M&A Deal Summary

ATCO Acquires TransAlta - Pioneer Pipeline

On October 1, 2020, ATCO acquired utilities company TransAlta - Pioneer Pipeline from TransAlta and Tidewater for 255M CAD

Acquisition Highlights
  • This is ATCO’s 2nd transaction in the Utilities sector.
  • This is ATCO’s 0th largest (disclosed) transaction.
  • This is ATCO’s 1st transaction in Canada.
  • This is ATCO’s 1st transaction in Alberta.

M&A Deal Summary
Date 2020-10-01
Target TransAlta - Pioneer Pipeline
Sector Utilities
Buyer(s) ATCO
Sellers(s) TransAlta
Tidewater
Deal Type Divestiture
Deal Value 255M CAD

Target

TransAlta - Pioneer Pipeline

Calgary, Alberta, Canada
TransAlta Corp. - Pioneer Pipeline provides reliable natural gas supply to the Company's power generation stations at Sundance and Keephills.

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Buyer(S) 1

Buyer

ATCO

Calgary, Alberta, Canada
Category Company
Founded 1947
Sector Utilities
Employees20,175
Revenue 4.7B CAD (2023)
DESCRIPTION

ATCO is a is a diversified global corporation delivering service in the business solutions ofStructures & Logistics, Electricity, Pipelines & Liquids and Retail Energy. ATCO was incorporated in 1947 and is based in Calgary, Alberta.

DEAL STATS #
Overall 2 of 2
Sector (Utilities) 2 of 2
Type (Divestiture) 1 of 1
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-12-21 Electricidad del Golfo

Veracruz, Mexico

Electricidad del Golfo is a hydroelectric power plants operating under the self-supply regime in Mexico and is fully contracted with high quality offtakers. The plant includes a small reservoir for the regulation and optimization of the Apatlahuaya River flows.

Buy $90M

Seller(S) 2

SELLER

TransAlta

Calgary, Alberta, Canada
Category Company
Founded 1909
Sector Utilities
Employees1,257
Revenue 3.4B CAD (2023)
DESCRIPTION

TransAlta is a power generation and wholesale marketing company focused on creating long-term shareholder value. TransAlta’s focus is to efficiently operate wind, hydro, natural gas and coal facilities in order to provide customers with a reliable, low-cost source of power. TransAlta was incorporated in 1909 and is based in Calgary, Alberta.

DEAL STATS #
Overall 2 of 3
Sector (Utilities) 1 of 1
Type (Divestiture) 2 of 3
State (Alberta) 2 of 3
Country (Canada) 2 of 3
Year (2020) 2 of 3
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-18 Pioneer Pipeline

Calgary, Alberta, Canada

Pioneer Pipeline is a 20 inch, 120km pipeline that provides approximately 130MMcf/d of natural gas.

Sell $255M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-23 TransAlta - Three MW Portfolio

Calgary, Alberta, Canada

TransAlta Corp. - 303 MW Portfolio includes Windrise is a 207 MW wind project under construction located in Municipal District of Willow Creek, Alberta. Skookumchuck is a 137 MW wind facility in operation located across Thurston and Lewis Counties in Washington State. Ada is a 29 MW cogeneration facility in operation located in Ada, Michigan.

Sell -
SELLER

Tidewater

Calgary, Alberta, Canada
Category Company
Founded 2015
Sector Oil/Gas Exploration
Employees392
Revenue 2.2B CAD (2023)
DESCRIPTION

Tidewater is a diversified midstream and energy infrastructure business with transmission, transportation, processing, marketing, and terminalling assets across Alberta and B.C. Tidewater provides solutions to upstream oil and gas producers to efficiently and sustainably get their products to market using Tidewater’s unique and integrated asset base. Tidewater was founded in 2015 and is based in Calgary, Alberta.

DEAL STATS #
Overall 2 of 2
Sector (Utilities) 1 of 1
Type (Divestiture) 2 of 2
State (Alberta) 2 of 2
Country (Canada) 2 of 2
Year (2020) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-18 Pioneer Pipeline

Calgary, Alberta, Canada

Pioneer Pipeline is a 20 inch, 120km pipeline that provides approximately 130MMcf/d of natural gas.

Sell $255M
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