NRG Energy Mergers and Acquisitions Summary

Utilities Company

NRG Energy has acquired 18 companies, including 1 in the last 5 years. A total of 7 acquisitions came from private equity firms. It has also divested 5 assets.

NRG Energy’s largest acquisition to date was in 2005, when it acquired Texas Genco Holdings for $5.8B. It’s largest disclosed sale occurred in 2019, when it sold NRG South Central Generating to Cleco for $1.0B. NRG Energy has acquired in 6 different US states, and 2 countries. The Company’s most targeted sectors include utilities (47%) and energy services and equipment (20%).

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M&A Summary

  • M&A Total Activity20
    • M&A Buy Activity15
    • M&A Sell Activity5
  • Total Sectors Invested 6
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 18
  • M&A Advisors 6

NRG Energy, Inc.

804 Carnegie Center,
Princeton, New Jersey 08540
United States,
(609) 524-4500
www.nrg.com

NRG Energy, Inc. 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 Energy was formed in 1989 and is based in Princeton, New Jersey.


M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.2/yr) # 14 - - - 1 - 15
vol $11.3B $3.6B $14.9B
Sell (0.6/yr) # 2 2 - 1 - - 5
vol $15M $1.0B $1.0B
  20

Most Recent M&A

Company Date Value Type
Direct Energy LP 2020-07-24 3.6B USD Divestiture
Houston, Texas · www.directenergy.com
NRG South Central Generating LLC 2019-01-16 1.0B USD Divestiture
Minneapolis, Minnesota
GenOn Energy, Inc. 2017-06-14 - Bankruptcy
Princeton, New Jersey · www.genon.com
NRG Energy, Inc. - Engine Services Business Unit 2017-02-08 - Divestiture
Princeton, New Jersey
NRG Energy 108MW Storm Lake 1 Wind Farm 2014-12-18 15M USD Divestiture
, Iowa
Pure Energies, Inc. 2014-10-01 - Add-on Acquisition
Toronto, Ontario · www.pure-energies.com
Goal Zero Corp. 2014-08-14 - Add-on Acquisition
Bluffdale, Utah · www.goalzero.com
Roof Diagnostics, Inc. 2014-03-27 - Add-on Acquisition
Wall Township, New Jersey · www.roofdiagnostics.com
Edison Mission Energy 2014-03-12 2.6B USD Add-on Acquisition
Santa Ana, California
Dominion Resources - Retail Electric Business 2014-03-11 - Divestiture
Plano, Texas
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Utilities 7 (47%) 10.0B (67%) 1 (20%) 1.0B (99%)
Energy Services and Equipment 3 (20%) 4.5B (30%) 3 (60%) -
Renewable Energy 2 (13%) 350M (2%) 1 (20%) 15M (1%)
Business Services 1 (7%) - - -
Construction 1 (7%) - - -
Electronics 1 (7%) - - -
Total 15 $14.9B 5 $1.0B

By Geo

State/Country Buy Value Sell Value
United States 14 14.9B 5 1.0B
  Texas 6 10.3B - -
  New Jersey 2 1.7B 2 -
  New York 2 85M - -
  California 2 2.6B - -
  Utah 1 - - -
  Pennsylvania 1 190M - -
  Minnesota - - 1 1.0B
  Iowa - - 1 15M
Canada 1 - - -
  Ontario 1 - - -
Domestic 14 (93%) 14.9B (100%) 5 (100%) 1.0B (100%)
Cross-border 1 (7%) - - -
Total 15 $14.9B 5 $1.0B

Top M&A Advisors

Financial Deals
Credit Suisse Investment Banking
2
Citigroup Investment Banking
1
Morgan Stanley
1
Legal Deals
Latham & Watkins
1
Kirkland & Ellis LLP
1
Baker Botts LLP
1

Deal Values

buy # Total
> $1B 4 $13.8B
$100M to $1B 4 $1.1B
< $100M 1 $85M
TOTAL $14.9B
Largest Texas Genco Holdings, Inc.
$5.8B (2005-10-03)
sell # Total
> $1B 1 $1.0B
< $100M 1 $15M
TOTAL $1.0B
Largest NRG South Central Generating LLC
$1.0B (2019-01-16)

M&A Connections

Deals
Acquired from
Investor(s)
27%
4 (27%)
Strategic(s)
33%
5 (33%)
Divested to
Strategic(s)
80%
4 (80%)

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