M&A Deal Summary

Argan Acquires Gemma Power Systems

On December 21, 2006, Argan acquired energy services and equipment company Gemma Power Systems

Acquisition Highlights
  • This is Argan’s 1st transaction in the Energy Services and Equipment sector.
  • This is Argan’s 3rd transaction in the United States.
  • This is Argan’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2006-12-21
Target Gemma Power Systems
Sector Energy Services and Equipment
Buyer(s) Argan
Deal Type Add-on Acquisition

Target

Gemma Power Systems

Glastonbury, Connecticut, United States
Gemma Power Systems is a power plant builder serving New England. The Company provides development, construction, startup, operation, and maintenance services.

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Buyer(S) 1

Buyer

Argan

Rockville, Maryland, United States
Category Company
Founded 1961
Sector Construction
Employees1,214
Revenue 573M USD (2024)
DESCRIPTION

Argan is a provider of engineering, procurement, construction, commissioning, maintenance, and consulting service. Argan energy plants include simple and combined cycle natural gas-fired power plants as well as alternative energy facilities including biodiesel, ethanol, and those powered by renewable energy sources such as wind and solar. Argan was founded in 1961 and is based in Rockville, Maryland.

DEAL STATS #
Overall 3 of 5
Sector (Energy Services and Equipment) 1 of 2
Type (Add-on Acquisition) 3 of 5
State (Connecticut) 1 of 1
Country (United States) 3 of 4
Year (2006) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2004-09-06 Vitarich Laboratories

Naples, Florida, United States

Vitarich Laboratories is an integrated manufacturer of nutraceutical products including nutritional and whole-food dietary supplements.

Buy $12M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-14 Vitarich Laboratories

Naples, Florida, United States

Vitarich Laboratories is an integrated manufacturer of nutraceutical products including nutritional and whole-food dietary supplements.

Sell $3M
Mergr

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