TC Energy Mergers and Acquisitions Summary

Energy Services And Equipment Company

TC Energy has acquired 12 companies, including 3 in the last 5 years. It has also divested 4 assets.

TC Energy’s largest acquisition to date was in 2016, when it acquired Columbia Pipeline Group for $13.0B. It’s largest disclosed sale occurred in 2019, when it sold Columbia Midstream Group to UGI for $1.3B. TC Energy has acquired in 2 different US states, and 2 countries. The Company’s most targeted sectors include energy services and equipment (59%) and utilities (25%).

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M&A Summary

  • M&A Total Activity16
    • M&A Buy Activity12
    • M&A Sell Activity4
  • Total Sectors Invested 4
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 13
  • M&A Advisors 8

TC Energy Corporation

450 - 1 Street SW,
Calgary, Alberta T2P 5H1
Canada,
(403) 920-2000
www.tcenergy.com

TC Energy Corp. is a provider of energy infrastructure including natural gas and liquids pipelines, power generation and gas storage facilities. TC Energy Corporation was founded in 1951 and is headquartered in Calgary, Canada.


M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.4/yr) # 10 - - - 2 - 12
vol $17.1B $255M $17.4B
Sell (0.4/yr) # 2 - - 2 - - 4
vol $1.3B $1.3B
  16

Most Recent M&A

Company Date Value Type
TC PipeLines LP 2020-12-15 - Add-on Acquisition
Houston, Texas · www.tcpipelineslp.com
Pioneer Pipeline 2020-06-18 255M USD Divestiture
Calgary, Alberta
Coastal GasLink Pipeline Project 2019-12-26 - Divestiture
Vancouver, British Columbia · www.coastalgaslink.com
Columbia Midstream Group LLC 2019-07-02 1.3B USD Divestiture
, United States
Columbia Pipeline Group, Inc. 2016-03-17 13.0B USD Add-on Acquisition
Houston, Texas · www.columbiapipelinegroup.com
Talen Energy Corp - Ironwood Power Plant 2015-10-08 654M USD Divestiture
, United States
Canadian Solar Solutions - Liskeard 1 Solar Power Facility 2014-12-29 - Divestiture
, United States
KeySpan-Ravenswood, Inc. 2008-03-31 2.8B USD Divestiture
, United States
ANR Pipeline Co. 2006-12-22 - Add-on Acquisition
Houston, Texas · www.anrpl.com
ANR Storage Co. 2006-12-22 - Add-on Acquisition
, United States
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Energy Services and Equipment 7 (58%) 4.2B (24%) 3 (75%) 1.3B (100%)
Utilities 3 (25%) 188M (1%) 1 (25%) -
Oil/Gas Exploration 1 (8%) 13.0B (75%) - -
Renewable Energy 1 (8%) - - -
Total 12 $17.4B 4 $1.3B

By Geo

State/Country Buy Value Sell Value
United States 10 17.1B 1 1.3B
  Texas 3 13.0B - -
Canada 2 255M 1 -
  Alberta 1 255M - -
  British Columbia - - 1 -
Chile - - 1 -
Colombia - - 1 -
Domestic 2 (17%) 255M (1%) 1 (25%) -
Cross-border 10 (83%) 17.1B (99%) 3 (75%) 1.3B (100%)
Total 12 $17.4B 4 $1.3B

Top M&A Advisors

Financial Deals
Lazard Ltd.
2
Citigroup Investment Banking
2
J.P. Morgan Securities LLC
1
Legal Deals
Mayer Brown
4
Hogan Lovells
2
Vinson & Elkins LLP
1

Deal Values

buy # Total
> $1B 2 $15.8B
$100M to $1B 4 $1.5B
< $100M 1 $61M
TOTAL $17.4B
Largest Columbia Pipeline Group, Inc.
$13.0B (2016-03-17)
sell # Total
> $1B 1 $1.3B
TOTAL $1.3B
Largest Columbia Midstream Group LLC
$1.3B (2019-07-02)

M&A Connections

Deals
Acquired from
Strategic(s)
67%
8 (67%)
Divested to
Investor(s)
25%
1 (25%)
Strategic(s)
50%
2 (50%)

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