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  6. Ares EIF Acquires Hamakua Energy Partners

M&A Deal Summary

Ares EIF Acquires Hamakua Energy Partners

On July 19, 2004, private equity firm Ares EIF acquired utilities company Hamakua Energy Partners

Acquisition Highlights
  • This is Ares EIF’s 4th transaction in the Utilities sector.
  • This is Ares EIF’s 6th transaction in the United States.
  • This is Ares EIF’s 1st transaction in Hawaii.
Investment Fate
  • Hamakua Energy Partners was sold to a strategic buyer in 2010.

M&A Deal Summary
Date 2004-07-19
Target Hamakua Energy Partners
Sector Utilities
Buyer(s) Ares EIF
Deal Type Buyout (LBO, MBO, MBI)

Target

Hamakua Energy Partners

Honakaa, Hawaii, United States
Hamakua is 60 MW low-sulfur naphtha plant located in Honakaa on the big island of Hawaii. The plant has been in commercial operation since 2000 and sells power to the Hawaiian Electric Light Company under a power sales contract and purchase agreement.

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Buyer(S) 1

Buyer

Ares EIF

Category Private Equity Firm
Founded 1987
PE ASSETS 5.8B USD
Size Mega
Type Sector Focused
DESCRIPTION

Ares EIF is the direct energy investment arm of asset management firm, Ares Management. Ares EIF operates within Ares Private Equity Group and focuses exclusively on energy related investments. Specific areas of interest include electricity generating, transmission, and energy services assets; energy and utility company ownership interests; and utility service deployment investments. The Firm is a hands-on investor, and looks for ways to unlock value post acquisition. Ares EIF's geographic preference is for US based opportunities. Ares EIF was formed in 1987 and was acquired by Ares Management in 2014.

DEAL STATS #
Overall 6 of 19
Sector: Utilities M&A 4 of 13
Type: Buyout (LBO, MBO, MBI) M&A Deals 6 of 19
State: Hawaii M&A 1 of 1
Country: United States M&A 6 of 19
Year: 2004 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-06-28 Black River Generation

Fort Drum, New York, United States

Black River Generation LLC (Formerly Black River Energy LP) is a 50MW coal and pet coke facility located on Fort Drum in Watertown, New York. The facility also has permits to burn tire-derived fuel, wood chips, and pelletized cardboard and uses CFB – Alstrom technology. Select Energy, a subsidiary of Northeast Utilities, has entered into a three-year power contract with Black River Generation

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-01-25 Masspower

Springfield, Massachusetts, United States

MASSPOWER is a 270 MW gas-fired, combined cycle cogeneration facility located in Springfield, Massachusetts.

Sell -
Mergr

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