M&A Deal Summary

The Carlyle Group Acquires Red Oak Power

On November 7, 2013, private equity firm The Carlyle Group acquired utilities company Red Oak Power from Energy Capital Partners for 1.2B USD

Acquisition Highlights
  • This is The Carlyle Group’s 3rd transaction in the Utilities sector.
  • This is The Carlyle Group’s 51st largest (disclosed) transaction.
  • This is The Carlyle Group’s 249th transaction in the United States.
  • This is The Carlyle Group’s 7th transaction in New Jersey.
Investment Fate
  • Red Oak Power was sold to a financial buyer in 2017.

M&A Deal Summary

Date 2013-11-07
Target Red Oak Power
Sector Utilities
Buyer(s) The Carlyle Group
Sellers(s) Energy Capital Partners
Deal Type Secondary Buyout
Deal Value 1.2B USD

Target

Red Oak Power

Sayreville, New Jersey, United States
website
Red Oak Power provides vintage combined cycle gas turbine facility that uses proven low heat rate Siemens 501F technology, which has a long track record of reliability in power plants across the U.S. Red Oak Power is based in Sayreville, New Jersey.

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Buyer(S) 1

Buyer

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 84.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 476 of 691
Sector (Utilities) 3 of 4
Type (Secondary Buyout) 54 of 123
State (New Jersey) 7 of 11
Country (United States) 249 of 335
Year (2013) 16 of 22
Size (of disclosed) 51 of 133
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-06 EO Technics

Anyang, South Korea

EO Technics Co., Ltd. is a Korea-based company mainly engaged in the manufacture of laser application equipment.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-13 Genesee & Wyoming

Darien, Connecticut, United States

Genesee & Wyoming owns and operates short line and regional freight railroads and provides railcar switching services in the United States, Australia, Canada, the Netherlands and Belgium. Genesee & Wyoming was founded in 1899 and is based in Darien, Connecticut.

Sell -

Seller(S) 1

SELLER

Energy Capital Partners

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2005
PE ASSETS 13.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Energy Capital Partners is a specialist private equity firm focused on investments in energy infrastructure. Specific areas of interest include power generation, including renewable energy facilities; electric transmission; midstream gas, including gas storage and pipelines; and other energy service businesses and infrastructure assets . The Firm targets opportunities primarily in North America. Energy Capital Partners was formed in 2005 and has offices in Short Hills, New Jersey and San Diego, California.


DEAL STATS #
Overall 7 of 22
Sector (Utilities) 1 of 4
Type (Secondary Buyout) 1 of 4
State (New Jersey) 1 of 1
Country (United States) 7 of 22
Year (2013) 2 of 2
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-11-07 Rimrock Midstream

Plano, Texas, United States

Rimrock Midstream LLC is a growth-oriented company formed to acquire, develop and operate a portfolio of midstream energy infrastructure assets through a buy-and-build strategy.

Buy $160M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-02-28 NESCO

Bluffton, Indiana, United States

NESCO LLC offers its specialized equipment to a diverse customer base for the maintenance, repair, upgrade and installation of critical infrastructure assets including electric lines, telecommunications networks, and rail systems. With a nationwide rental fleet of approximately 4,000 units.

Buy -