M&A Deal Summary

Riverstone Holdings Acquires Talen Energy

On June 3, 2016, private equity firm Riverstone Holdings acquired utilities company Talen Energy for 5.2B USD

Acquisition Highlights
  • This is Riverstone Holdings’ 4th transaction in the Utilities sector.
  • This is Riverstone Holdings’ largest (disclosed) transaction.
  • This is Riverstone Holdings’ 73rd transaction in the United States.
  • This is Riverstone Holdings’ 3rd transaction in Pennsylvania.

M&A Deal Summary

Date 2016-06-03
Target Talen Energy
Sector Utilities
Buyer(s) Riverstone Holdings
Deal Type Going Private
Deal Value 5.2B USD
Advisor(s) Citigroup Investment Banking (Financial)
Kirkland & Ellis LLP (Legal)

Target

Talen Energy

Allentown, Pennsylvania, United States
website
Talen Energy is a competitive energy and power generation companies in the United States.

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Buyer(S) 1

Buyer

Riverstone Holdings

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 40.0B USD
SizeMega
Type Sector Focused
DESCRIPTION

Riverstone Holdings is a large specialist private equity firm focused on opportunities in the energy and power industry. Specific areas of interest include oil & gas exploration, midstream transportation/logistics, electric generation, energy & power service, power infrastructure, and energy & power technology. Riverstone was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 98 of 106
Sector (Utilities) 4 of 4
Type (Going Private) 2 of 2
State (Pennsylvania) 3 of 3
Country (United States) 73 of 78
Year (2016) 1 of 3
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-01 Fairfield Energy

Middlesex, United Kingdom

Fairfield Energy is an exploration and production company focused on the exploitation of undeveloped and abandoned oil and natural gas fields in the North Sea through a balance of redevelopment, appraisal, and exploration activities. Warburg Pincus invested in Fairfield in 2005. Management has commenced the evaluation of its first two project areas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-09 Wayne Fueling Systems

Addison, Texas, United States

Wayne is a global provider of fuel dispensing, payment, systems and aftermarket services for retail and commercial fuel stations.

Sell $780M