, United Kingdom · www.eunetworks.com	Manchester, United Kingdom · www.theloopmanchester.co.uk
Astound Broadband	2020-11-01	Grande Communications Networks LLC	2020-11-01	2
Princeton, New Jersey · www.astound.com	San Marcos, Texas · www.mygrande.com
Xplornet Communications, Inc.	2020-02-27	Corridor Communications, Inc.	2020-10-01	3
Woodstock, New Brunswick · www.xplornet.com	Calgary, Alberta · www.cciwireless.ca
Cologix, Inc.	2017-02-02	vXchnge Operating LLC - Minneapolis Data Center	2020-08-20	3
Denver, Colorado · www.cologix.com	Minneapolis, Minnesota
Oryx Midstream Services LLC	2019-04-02	Reliance Gathering LLC	2019-11-12	1
Midland, Texas · www.oryxmidstream.com	Midland, Texas

Company

Acquired

Add-On/Sale

Date

Astound Broadband

2020-11-01

WideOpenWest, Inc. - Chicago, Evansville & Anne Arundel Service Areas

2021-06-30

Princeton, New Jersey · www.astound.com

Englewood, Colorado

euNetworks Group Ltd.

2017-11-06

The Loop Manchester Ltd.

2020-12-31

London, United Kingdom · www.eunetworks.com

Manchester, United Kingdom · www.theloopmanchester.co.uk

Astound Broadband

2020-11-01

Grande Communications Networks LLC

2020-11-01

Princeton, New Jersey · www.astound.com

San Marcos, Texas · www.mygrande.com

Xplornet Communications, Inc.

2020-02-27

Corridor Communications, Inc.

2020-10-01

Woodstock, New Brunswick · www.xplornet.com

Calgary, Alberta · www.cciwireless.ca

Cologix, Inc.

2017-02-02

vXchnge Operating LLC - Minneapolis Data Center

2020-08-20

Denver, Colorado · www.cologix.com

Minneapolis, Minnesota

Oryx Midstream Services LLC

2019-04-02

Reliance Gathering LLC

2019-11-12

Midland, Texas · www.oryxmidstream.com

Midland, Texas

Sector	Current #	Value	All-time #	Value
Communications	6 (20%)	11.3B (29%)	6 (15%)	11.3B (29%)
Infrastructure	4 (13%)	-	6 (15%)	-
Transportation	4 (13%)	7.4B (19%)	4 (10%)	7.4B (19%)
Information Technology	4 (13%)	-	4 (10%)	-
Business Services	3 (10%)	8.7B (22%)	3 (8%)	8.7B (22%)
Energy Services and Equipment	-	-	3 (8%)	-
Renewable Energy	2 (7%)	-	3 (8%)	-
Real Estate	1 (3%)	-	2 (5%)	-
Insurance	1 (3%)	5.8B (15%)	1 (3%)	5.8B (15%)
Oil/Gas Exploration	1 (3%)	3.6B (9%)	1 (3%)	3.6B (9%)
Safety/Security	1 (3%)	2.4B (6%)	1 (3%)	2.4B (6%)
Automotive	1 (3%)	-	1 (3%)	-
Construction	-	-	1 (3%)	-
Education	1 (3%)	-	1 (3%)	-
Healthcare Services	1 (3%)	-	1 (3%)	-
Utilities	-	-	1 (3%)	-
Total	30	$39.2B	39	$39.2B

Sector

Current #

Value

All-time #

Value

Communications

6 (20%)

11.3B (29%)

6 (15%)

11.3B (29%)

Infrastructure

4 (13%)

6 (15%)

Transportation

4 (13%)

7.4B (19%)

4 (10%)

7.4B (19%)

Information Technology

4 (13%)

4 (10%)

Business Services

3 (10%)

8.7B (22%)

3 (8%)

8.7B (22%)

Energy Services and Equipment

3 (8%)

Renewable Energy

2 (7%)

3 (8%)

Real Estate

1 (3%)

2 (5%)

Insurance

1 (3%)

5.8B (15%)

1 (3%)

5.8B (15%)

Oil/Gas Exploration

1 (3%)

3.6B (9%)

1 (3%)

3.6B (9%)

Safety/Security

1 (3%)

2.4B (6%)

1 (3%)

2.4B (6%)

Automotive

1 (3%)

Construction

1 (3%)

Education

1 (3%)

Healthcare Services

1 (3%)

Utilities

1 (3%)

Total

$39.2B

State/Country	Current #	Value	All-time #	Value
United States	13 (43%)	14.1B (36%)	21 (54%)	14.1B (36%)
	Texas	3 (10%)	3.6B (9%)	4 (10%)	3.6B (9%)
	Florida	2 (7%)	-	3 (8%)	-
	New Jersey	2 (7%)	8.1B (21%)	2 (5%)	8.1B (21%)
	Nebraska	1 (3%)	2.4B (6%)	1 (3%)	2.4B (6%)
	Virginia	1 (3%)	-	1 (3%)	-
	Tennessee	1 (3%)	-	1 (3%)	-
	New Mexico	1 (3%)	-	1 (3%)	-
	Massachusetts	1 (3%)	-	1 (3%)	-
	Colorado	1 (3%)	-	1 (3%)	-
	Wyoming	-	-	1 (3%)	-
	Washington	-	-	1 (3%)	-
	New York	-	-	1 (3%)	-
	Michigan	-	-	1 (3%)	-
	Illinois	-	-	1 (3%)	-
	California	-	-	1 (3%)	-
United Kingdom	4 (13%)	5.8B (15%)	4 (10%)	5.8B (15%)
Bermuda	2 (7%)	13.6B (35%)	3 (8%)	13.6B (35%)
Canada	2 (7%)	1.2B (3%)	2 (5%)	1.2B (3%)
	Quebec	1 (3%)	1.2B (3%)	1 (3%)	1.2B (3%)
	New Brunswick	1 (3%)	-	1 (3%)	-
Brazil	1 (3%)	2.7B (7%)	1 (3%)	2.7B (7%)
New Zealand	1 (3%)	1.3B (3%)	1 (3%)	1.3B (3%)
Netherlands	1 (3%)	550M (1%)	1 (3%)	550M (1%)
Australia	1 (3%)	-	1 (3%)	-
Guam	1 (3%)	-	1 (3%)	-
Japan	1 (3%)	-	1 (3%)	-
Singapore	1 (3%)	-	1 (3%)	-
Sweden	1 (3%)	-	1 (3%)	-
Taiwan	1 (3%)	-	1 (3%)	-
Total	30	$39.2B	39	$39.2B

State/Country

Current #

Value

All-time #

Value

United States

13 (43%)

14.1B (36%)

21 (54%)

14.1B (36%)

Texas

3 (10%)

3.6B (9%)

4 (10%)

3.6B (9%)

Florida

2 (7%)

3 (8%)

New Jersey

2 (7%)

8.1B (21%)

2 (5%)

8.1B (21%)

Nebraska

1 (3%)

2.4B (6%)

1 (3%)

2.4B (6%)

Virginia

1 (3%)

Tennessee

1 (3%)

New Mexico

1 (3%)

Massachusetts

1 (3%)

Colorado

1 (3%)

Wyoming

1 (3%)

Washington

1 (3%)

New York

1 (3%)

Michigan

1 (3%)

Illinois

1 (3%)

California

1 (3%)

United Kingdom

4 (13%)

5.8B (15%)

4 (10%)

5.8B (15%)

Bermuda

2 (7%)

13.6B (35%)

3 (8%)

13.6B (35%)

Canada

2 (7%)

1.2B (3%)

2 (5%)

1.2B (3%)

Quebec

1 (3%)

1.2B (3%)

1 (3%)

1.2B (3%)

New Brunswick

1 (3%)

Brazil

1 (3%)

2.7B (7%)

1 (3%)

2.7B (7%)

New Zealand

1 (3%)

1.3B (3%)

1 (3%)

1.3B (3%)

Netherlands

1 (3%)

550M (1%)

1 (3%)

550M (1%)

Australia

1 (3%)

Guam

1 (3%)

Japan

1 (3%)

Singapore

1 (3%)

Sweden

1 (3%)

Taiwan

1 (3%)

Total

$39.2B

Type	Current #	Value	All-time #	Value
Stake Purchase	6 (20%)	-	9 (23%)	-
Secondary Buyout	6 (20%)	11.7B (30%)	7 (18%)	11.7B (30%)
Going Private	5 (17%)	21.9B (56%)	5 (13%)	21.9B (56%)
Buyout (LBO, MBO, MBI)	5 (17%)	550M (1%)	5 (13%)	550M (1%)
Growth Capital	3 (10%)	-	5 (13%)	-
Divestiture	3 (10%)	5.1B (13%)	3 (8%)	5.1B (13%)
Consolidation	1 (3%)	-	2 (5%)	-
Joint Venture	-	-	2 (5%)	-
Recapitalization	1 (3%)	-	1 (3%)	-
Total	30	$39.2B	39	$39.2B

Type

Current #

Value

All-time #

Value

Stake Purchase

6 (20%)

9 (23%)

Secondary Buyout

6 (20%)

11.7B (30%)

7 (18%)

11.7B (30%)

Going Private

5 (17%)

21.9B (56%)

5 (13%)

21.9B (56%)

Buyout (LBO, MBO, MBI)

5 (17%)

550M (1%)

5 (13%)

550M (1%)

Growth Capital

3 (10%)

5 (13%)

Divestiture

3 (10%)

5.1B (13%)

3 (8%)

5.1B (13%)

Consolidation

1 (3%)

2 (5%)

Joint Venture

2 (5%)

Recapitalization

1 (3%)

Total

$39.2B

Type	Total #	Value
Secondary Sale	4 (40%)	-
Trade Sale - Public Company	2 (20%)	3.5B (100%)
Stake Sale	2 (20%)	-
Divestiture	1 (10%)	-
IPO	1 (10%)	-
Total	10	$3.5B

Type

Total #

Value

Secondary Sale

4 (40%)

Trade Sale - Public Company

2 (20%)

3.5B (100%)

Stake Sale

2 (20%)

Divestiture

1 (10%)

IPO

1 (10%)

Total

$3.5B

Financial	Deals
Jefferies	1
Lazard Ltd.	1
Barclays Investment Bank	1

Financial

Deals

Jefferies

Lazard Ltd.

Barclays Investment Bank

Legal	Deals
Simpson Thacher & Bartlett	7
Sidley	3
Bell Gully	1

Legal

Deals

Simpson Thacher & Bartlett

Sidley

Bell Gully

buy	#	Total
> $1B	9	$38.7B
$100M to $1B	1	$550M
TOTAL	$39.2B
Largest	Astound Broadband $8.1B (2020-11-01)

buy

Total

> $1B

$38.7B

$100M to $1B

$550M

TOTAL

$39.2B

Largest

Astound Broadband
$8.1B (2020-11-01)

sell	#	Total
> $1B	1	$3.3B
$100M to $1B	1	$225M
TOTAL	$3.5B
Largest	WTG Midstream Holdings LLC $3.3B (2024-05-28)

sell

Total

> $1B

$3.3B

$100M to $1B

$225M

TOTAL

$3.5B

Largest

WTG Midstream Holdings LLC
$3.3B (2024-05-28)

		Deals
Acquired from
Investor(s)	18%	7 (18%)
Strategic(s)	10%	4 (10%)
Exited to
Investor(s)	50%	5 (50%)
Strategic(s)	40%	4 (40%)

Deals

Acquired from

Investor(s)

7 (18%)

Strategic(s)

4 (10%)

Exited to

Investor(s)

5 (50%)

Strategic(s)

4 (40%)

FAQ

When was Stonepeak founded?

Stonepeak was founded in 2011.

What type of investor is Stonepeak?

Stonepeak is an infrastructure investor.

Where is Stonepeak headquartered?

Stonepeak is headquartered in New York, New York.

How much capital does Stonepeak have under management?

Stonepeak has 57.1B USD under management.

Stonepeak Mergers and Acquisitions Summary

Infrastructure Profile

M&A Summary

Stonepeak

Stonepeak Partners LP

Investment Criteria

M&A Summary

Buy vs Sell

Most Recent M&A

Portfolio M&A

M&A by Sector

Acquisitions By Geo

Acquisitions by Deal Type

Exits by Deal Type

Top M&A Advisors

Deal Values

M&A Connections

Investor Summary

Investor Type

Size

PE Assets

Established

Specialist/Generalist

Leadership

Michael Dorrell

Jack Howell

Luke Taylor

Brenden Woods

Darren Keogh

FAQ

When was Stonepeak founded?

What type of investor is Stonepeak?

Where is Stonepeak headquartered?

How much capital does Stonepeak have under management?

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