Riverstone Holdings Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Riverstone Holdings has acquired 2 companies.

Riverstone Holdings’ most common sectors for investment areoil/gas exploration (41%) and energy services and equipment (26%) . The Firm’s most common investment types include buyout (lbo, mbo, mbi) (50%) and growth capital (19%). In total, Riverstone Holdings has invested in 14 US states and 10 different countries. Its largest (disclosed) acquisition occurred in 2016 when it acquired Talen Energy for $5.2B.

In the last 3 years, Riverstone Holdings has exited 3 companies. The Firm’s most common exit type is trade sale (53%). Riverstone Holdings’ largest (disclosed) exit occurred in 2010 when it sold Dresser for $3.0B.

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M&A Summary

  • M&A Total Activity155
    • M&A Buy Activity104
    • M&A Sell Activity51
  • Total Sectors Invested 15
  • Total Countries Invested 10
  • M&A Buy/Sell Connections 59
  • M&A Advisors 6

Riverstone Holdings

712 Fifth Avenue, 36st Floor,
New York, New York 10019
United States
(212) 993-0076
www.riverstonellc.com

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.


Investment Criteria

Sectors of Interest: Automotive, Business Services, Consumer Services, Energy Services and Equipment, Engineering, Information Technology, Infrastructure, Machinery, Manufacturing, Marine, Metals/Mining, Oil/Gas Exploration, Renewable Energy, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Special Situations/Distressed

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Scandinavia, Asia/Pacific, Australia/New Zealand, Latin/South America

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.8/yr) # 100 2 - 1 1 - 104
vol $7.8B $2.7B $10.5B
Sell (1.0/yr) # 46 2 2 1 - - 51
vol $18.3B $410M $18.7B
  155

Most Recent M&A

Company Date Value Type
International-Matex Tank Terminals, Inc. 2020-11-09 2.7B USD Divestiture
New Orleans, Louisiana · www.imtt.com
ILX Holdings LLC 2019-12-10 - Add-on Acquisition
Houston, Texas
Ridley Terminals, Inc. 2019-07-01 - Buyout (LBO, MBO, MBI)
Prince Rupert, British Columbia · www.rti.ca
Enduro Resource Partners LLC 2018-05-16 - Bankruptcy
Fort Worth, Texas
Proserv UK Ltd. 2018-05-14 - Secondary Buyout
Aberdeen, United Kingdom · www.proserv-group.com
Hudson Products Corp. 2017-09-21 410M USD Add-on Acquisition
Beasley, Texas · www.hudsonproducts.com
Vesta Energy Corp. 2017-05-17 - Venture
Calgary, Alberta
Trail Ridge Energy Partners II 2017-04-03 - Add-on Acquisition
Grapevine, Texas
Admiral Permian Resources LLC 2017-03-09 - Buyout (LBO, MBO, MBI)
Midland, Texas · www.admiralpermian.com
Avant Energy S. de R.L. de C.V. 2016-12-05 - Growth Capital
San Pedro Garza García, Mexico · www.avant.energy
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Centennial Resource Development LLC 2016-07-07 Centennial Resource Development LLC - Produced Water Assets 2020-02-25 1
Delaware Basin, Texas Delaware Basin, Texas
TrailStone LP 2013-05-21 U.S. Oil & Refining Co. 2018-11-27 1
London, United Kingdom Tacoma, Washington · www.usor.com
Talen Energy Corp. 2016-06-03 B-G Mechanical Contractors, Inc. 2017-09-15 5
Allentown, Pennsylvania · www.talenenergy.com Chicopee, Massachusetts · www.bgmechanical.com
Talen Energy Corp. 2016-06-03 Elmsford Sheet Metal Works, Inc. 2017-09-15 4
Allentown, Pennsylvania · www.talenenergy.com Cortland Manor, New York · www.elmsfordsheetmetal.com
Talen Energy Corp. 2016-06-03 Trystate Mechanical, Inc. 2017-09-15 3
Allentown, Pennsylvania · www.talenenergy.com Yonkers, New York · www.trystatemech.com
Talen Energy Corp. 2016-06-03 H.T. Lyons, Inc. 2017-09-15 2
Allentown, Pennsylvania · www.talenenergy.com Allentown, Pennsylvania · www.htlyons.com
Talen Energy Corp. 2016-06-03 Fred Williams, Inc. 2017-09-15 1
Allentown, Pennsylvania · www.talenenergy.com Weymouth, Massachusetts · www.fwilliams.com
Abaco Energy Technologies LLC 2013-10-31 Ascent Coating Technologies LLC 2014-10-31 3
Houston, Texas · www.abacoenergyllc.com Houston, Texas · www.ascentcoating.com
Abaco Energy Technologies LLC 2013-10-31 BasinTek LLC 2014-10-31 2
Houston, Texas · www.abacoenergyllc.com Houston, Texas · www.basintek.com

M&A by Sector

Sector Current # Value All-time # Value
Oil/Gas Exploration 12 (35%) 700M (8%) 42 (40%) 2.6B (25%)
Energy Services and Equipment 8 (24%) 2.7B (31%) 27 (26%) 2.7B (26%)
Renewable Energy 8 (24%) - 15 (14%) -
Utilities 1 (3%) 5.2B (61%) 3 (3%) 5.2B (50%)
Marine 1 (3%) - 3 (3%) -
Agriculture 1 (3%) - 2 (2%) -
Business Services - - 2 (2%) -
Machinery - - 2 (2%) -
Manufacturing 1 (3%) - 2 (2%) -
Automotive - - 1 (1%) -
Infrastructure 1 (3%) - 1 (1%) -
Metals/Mining - - 1 (1%) -
Real Estate - - 1 (1%) -
Software - - 1 (1%) -
Transportation 1 (3%) - 1 (1%) -
Total 34 $8.6B 104 $10.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 22 (65%) 8.1B (94%) 76 (73%) 9.2B (87%)
  Texas 11 (32%) 175M (2%) 46 (44%) 796M (8%)
  California - - 5 (5%) -
  Colorado - - 4 (4%) 470M (4%)
  Pennsylvania 2 (6%) 5.2B (61%) 3 (3%) 5.2B (50%)
  Connecticut 1 (3%) - 3 (3%) -
  Oklahoma 1 (3%) - 3 (3%) -
  Maryland 1 (3%) - 3 (3%) -
  Louisiana 2 (6%) 2.7B (31%) 2 (2%) 2.7B (26%)
  North Carolina 2 (6%) - 2 (2%) -
  Virginia 1 (3%) - 1 (1%) -
  New York 1 (3%) - 1 (1%) -
  Illinois - - 1 (1%) -
  Florida - - 1 (1%) -
  Missouri - - 1 (1%) -
Canada 5 (15%) - 10 (10%) 625M (6%)
  Alberta 3 (9%) - 7 (7%) 625M (6%)
  Ontario 1 (3%) - 2 (2%) -
  British Columbia 1 (3%) - 1 (1%) -
United Kingdom 2 (6%) - 8 (8%) 200M (2%)
Mexico 2 (6%) 525M (6%) 2 (2%) 525M (5%)
Brazil 1 (3%) - 2 (2%) -
Netherlands 1 (3%) - 2 (2%) -
Argentina 1 (3%) - 1 (1%) -
China - - 1 (1%) -
Greece - - 1 (1%) -
Switzerland - - 1 (1%) -
Domestic 22 (65%) 8.1B (94%) 76 (73%) 9.2B (87%)
Cross-border 12 (35%) 525M (6%) 28 (27%) 1.4B (13%)
Total 34 $8.6B 104 $10.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 14 (41%) 525M (6%) 52 (50%) 1.4B (13%)
Growth Capital 5 (15%) - 19 (18%) -
Stake Purchase 7 (21%) - 11 (11%) 470M (4%)
Secondary Buyout 1 (3%) - 8 (8%) 350M (3%)
Divestiture 3 (9%) 2.9B (33%) 6 (6%) 3.1B (30%)
Going Private 1 (3%) 5.2B (61%) 2 (2%) 5.2B (50%)
Venture 1 (3%) - 2 (2%) -
Consolidation 1 (3%) - 1 (1%) -
Joint Venture 1 (3%) - 1 (1%) -
PIPE - - 1 (1%) -
Recapitalization - - 1 (1%) -
Total 34 $8.6B 104 $10.5B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 20 (39%) 16.6B (89%)
IPO 14 (27%) -
Trade Sale 7 (14%) 1.3B (7%)
Secondary Sale 4 (8%) 320M (2%)
Bankruptcy 3 (6%) -
Merger 2 (4%) 532M (3%)
Unknown 1 (2%) -
Total 51 $18.7B

Top M&A Advisors

Financial Deals
Goldman Sachs Investment Banking Division
2
Evercore Group LLC
1
Legal Deals
Latham & Watkins
4
Vinson & Elkins LLP
3
Wachtell, Lipton, Rosen & Katz LLP
1

Deal Values

buy # Total
> $1B 2 $7.9B
$100M to $1B 7 $2.6B
TOTAL $10.5B
Largest Talen Energy Corp.
$5.2B (2016-06-03)
sell # Total
> $1B 6 $11.2B
$100M to $1B 12 $7.5B
TOTAL $18.7B
Largest Dresser, Inc.
$3.0B (2010-10-06)

M&A Connections

Deals
Acquired from
Investor(s)
9%
9 (9%)
Strategic(s)
6%
6 (6%)
Exited to
Investor(s)
8%
4 (8%)
Strategic(s)
57%
29 (57%)

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