Add-on Acquisition • Energy Services and Equipment

AlphaGen Acquires Lordstown Energy Center

On February 20, 2024, AlphaGen acquired energy services and equipment company Lordstown Energy Center from Macquarie Capital, Sumitomo and Development Bank of Japan

Acquisition Context
  • This is AlphaGen’s 1st transaction in the Energy Services and Equipment sector.
  • This is AlphaGen’s 1st transaction in the United States.
  • This is AlphaGen’s 1st transaction in Ohio.

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M&A Deal Summary

Date February 20, 2024
Target Lordstown Energy Center
Sector Energy Services and Equipment
Buyer(s) AlphaGen
Sellers(s) Macquarie Capital
Sumitomo
Development Bank of Japan
Deal Type Add-on Acquisition

Target Company

Lordstown Energy Center

Lordstown, Ohio, United States
Lordstown Energy Center is a combined-cycle natural-gas-fueled electric generation facility with a generation capacity of 940MW. The facility began commercial operations in October 2018, and supplies electricity to the Pennsylvania-New Jersey-Maryland market (hereinafter, “PJM market”), which serves more than 60 million customers as North America’s largest wholesale power market. Lordstown Energy Center is based in Lordstown, Ohio.
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Buyer Overview 1

Buyer

AlphaGen

Houston, Texas, United States

Category Company
Founded 2024
Sector Infrastructure
DESCRIPTION

AlphaGen provides strategic management and oversight of its power infrastructure portfolio. AlphaGen was formed in 2024 and is based in Houston, Texas.


Deal Context for Buyer #
Overall 1 of 1
Sector: Energy Services and Equipment 1 of 1
Type: Add-on Acquisition 1 of 1
State: Ohio 1 of 1
Country: United States 1 of 1
Year: 2024 1 of 1

Seller Profiles 3

DESCRIPTION

Macquarie Capital is the principal investing arm of financial services company Macquarie Group. Macquarie Capital has global capability in advisory, capital raising services, and provides clients with specialist expertise, advice and flexible capital solutions across a range of sectors and products including investing alongside partners and clients. Macquarie Capital is based in Sydney, Australia.


Deal Context for Seller #
Overall 10 of 12
Sector: Energy Services and Equipment 2 of 2
Type: Add-on Acquisition 5 of 6
State: Ohio 1 of 1
Country: United States 4 of 5
Year: 2024 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-08 Camin Cargo

Pasadena, Texas, United States

Camin Cargo is a third-party service provider of mission-critical inspection, testing, and fuel treatment services to the petroleum products industry. Camin Cargo’s 59 branches, located in 15 countries, are strategically located to serve multiple key ports, refineries, and other petroleum product transfer points throughout the United States, Canada, Latin America, and Western Europe. Camin Cargo was founded in 1982 and is based in Pasadena, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-24 Kalkomey

Richardson, Texas, United States

Kalkomey provides technology-enabled recreational safety management solutions to outdoor enthusiasts and government agencies. Kalkomey provides software to state agencies to drive recreational participation and civic engagement and grow agency revenue. Kalkomey was founded in 1995 and is based in Richardson, Texas.

Buy -
SELLER

Sumitomo

Tokyo, Japan

Category Company
Founded 1919
Sector Distribution
Employees74,920
Revenue 7.29T JPY (2025)
DESCRIPTION

Sumitomo is a global network and based on trust from companies in various industries and from consumers, Sumitomo Corporation engages in multifaceted business activities by making the most of its Integrated Corporate Strength. These business activities include sales of a variety of products and services within Japan, import and export, trilateral trade, and domestic and international business investment. Sumitomo was founded in 1919 and is based in Tokyo, Japan.


Deal Context for Seller #
Overall 9 of 9
Sector: Energy Services and Equipment 1 of 1
Type: Add-on Acquisition 2 of 2
State: Ohio 1 of 1
Country: United States 5 of 5
Year: 2024 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-17 Upsher-Smith Laboratories

Maple Grove, Minnesota, United States

Upsher-Smith Laboratories is a pharmaceutical company, that delivers quality therapies and solutions that measurably improve individuals’ lives. Upsher-Smith Laboratories is based in Maple Grove, Minnesota.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-18 Bio Insumos Nativa

Maule, Chile

Bio Insumos Nativa is a biocontrol manufacturing company that supplies biocontrol products handled by Summit Agro South America. Bio Insumos Nativa was formed in 2002 and is based in Maule, Chile.

Buy -
SELLER

Development Bank of Japan

Tokyo, Japan

Category Company
Sector Financial Services
DESCRIPTION

Development Bank of Japan, Inc. is a provider of financing, investment, and consulting and advisory services in Japan and internationally.


Deal Context for Seller #
Overall 1 of 1
Sector: Energy Services and Equipment 1 of 1
Type: Add-on Acquisition 1 of 1
State: Ohio 1 of 1
Country: United States 1 of 1
Year: 2024 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-18 3DEO

Torrance, California, United States

3DEO specializes in metal additive manufacturing with a focus on precision metal 3D printed components. 3DEO is based in Torrance, California.

Buy -