Stonepeak Mergers and Acquisitions Summary

Infrastructure Profile

In the last 3 years, Stonepeak has acquired 8 companies. It has also invested in 7 others.

Stonepeak’s most common sectors for investment arecommunications (18%) and infrastructure (15%) . The Firm’s most common investment types include stake purchase (33%) and secondary buyout (18%). In total, Stonepeak has invested in 12 US states and 9 different countries. Its largest (disclosed) acquisition occurred in 2020 when it acquired Astound Broadband for $8.1B.

In the last 3 years, Stonepeak has exited 5 companies. The Firm’s most common exit type is secondary buyout (43%). Stonepeak’s 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 Activity35
    • M&A Buy Activity28
    • M&A Sell Activity7
  • Total Sectors Invested 12
  • Total Countries Invested 9
  • M&A Buy/Sell Connections 14
  • M&A Advisors 9

Stonepeak

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

Stonepeak 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. Stonepeak was formed in 2011 and is headquartered in New York City.


Investment Criteria

Sectors of Interest: Communications, Information Technology, Infrastructure, Transportation, 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 ≤ '17 '18 '19 '20 '21 '22 T
Buy (3.0/yr) # 13 - 2 6 5 2 28
vol $550M $3.6B $8.1B $8.9B $21.1B
Sell (1.2/yr) # 1 1 2 - 3 - 7
vol $225M $225M
  35

Most Recent M&A

Company Date Value Type
Inspired Education Holdings Ltd. 2022-05-03 - Growth Capital
London, United Kingdom · www.Inspirededu.com
Rinchem Company, Inc. 2022-01-06 - Buyout (LBO, MBO, MBI)
Albuquerque, New Mexico · www.rinchem.com
Seapeak Maritime Limited 2021-10-04 6.2B USD Going Private
Hamilton, Bermuda · www.seapeak.com
West Texas Gas, Inc. 2021-09-01 - Stake Purchase
Midland, Texas · www.westtexasgas.com
Emergent Cold LatAm Management LLC 2021-08-25 - Growth Capital
Miami, Florida · www.emergentcoldlatam.com
Vertical Bridge Holdings LLC 2021-08-10 - Secondary Buyout
Boca Raton, Florida · www.verticalbridge.com
Lumen Technologies, Inc. - Latin American Business 2021-07-26 2.7B USD Divestiture
, Brazil
Akumin, Inc. 2021-06-25 - Stake Purchase
Plantation, Florida · www.akumin.com
Ironclad Energy Partners LLC 2021-04-06 - Stake Purchase
Lombard, Illinois · www.ironclad-energy.com
Hygo Energy Transition Ltd. 2021-01-13 - Divestiture
Hamilton, Bermuda · www.hygoenergy.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Lineage Logistics Holdings LLC 2012-04-18 VersaCold Logistics Services 2022-04-13 44
Novi, Michigan · www.lineagelogistics.com Vaughan, Ontario · www.versacold.com
Lineage Logistics Holdings LLC 2012-04-18 H&S Coldstores 2022-01-11 43
Novi, Michigan · www.lineagelogistics.com Barneveld, Netherlands
Astound Broadband 2020-11-01 WideOpenWest, Inc. - Chicago, Evansville & Anne Arundel Service Areas 2021-06-30 3
Princeton, New Jersey · www.astound.com Englewood, Colorado
Lineage Logistics Holdings LLC 2012-04-18 Claus Sørensen - Cold Storage Division 2021-06-15 42
Novi, Michigan · www.lineagelogistics.com Esbjerg, Denmark
Lineage Logistics Holdings LLC 2012-04-18 UTI Forwarding B.V. 2021-04-26 41
Novi, Michigan · www.lineagelogistics.com Rotterdam, Netherlands · www.uti.nl
euNetworks Group Ltd. 2017-11-06 The Loop Manchester Ltd. 2020-12-31 2
London, United Kingdom · www.eunetworks.com Manchester, United Kingdom · www.theloopmanchester.co.uk
Lineage Logistics Holdings LLC 2012-04-18 Pago Sp. z o.o. 2020-12-01 40
Novi, Michigan · www.lineagelogistics.com Grodzisk Wielkopolski, Poland · www.pago.net.pl
Astound Broadband 2020-11-01 Grande Communications Networks LLC 2020-11-01 2
Princeton, New Jersey · www.astound.com San Marcos, Texas · www.mygrande.com
Xplornet Communications, Inc. 2020-02-27 Corridor Communications, Inc. 2020-10-01 3
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

M&A by Sector

Sector Current # Value All-time # Value
Communications 5 (24%) 11.3B (54%) 5 (18%) 11.3B (54%)
Transportation 4 (19%) 6.2B (29%) 4 (14%) 6.2B (29%)
Infrastructure 2 (10%) - 4 (14%) -
Information Technology 3 (14%) - 3 (11%) -
Renewable Energy 3 (14%) - 3 (11%) -
Oil/Gas Exploration 1 (5%) 3.6B (17%) 2 (7%) 3.6B (17%)
Energy Services and Equipment - - 2 (7%) -
Construction - - 1 (4%) -
Education 1 (5%) - 1 (4%) -
Healthcare Services 1 (5%) - 1 (4%) -
Real Estate 1 (5%) - 1 (4%) -
Utilities - - 1 (4%) -
Total 21 $21.1B 28 $21.1B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 12 (57%) 11.7B (55%) 18 (64%) 11.7B (55%)
  Texas 2 (10%) 3.6B (17%) 3 (11%) 3.6B (17%)
  Florida 2 (10%) - 3 (11%) -
  New Jersey 2 (10%) 8.1B (38%) 2 (7%) 8.1B (38%)
  Illinois 1 (5%) - 2 (7%) -
  Virginia 1 (5%) - 1 (4%) -
  New York 1 (5%) - 1 (4%) -
  New Mexico 1 (5%) - 1 (4%) -
  Michigan 1 (5%) - 1 (4%) -
  Colorado 1 (5%) - 1 (4%) -
  Wyoming - - 1 (4%) -
  Washington - - 1 (4%) -
  California - - 1 (4%) -
United Kingdom 2 (10%) - 2 (7%) -
Bermuda 1 (5%) 6.2B (29%) 2 (7%) 6.2B (29%)
Brazil 1 (5%) 2.7B (13%) 1 (4%) 2.7B (13%)
Netherlands 1 (5%) 550M (3%) 1 (4%) 550M (3%)
Canada 1 (5%) - 1 (4%) -
  New Brunswick 1 (5%) - 1 (4%) -
Japan 1 (5%) - 1 (4%) -
Singapore 1 (5%) - 1 (4%) -
Taiwan 1 (5%) - 1 (4%) -
Total 21 $21.1B 28 $21.1B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Stake Purchase 6 (29%) - 9 (32%) -
Secondary Buyout 4 (19%) 11.7B (55%) 5 (18%) 11.7B (55%)
Buyout (LBO, MBO, MBI) 4 (19%) 550M (3%) 4 (14%) 550M (3%)
Growth Capital 2 (10%) - 3 (11%) -
Consolidation 2 (10%) - 2 (7%) -
Joint Venture - - 2 (7%) -
Going Private 1 (5%) 6.2B (29%) 1 (4%) 6.2B (29%)
Divestiture 1 (5%) 2.7B (13%) 1 (4%) 2.7B (13%)
Recapitalization 1 (5%) - 1 (4%) -
Total 21 $21.1B 28 $21.1B

Exits by Deal Type

Type Total # Value
Secondary Sale 3 (43%) -
Stake Sale 2 (29%) -
Trade Sale - Public Company 1 (14%) 225M (100%)
Divestiture 1 (14%) -
Total 7 $225M

Top M&A Advisors

Financial Deals
J.P. Morgan Securities LLC
 1
DNB Markets
 1
Bank of America Merrill Lynch (BofA Securities)
 1
Legal Deals
Simpson Thacher & Bartlett LLP
 6
Conyers Dill & Pearman
 1
Sidley Austin LLP
 1

Deal Values

buy # Total
> $1B 4 $20.6B
$100M to $1B 1 $550M
TOTAL $21.1B
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
Investor(s)
18%
5 (18%)
Strategic(s)
4%
1 (4%)
Exited to
Investor(s)
57%
4 (57%)
Strategic(s)
43%
3 (43%)

Investor Summary

Investor Type

Infrastructure

Size

Mega

PE Assets

48.5B USD

Established

2011

Specialist/Generalist

Specialist

Leadership

Michael Dorrell

Chairman, CEO & Co-Founder

Brenden Woods

Senior Managing Director

Darren Keogh

Senior Managing Director

Nikolaus Woloszczuk

Senior Managing Director

Jack Howell

Senior Managing Director & Co-Head Americas

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