Tenaska Capital Management Mergers and Acquisitions Summary

Private Equity Firm Profile

Tenaska Capital Management’s most common sectors for investment areenergy services and equipment (64%) and oil/gas exploration (28%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (60%) and divestiture (23%). In total, Tenaska Capital Management has invested in 14 US states. Its largest (disclosed) acquisition occurred in 2006 when it acquired Rio Nogales Power Project for $1.6B.

In the last 3 years, Tenaska Capital Management has exited 1 company. The Firm’s most common exit type is trade sale (60%). Tenaska Capital Management’s largest (disclosed) exit occurred in 2008 when it sold Holland Energy for $383M.

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M&A Summary

  • M&A Total Activity37
    • M&A Buy Activity22
    • M&A Sell Activity15
  • Total Sectors Invested 4
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 16
  • M&A Advisors 2

Tenaska Capital Management

Tenaska Capital Management LLC

14302 FNB Parkway,
Omaha, Nebraska 68154
United States
(402) 691-9700
www.tenaskacapital.com
info@tenaskacapital.com

Tenaska Capital Management (TCM) is the private equity affiliate of integrated energy company Tenaska. TCM was formed to leverage Tenaska's sector expertise to pursue opportunities for investment in the North American energy sector. Specific areas of interest include power generating plants; national providers of transmission and pipeline construction and maintenance services; and natural gas storage facilities. Tenaska Capital Management is based in Omaha, Nebraska.


Investment Criteria

Sectors of Interest: Energy Services and Equipment, Infrastructure, Oil/Gas Exploration, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Consolidation, Growth Capital, Stake Purchase, Joint Venture

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

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 (0.0/yr) # 22 - - - - - 22
vol $3.6B $3.6B
Sell (0.2/yr) # 14 - - 1 - - 15
vol $950M $950M
  37

Most Recent M&A

Company Date Value Type
Azure Midstream Co. LLC 2022-02-22 - Trade Sale
Katy, Texas · www.azuremidstream.com
Big Sandy Peaker Plant LLC 2016-01-01 - Unknown
Kenova, West Virginia
High Desert Power 2016-01-01 - Unknown
Victorville, California
Crete Energy Venture LLC 2015-01-01 - Unknown
Crete, Illinois
Lincoln Generating Facility LLC 2015-01-01 - Unknown
Manhattan, Illinois
New Covert Generating Company LLC 2015-01-01 - Unknown
Covert, Michigan
Rolling Hills Generating LLC 2015-01-01 - Unknown
Wilkesville, Ohio
US Power Generating Co. 2013-12-06 - Special Situations/Distressed
Stamford, Connecticut · www.uspowergen.com
Azure Midstream Co. LLC 2012-06-01 - Joint Venture
Katy, Texas · www.azuremidstream.com
Rio Nogales Power Project LP 2012-03-12 - Trade Sale
Seguin, Texas
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment - - 14 (64%) 1.7B (87%)
Oil/Gas Exploration - - 6 (27%) 250M (13%)
Renewable Energy - - 1 (5%) -
Utilities - - 1 (5%) -
Total - - 22 $2.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States - - 22 (100%) 3.6B (100%)
  Illinois - - 4 (18%) 1.6B (45%)
  Texas - - 4 (18%) 1.6B (45%)
  Oklahoma - - 2 (9%) 250M (7%)
  West Virginia - - 2 (9%) -
  Virginia - - 1 (5%) 89M (2%)
  Pennsylvania - - 1 (5%) -
  Ohio - - 1 (5%) -
  Nebraska - - 1 (5%) -
  Michigan - - 1 (5%) -
  Massachusetts - - 1 (5%) -
  Maryland - - 1 (5%) -
  Connecticut - - 1 (5%) -
  California - - 1 (5%) -
  Washington - - 1 (5%) -
Total - - 22 $3.6B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) - - 13 (59%) 1.6B (45%)
Divestiture - - 5 (23%) 1.7B (48%)
Joint Venture - - 2 (9%) 250M (7%)
Secondary Buyout - - 1 (5%) -
Special Situations/Distressed - - 1 (5%) -
Total - - 22 $3.6B

Exits by Deal Type

Type Total # Value
Trade Sale 8 (53%) 590M (62%)
Unknown 6 (40%) -
Trade Sale - Public Company 1 (7%) 360M (38%)
Total 15 $950M

Top M&A Advisors

Financial Deals
Goldman Sachs
1
Legal Deals
Chadbourne & Parke LLP
1

Deal Values

buy # Total
> $1B 2 $3.3B
$100M to $1B 1 $250M
< $100M 1 $89M
TOTAL $3.6B
Largest Rio Nogales Power Project LP
$1.6B (2006-10-11)
sell # Total
$100M to $1B 3 $950M
TOTAL $950M
Largest Holland Energy LLC
$383M (2008-04-15)

M&A Connections

Deals
Acquired from
Investor(s)
5%
1 (5%)
Strategic(s)
27%
6 (27%)
Exited to
Strategic(s)
60%
9 (60%)

FAQ

When was Tenaska Capital Management founded?

Tenaska Capital Management was founded in 2003.

What type of investor is Tenaska Capital Management?

Tenaska Capital Management is a private equity firm.

Where is Tenaska Capital Management headquartered?

Tenaska Capital Management is headquartered in Omaha, Nebraska.

How much capital does Tenaska Capital Management have under management?

Tenaska Capital Management has 3.2B USD under management.

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