Stonepeak Infrastructure Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Stonepeak Infrastructure Partners has acquired 6 companies.

Stonepeak Infrastructure Partners’ most common sectors for investment are communications (31%) and oil/gas exploration (24%). The Firm’s most common investment types include secondary buyout (39%) and stake purchase (31%). In total, Stonepeak Infrastructure Partners has invested in 8 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2020 when it acquired Astound Broadband for $8.1B.

In the last 3 years, Stonepeak Infrastructure Partners has exited 2 companies. The Firm’s most common exit type is secondary buyout (67%). Stonepeak Infrastructure Partners’ largest (disclosed) exit occurred in 2015 when it sold Casper Crude to Rail for $225M.

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M&A Summary

  • M&A Total Activity16
    • M&A Buy Activity13
    • M&A Sell Activity3
  • Total Sectors Invested 8
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 5
  • M&A Advisors 6

Stonepeak Infrastructure Partners

55 Hudson Yards 550 W 34th Street, 48th Floor,
New York, New York 10001
United States
(212) 907-5100
www.stonepeakpartners.com
investments@stonepeakpartners.com

Stonepeak Infrastructure Partners is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stone peak Infrastructure Partners was formed in 2011 and has offices in New York City and Houston.


Investment Criteria

Sectors of Interest: Communications, Infrastructure, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

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

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.4/yr) # 6 1 2 - 1 3 13
vol $3.6B $8.1B $11.7B
Sell (0.4/yr) # 1 - - 1 1 - 3
vol $225M $225M
  16

Most Recent M&A

Company Date Value Type
Astound Broadband 2020-11-01 8.1B USD Secondary Buyout
Princeton, New Jersey · www.rcn.com
Xplornet Communications, Inc. 2020-02-27 - Secondary Buyout
Woodstock, New Brunswick · www.xplornet.com
TRAC Intermodal LLC 2020-02-18 - Secondary Buyout
Princeton, New Jersey · www.tracintermodal.com
Oryx Midstream Services LLC 2019-04-02 3.6B USD Secondary Buyout
Midland, Texas · www.oryxmidstream.com
Tidewater Holdings, Inc. (Tidewater Transportation & Terminals) 2019-02-20 - Secondary Buyout
Vancouver, Washington · www.tidewater.com
Paradigm Energy Partners LLC 2018-09-06 - Secondary Buyout
Dallas, Texas · www.paradigmmidstream.com
euNetworks Group Ltd. 2017-11-06 - Buyout (LBO, MBO, MBI)
London, United Kingdom · www.eunetworks.com
Cologix, Inc. 2017-02-02 - Buyout (LBO, MBO, MBI)
Denver, Colorado · www.cologix.com
RED Investment LLC 2016-09-22 - Divestiture
Westmont, Illinois
Casper Crude to Rail LLC 2015-10-12 225M USD Add-on Acquisition
Casper, Wyoming
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Xplornet Communications, Inc. 2020-02-27 Corridor Communications, Inc. 2020-10-01 1
Woodstock, New Brunswick · www.xplornet.com Calgary, Alberta · www.cciwireless.ca
Cologix, Inc. 2017-02-02 vXchnge Operating LLC - Minneapolis Data Center 2020-08-20 3
Denver, Colorado · www.cologix.com Minneapolis, Minnesota
euNetworks Group Ltd. 2017-11-06 Onstage Online GmbH 2019-03-28 1
London, United Kingdom · www.eunetworks.com Vienna, Austria · www.onstage.at
Cologix, Inc. 2017-02-02 Metro Optic, Inc. 2019-02-26 2
Denver, Colorado · www.cologix.com Montreal, Quebec · www.metrooptic.com
Cologix, Inc. 2017-02-02 COLO-D 2018-12-20 1
Denver, Colorado · www.cologix.com Longueuil, Quebec · www.colod.com

M&A by Sector

Sector Current # Value All-time # Value
Communications 4 (40%) 8.1B (69%) 4 (31%) 8.1B (69%)
Oil/Gas Exploration 2 (20%) 3.6B (31%) 3 (23%) 3.6B (31%)
Business Services 1 (10%) - 1 (8%) -
Construction - - 1 (8%) -
Information Technology 1 (10%) - 1 (8%) -
Infrastructure 1 (10%) - 1 (8%) -
Transportation - - 1 (8%) -
Utilities 1 (10%) - 1 (8%) -
Total 10 $11.7B 13 $11.7B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 8 (80%) 11.7B (100%) 11 (85%) 11.7B (100%)
  Texas 2 (20%) 3.6B (31%) 3 (23%) 3.6B (31%)
  New Jersey 2 (20%) 8.1B (69%) 2 (15%) 8.1B (69%)
  Illinois 1 (10%) - 1 (8%) -
  Florida 1 (10%) - 1 (8%) -
  Colorado 1 (10%) - 1 (8%) -
  California 1 (10%) - 1 (8%) -
  Wyoming - - 1 (8%) -
  Washington - - 1 (8%) -
United Kingdom 1 (10%) - 1 (8%) -
Canada 1 (10%) - 1 (8%) -
  New Brunswick 1 (10%) - 1 (8%) -
Total 10 $11.7B 13 $11.7B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Secondary Buyout 4 (40%) 11.7B (100%) 5 (38%) 11.7B (100%)
Stake Purchase 2 (20%) - 4 (31%) -
Buyout (LBO, MBO, MBI) 2 (20%) - 2 (15%) -
Divestiture 1 (10%) - 1 (8%) -
Growth Capital 1 (10%) - 1 (8%) -
Total 10 $11.7B 13 $11.7B

Exits by Deal Type

Type Total # Value
Secondary Sale 2 (67%) -
Trade Sale - Public Company 1 (33%) 225M (100%)
Total 3 $225M

Top M&A Advisors

Financial Deals
J.P. Morgan Securities LLC
1
Evercore Group LLC
1
Bank of America Merrill Lynch (BofA Securities)
1
Legal Deals
Simpson Thacher & Bartlett LLP
2
Sidley Austin LLP
1

Deal Values

buy # Total
> $1B 2 $11.7B
TOTAL $11.7B
Largest Astound Broadband
$8.1B (2020-11-01)
sell # Total
$100M to $1B 1 $225M
TOTAL $225M
Largest Casper Crude to Rail LLC
$225M (2015-10-12)

M&A Connections

Deals %
Acquired from
PE Firm(s)
89%
8 89%
Strategic(s)
11%
1 11%
Exited to
PE Firm(s)
67%
2 67%
Strategic(s)
33%
1 33%

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