M&A Deal Summary

AES- clean energy development business Acquires sPower

On November 17, 2020, AES- clean energy development business acquired renewable energy company sPower from Alberta Investment Management and AES

Acquisition Highlights
  • This is AES- clean energy development business’ 1st transaction in the Renewable Energy sector.
  • This is AES- clean energy development business’ 1st transaction in the United States.
  • This is AES- clean energy development business’ 1st transaction in Utah.

M&A Deal Summary
Date 2020-11-17
Target sPower
Sector Renewable Energy
Buyer(s) AES- clean energy development business
Sellers(s) Alberta Investment Management
AES
Deal Type Merger

Target

sPower

Salt Lake City, Utah, United States
sPower is an independent power producer (IPP) that owns and/or operates more than 150 utility and commercial distributed electrical generation systems across the U.S. and the UK. With 4.0 gigawatts between operating, construction and pipeline, sPower are actively buying select utility-scale renewable assets in virtually any stage of development in the United States. sPower is based in Salt Lake City, Utah.

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Buyer(S) 1

Buyer

AES- clean energy development business

United States
Category Company
Sector Renewable Energy
DESCRIPTION

AES's clean energy development business includes AES Distributed Energy and a wind development team. AES's clean energy development business is based in United states.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Merger) 1 of 1
State (Utah) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1

Seller(S) 2

SELLER

Alberta Investment Management

Investor Investor Investor Investor Investor

Category Pension
Founded 2008
PE ASSETS 4.5B CAD
Size Mega
Type Sector Agnostic
DESCRIPTION

Alberta Investment Management Corporation (AIMCo) is a Canadian diversified institutional investment manager serving pension, endowment and government funds in the province of Alberta. In addition to investing in public equities, fixed income, and debt, AIMCo looks to invest in private equity, real estate, timberlands, and infrastructure. AIMCo's private equity group invests in funds and directly in companies throughout North America and Western Europe. Areas of interest include consumer, industrials, business services, financial services, technology, and healthcare. AIMCo is based in Edmonton, with additional offices in Toronto and London.

DEAL STATS #
Overall 1 of 7
Sector (Renewable Energy) 1 of 2
Type (Merger) 1 of 1
State (Utah) 1 of 1
Country (United States) 1 of 5
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-24 PCI Pharma Services

Philadelphia, Pennsylvania, United States

PCI Pharma Services is a provider of outsourced pharmaceutical supply chain solutions supporting biotechnology and pharmaceutical companies throughout the various stages of drug development and commercialization. PCI Pharma Services was founded in 2012 and is based in Philadelphia, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-19 nThrive - Technology Division

Alpharetta, Georgia, United States

nThrive's Technology Division is a healthcare revenue cycle management ("RCM") software-as-a-service ("SaaS") platform. nThrive's Technology Division is based in Alpharetta, Georgia.

Buy -
SELLER

AES

Arlington, Virginia, United States
Category Company
Founded 1981
Sector Utilities
Employees9,600
Revenue 12.7B USD (2023)
DESCRIPTION

AES is a power company that owns and operates a diverse and growing portfolio of electricity generation and distribution businesses, which provide reliable, affordable energy to customers in 21 countries. AES understands that a reliable, affordable supply of electricity is essential to human progress, economic growth, public health and security. AES was founded in 1981 and is based in Arlington, Virginia.

DEAL STATS #
Overall 12 of 12
Sector (Renewable Energy) 7 of 7
Type (Merger) 1 of 1
State (Utah) 1 of 1
Country (United States) 8 of 8
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-20 AES Corp - Shady Point

Poteau, Oklahoma, United States

AES Corp - Shady Point is a coal- and natural gas-fired plant utilizing circulating fluidized bed boilers that produce lower emissions due to their design features and emissions controls.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-28 Uplight

Boulder, Colorado, United States

Uplight is a provider of energy management software, hardware, and services for consumers and utility companies. Uplight data analytics on more than 123 million homes creates new business opportunities for any product or service provider connected to the home. Today, this includes electric and gas utilities, and energy retailers. Built over more than a decade, the Tendril Platform delivers real-time, ever-evolving data about the home and how people use energy in it. These rich insights help our customers improve customer acquisition, increase engagement and orchestrate home energy experiences. Uplight was founded in 2004 and is based in Boulder, Colorado.

Buy -
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