M&A Deal Summary

Astatine Investment Partners and Alberta Investment Management Acquire Howard Energy Partners

On December 9, 2013, infrastructure investor Astatine Investment Partners and pension Alberta Investment Management acquired oil/gas exploration company Howard Energy Partners from Quanta Capital Solutions for 221M USD

Acquisition Highlights
  • This is Astatine Investment Partners’ 4th and Alberta Investment Management’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Astatine Investment Partners’ 4th and Alberta Investment Management’s 8th largest (disclosed) transaction.
  • This is Astatine Investment Partners’ 7th and Alberta Investment Management’s 2nd transaction in the United States.
  • This is Astatine Investment Partners’ 3rd and Alberta Investment Management’s 1st transaction in Texas.
Investment Fate
  • Howard Energy Partners was sold to a consortium of financial buyers in 2022.

M&A Deal Summary

Date 2013-12-09
Target Howard Energy Partners
Sector Oil/Gas Exploration
Buyer(s) Astatine Investment Partners
Alberta Investment Management
Sellers(s) Quanta Capital Solutions
Deal Type Divestiture
Deal Value 221M USD

Target

Howard Energy Partners

San Antonio, Texas, United States
Howard Energy Partners is an independent midstream energy company that owns and operates natural gas gathering lines, processing facilities, and pipelines, as well as oil gathering lines, a liquids stabilization plant, and bulk liquid storage terminals. Howard Energy Partners was founded in 2011 and is based in San Antonio, Texas.

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Buyer(S) 2

Buyer

Astatine Investment Partners

Greenwich, Connecticut, United States

Category Infrastructure
Founded 2005
PE ASSETS 10.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Alinda Capital Partners is a private investment firm specializing in the acquisition of infrastructure assets in North America and Europe. Alinda looks for assets with predictable cash flows, strategic competitive advantages, and limited commodity or merchant risk. Specific sectors of interest include roads, bridges and tunnels; airports, ports and rail; water supply and wastewater treatment; gas transportation, storage and distribution; power generation and electric transmission; and utility services for residential, commercial and industrial customers. Alinda Capital Partners was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 12 of 23
Sector (Oil/Gas Exploration) 4 of 4
Type (Divestiture) 3 of 5
State (Texas) 3 of 3
Country (United States) 7 of 14
Year (2013) 2 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-02 EmiTel

Warsaw, Poland

EmiTel distributes television and radio signals nationwide in Poland under long-term contracts with television and radio broadcasters. The company owns approximately 350 broadcast towers. EmiTel is also the largest independent tower operator for mobile phone operators in Poland. EmiTel was founded in 2002 and is based in Warsaw, Poland

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-22 Virginia International Gateway

Portsmouth, Virginia, United States

Virginia International Gateway owns the most modern and highly automated container terminal in North America. The terminal has an annual throughput capacity of approximately 2 million TEUs and is operated by the state-owned Virginia Port Authority. Virginia International Gateway is based in Portsmouth, Virginia.

Buy -
Buyer

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 3 of 30
Sector (Oil/Gas Exploration) 1 of 2
Type (Divestiture) 2 of 5
State (Texas) 1 of 3
Country (United States) 2 of 15
Year (2013) 1 of 1
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-06 KMC Mining

Acheson, Alberta, Canada

KMC Mining is a contract road builder with operations include railroads, dams, mines and other major earthworks throughout Alberta, British Columbia, Saskatchewan, Yukon, and the Northwest Territories. KMC Mining was formed in 1949 and is based in Acheson, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-15 Environmental Resources Management

London, United Kingdom

Environmental Resources Management is a global provider of environmental, health, safety, risk, and social consulting services. Environmental Resources Management was founded in 1871 and is based in London, United Kingdom.

Buy $1.7B

Seller(S) 1

SELLER

Quanta Capital Solutions

United States

Category Company
Founded 2000
Sector Electronics
DESCRIPTION

Quanta Capital Solutions, Inc. is a wholly owned subsidiary of Quanta Services, Inc., a Fortune 500 company. Quanta Services is a leading provider of engineering, procurement, and construction (EPC) services to the electric power and natural gas and oil pipeline industries in North America and in select international markets. Quanta Capital is the investment arm of Quanta Services. It structures, makes, and manages investments that enhance Quanta’s success in its core business – EPC services – while assisting clients in the accelerated achievement of their project investment objectives.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2013) 1 of 1
Size (of disclosed) 1 of 1