M&A Deal Summary |
|
|---|---|
| Date | 2004-07-21 |
| Target | Texas Genco Holdings |
| Sector | Utilities |
| Buyer(s) |
Hellman & Friedman
KKR The Blackstone Group TPG |
| Sellers(s) | CenterPoint Energy |
| Deal Type | Divestiture |
| Deal Value | 3.7B USD |
| Advisor(s) | RBC Capital Markets (Financial) Haynes and Boone LLP (Legal) |
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| Category | Private Equity Firm |
|---|---|
| Founded | 1984 |
| PE ASSETS | 50.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
Hellman & Friedman (H&F) is a large private equity firm on the West Coast of the US. H&F focuses on control and minority investments in a variety of transaction structures and will consider opportunities across the US and Europe. H&F seeks buyouts and business in need of restructurings that operate in defensible markets with predictable revenue and earnings growth. Target sectors include financial services, healthcare, indusrial, energy, insurance, media, marketing, professional services, software, and information services. H&F's target equity investment size is $300 million to $1 billion. Hellman & Friedman was formed in 1984 and has offices in San Francisco, New York City, and London.
| DEAL STATS | # |
|---|---|
| Overall | 15 of 87 |
| Sector (Utilities) | 2 of 2 |
| Type (Divestiture) | 1 of 6 |
| State (Texas) | 2 of 7 |
| Country (United States) | 10 of 60 |
| Year (2004) | 2 of 4 |
| Size (of disclosed) | 10 of 39 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-07-21 |
NRG
Houston, Texas, United States NRG is a wholesale power generation company. NRG engages in the ownership, development, construction, and operation of power generation facilities; the transacting in and trading of fuel and transportation services; and the trading of energy, capacity and related products in the US and select international markets. NRG was formed in 1989 and is based in Houston, Texas. |
Buy | $3.7B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-07-22 |
Blackbaud
Charleston, South Carolina, United States Blackbaud is a provider of nonprofit software and services. Blackbaud offers a full spectrum of cloud-based and on-premise software solutions and related services for organizations of all sizes including: fundraising, eMarketing, advocacy, constituent relationship management (CRM), financial management, payment solutions, analytics, education solutions, and vertical-specific solutions. Blackbaud was incorporated in 1981 and is based in Charleston, South Carolina. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1976 |
| PE ASSETS | 510.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.
| DEAL STATS | # |
|---|---|
| Overall | 27 of 430 |
| Sector (Utilities) | 2 of 8 |
| Type (Divestiture) | 9 of 49 |
| State (Texas) | 4 of 23 |
| Country (United States) | 18 of 189 |
| Year (2004) | 5 of 9 |
| Size (of disclosed) | 30 of 94 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-07-21 |
NRG
Houston, Texas, United States NRG is a wholesale power generation company. NRG engages in the ownership, development, construction, and operation of power generation facilities; the transacting in and trading of fuel and transportation services; and the trading of energy, capacity and related products in the US and select international markets. NRG was formed in 1989 and is based in Houston, Texas. |
Buy | $3.7B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-08-01 |
Stabilus
Luxembourg City, Luxembourg Stabilus is a manufacturer of gas springs, hydraulic vibration dampers, continuously adjustable door stays, and automatic opening and closing systems for doors, trunk lids, and tailgates. Stabilus was incorporated in 1934 and is headquarters in Luxembourg City, Luxembourg. |
Sell | - |
| Category | Private Equity Firm |
|---|---|
| Founded | 1987 |
| PE ASSETS | 131.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.
| DEAL STATS | # |
|---|---|
| Overall | 74 of 321 |
| Sector (Utilities) | 2 of 4 |
| Type (Divestiture) | 6 of 32 |
| State (Texas) | 7 of 32 |
| Country (United States) | 56 of 202 |
| Year (2004) | 8 of 13 |
| Size (of disclosed) | 38 of 167 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-07-21 |
NRG
Houston, Texas, United States NRG is a wholesale power generation company. NRG engages in the ownership, development, construction, and operation of power generation facilities; the transacting in and trading of fuel and transportation services; and the trading of energy, capacity and related products in the US and select international markets. NRG was formed in 1989 and is based in Houston, Texas. |
Buy | $3.7B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-08-09 |
FiberNet
Budapest, Hungary FiberNet is the largest independent cable television ("CATV") company in Hungary. |
Sell | $72M |
| Category | Private Equity Firm |
|---|---|
| Founded | 1992 |
| PE ASSETS | 137.0B USD |
| Size | Mega |
| Type | Sector Agnostic |
TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.
| DEAL STATS | # |
|---|---|
| Overall | 50 of 401 |
| Sector (Utilities) | 2 of 5 |
| Type (Divestiture) | 9 of 36 |
| State (Texas) | 7 of 35 |
| Country (United States) | 36 of 269 |
| Year (2004) | 6 of 10 |
| Size (of disclosed) | 23 of 100 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-07-21 |
NRG
Houston, Texas, United States NRG is a wholesale power generation company. NRG engages in the ownership, development, construction, and operation of power generation facilities; the transacting in and trading of fuel and transportation services; and the trading of energy, capacity and related products in the US and select international markets. NRG was formed in 1989 and is based in Houston, Texas. |
Buy | $3.7B |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2004-08-02 |
PPOM
Southfield, Michigan, United States PPOM LLC preferred provider organization (PPO) that operated in the midwestern states of Illinois, Indiana, Kentucky, Michigan, Ohio, and Wisconsin. PPOM also provided vision and dental plans. |
Sell | - |
| Category | Company |
|---|---|
| Founded | 1866 |
| Sector | Utilities |
| Employees | 8,986 |
| Revenue | 9.3B USD (2022) |
CenterPoint Energy is a domestic energy delivery company that includes electric transmission & distribution, natural gas distribution and energy services operations. CenterPoint Energy owns and operates natural gas distribution systems. CenterPoint also offers variable and fixed-price physical natural gas supplies primarily to commercial and industrial customers and gas utilities. CenterPoint Energy was incorporated in 1866 and is based in Houston, Texas.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 5 |
| Sector (Utilities) | 1 of 3 |
| Type (Divestiture) | 1 of 5 |
| State (Texas) | 1 of 3 |
| Country (United States) | 1 of 5 |
| Year (2004) | 1 of 1 |
| Size (of disclosed) | 1 of 4 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2005-06-01 |
Satolutions
Midland, Texas, United States Satolutions, Inc. is a provider of electric, gas and sanitary services. |
Buy | - |
