M&A Deal Summary

Basalt Infrastructure Partners Acquires AEP OnSite Partners

On May 13, 2024, infrastructure investor Basalt Infrastructure Partners acquired utilities company AEP OnSite Partners from AEP for 315M USD

Acquisition Highlights
  • This is Basalt Infrastructure Partners’ 1st transaction in the Utilities sector.
  • This is Basalt Infrastructure Partners’ 2nd largest (disclosed) transaction.
  • This is Basalt Infrastructure Partners’ 7th transaction in the United States.
  • This is Basalt Infrastructure Partners’ 1st transaction in Ohio.

M&A Deal Summary
Date 2024-05-13
Target AEP OnSite Partners
Sector Utilities
Buyer(s) Basalt Infrastructure Partners
Sellers(s) AEP
Deal Type Divestiture
Deal Value 315M USD

Target

AEP OnSite Partners

Columbus, Ohio, United States
AEP OnSite Partners is a provider of behind-the-meter solutions that assist customers in reducing their energy spend and achieving any other goals specifically tied to their energy consumption. The Company provides technical expertise, market knowledge, and investment capital for a geographically diverse array of energy projects, including solar, combined heat and power, energy storage, electrical substations, fuel cells, waste heat recovery, and peaking generation resources throughout the U.S.

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Buyer(S) 1

Buyer

Basalt Infrastructure Partners

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2011
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Basalt Infrastructure Partners is an infrastucture investor focused on opportunities across North America and Europe. The Firm's principal areas of interest include utilities, energy, and transportation. Basalt prefers assets with significant barriers to entry, sustainable long-term cash-flows, and high operating margins. In addition to acquiring operational assets, the Basalt will also consider late stage construction projects. Basalt Infrastructure Partners was founded in 2011 and is headquartered in London.

DEAL STATS #
Overall 17 of 17
Sector (Utilities) 1 of 1
Type (Divestiture) 2 of 2
State (Ohio) 1 of 1
Country (United States) 7 of 7
Year (2024) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-09-14 Fortbrand Services

Plainview, New York, United States

Fortbrand Services is a provider of maintenance and support equipment for the global aviation industry. Fortbrand’s Ground Support Equipment business provides sales, leasing, and short-term rentals of mission-critical ground support equipment to airlines, ground handling companies, and fixed base operators. The Company’s Airfield Maintenance Equipment business distributes and leases snow removal and maintenance equipment to airports. Fortbrand Services was founded in 1983 and is based in Plainview, New York.

Buy -

Seller(S) 1

SELLER

AEP

Columbus, Ohio, United States
Category Company
Founded 1906
Sector Utilities
Employees16,800
Revenue 19.0B USD (2023)
DESCRIPTION

AEP is a utility holding company. AEP owns nearly 38,000 megawatts of generating capacity in the U.S. AEP also owns the nation’s largest electricity transmission system, a more than 40,000-mile network that includes more 765-kilovolt extra-high voltage transmission lines than all other U.S. transmission systems combined. AEP was founded in 1906 and is based in Columbus, Ohio.

DEAL STATS #
Overall 5 of 5
Sector (Utilities) 2 of 2
Type (Divestiture) 4 of 4
State (Ohio) 2 of 2
Country (United States) 5 of 5
Year (2024) 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-09 American Electric Power - Racine Hydro Plant

Columbus, Ohio, United States

Racine Hydro Plant is a 48-megawatt (MW) hydroelectric Racine Plant in Racine, Ohio.

Sell -
Mergr

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