M&A Deal Summary

Maxim Power Acquires Pittsfield Generating

On August 6, 2008, Maxim Power acquired renewable energy company Pittsfield Generating from GE Energy Financial Services for 52M USD

Acquisition Highlights
  • This is Maxim Power’s 5th transaction in the Renewable Energy sector.
  • This is Maxim Power’s largest (disclosed) transaction.
  • This is Maxim Power’s 4th transaction in the United States.
  • This is Maxim Power’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2008-08-06
Target Pittsfield Generating
Sector Renewable Energy
Buyer(s) Maxim Power
Sellers(s) GE Energy Financial Services
Deal Type Divestiture
Deal Value 52M USD

Target

Pittsfield Generating

Pittsfield, Massachusetts, United States
The Pittsfield generation facility is a 170 MW combined-cycle, dual-fuel (it has the flexibility to use natural gas or fuel oil) power plant that consists of three combustion turbine generators, three separately fired heat recovery boilers and an extraction/condensation steam turbine generator. The project began commercial generation September 1, 1990 and was awarded Reliability Must Run status on July 16, 2007 retroactive to December 1, 2005.

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Buyer(S) 1

Buyer

Maxim Power

Calgary, Alberta, Canada

website

Category Company
Founded 2010
Sector Renewable Energy
Employees42
Revenue 141M CAD (2022)
DESCRIPTION

Maxim Power is an independent power producer which acquires or develops, owns and operates innovative and environmentally responsible power and power related projects. MAXIM currently owns and operates 39 power plants in Alberta, the United States and France, having 778 MW of electric generating capacity. MAXIM provides innovative distributed power solutions in domestic and international energy markets. Maxim Power was founded in 2010 and is based in Calgary, Canada.

DEAL STATS #
Overall 6 of 6
Sector (Renewable Energy) 5 of 5
Type (Divestiture) 2 of 2
State (Massachusetts) 1 of 1
Country (United States) 4 of 4
Year (2008) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-09-17 Forked River Power Station

Ocean County, New Jersey, United States

Forked River Power Station is an 86 megawatt of electric generating capacity.

Buy $20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-13 Maxim Power

Carson City, Nevada, United States

Maxim Power (USA) Inc. owns and operates five natural gas-fired electric generation facilities. The company is based in the United States.

Sell $106M

Seller(S) 1

SELLER

GE Energy Financial Services

Stamford, Connecticut, United States

website

Category Company
Sector Financial Services
DESCRIPTION

GE Energy Financial Services is an investment provider to energy infrastructure projects around the world. Areas of interest include power generation and distribution, oil and gas, pipelines and storage, water, venture capital, and renewable energy. GE Energy Financial Services is a unit of GE Capital and is based in Stamford, Connecticut.

DEAL STATS #
Overall 1 of 7
Sector (Renewable Energy) 1 of 4
Type (Divestiture) 1 of 4
State (Massachusetts) 1 of 1
Country (United States) 1 of 4
Year (2008) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-08-01 SourceGas

Golden, Colorado, United States

SourceGas LLC, owns and operates regulated local gas distribution companies (LDCs) with operations in Arkansas, Colorado, Nebraska and Wyoming serving over 1.1 million residential, commercial, industrial and agricultural customers. SourceGas also owns a regulated intrastate gas pipeline company in Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-07 Frasie

Paris, France

Frasie is an investment platform in the industrial water sector in France. The company owns and operates wells and water treatment facilities across a diversified portfolio of long term contracts. It offers different contract models (BOT, BOO or pure maintenance agreements) to its clients. Frasie is based in Paris, France.

Sell -
Mergr

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