M&A Deal Summary

BP Acquires Clean Energy Fuels - Biomethane Business

On March 1, 2017, BP acquired energy services and equipment company Clean Energy Fuels - Biomethane Business from Clean Energy for 155M USD

Acquisition Highlights
  • This is BP’s 2nd transaction in the Energy Services and Equipment sector.
  • This is BP’s 6th largest (disclosed) transaction.
  • This is BP’s 3rd transaction in the United States.
  • This is BP’s 2nd transaction in California.

M&A Deal Summary

Date 2017-03-01
Target Clean Energy Fuels - Biomethane Business
Sector Energy Services and Equipment
Buyer(s) BP
Sellers(s) Clean Energy
Deal Type Divestiture
Deal Value 155M USD

Target

Clean Energy Fuels - Biomethane Business

Newport Beach, California, United States
Clean Energy Fuels Corp. - Biomethane Business is provider of downstream renewable natural gas products and services in US.

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Buyer(S) 1

Buyer

BP

London, United Kingdom

Category Company
Founded 1908
Sector Oil/Gas Exploration
Employees87,800
Revenue 210.1B USD (2023)
DESCRIPTION
BP fuel station in Duluth, Minnesota.
BP fuel station in Duluth, Minnesota.

BP is an integrated oil and gas company with operations in Europe, the US, Canada, Russia, South America, Australasia, Asia and parts of Africa. BP provides customers with fuel for transportation, energy for heat and light, lubricants, and petrochemicals products used to make items as diverse as paints, clothes and packaging. BP was founded in 1908 and is based in London, England.


DEAL STATS #
Overall 5 of 9
Sector (Energy Services and Equipment) 2 of 2
Type (Divestiture) 2 of 2
State (California) 2 of 2
Country (United States) 3 of 6
Year (2017) 1 of 1
Size (of disclosed) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-28 Cleopatra Gas Gathering Company

United States

Cleopatra Gas Gathering Company LLC is a 115-mile gas gathering pipeline in Southern Green Canyon, with access to Atwater Valley, Walker Ridge, and Lund areas in the Gulf of Mexico. Cleopatra is currently connected to the Holstein, Atlantis, Neptune, Shenzi and Mad Dog platforms. The system will transport new volumes from the Mad Dog 2 field once it comes online.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-14 Olympic Pipeline

Renton, Washington, United States

The Olympic Pipeline is a regulated interstate refined products pipeline system that spans approximately 400 miles across the states of Washington and Oregon.

Sell -

Seller(S) 1

SELLER

Clean Energy

Newport Beach, California, United States

Category Company
Founded 2001
Sector Energy Services and Equipment
Employees566
Revenue 425M USD (2023)
DESCRIPTION

Clean Energy is a provider of vehicular natural gas (CNG and LNG) as an alternative fuel to vehicle fleets across the US. Clean Energy was founded in 2001 and is based in Newport Beach, California.


DEAL STATS #
Overall 3 of 3
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 3 of 3
State (California) 1 of 1
Country (United States) 3 of 3
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-06-28 ServoTech Engineering

Belleville, Michigan, United States

ServoTech offers a total engineering solution from initial concept phase to prototype hardware and final prove-out, including design and development of electronic products, software development, automotive exhaust simulation and testing, spark-ignition gasoline and diesel emissions technology, and offers technical training and education in a variety of subject areas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-13 Rimere

Newport Beach, California, United States

Rimere is an advanced technology solutions company focused on providing practical and meaningful products that reduce the impact of GHG emissions and deliver affordable zero-emission hydrogen to meet increasing global energy demands. Rimere is based in Newport Beach, California.

Buy -