Investment Summary

Carnelian Energy Capital, Longbow Capital, CPP Investments and Bluestem Equity Invest In VoltaGrid

On February 2, 2021, private equity firm Carnelian Energy Capital, private equity firm Longbow Capital, pension CPP Investments and growth capital firm Bluestem Equity invested in utilities company VoltaGrid

Investment Highlights
  • This is Carnelian Energy Capital’s 1st, Longbow Capital’s 1st, CPP Investments’ 3rd and Bluestem Equity’s 1st transaction in the Utilities sector.
  • This is Carnelian Energy Capital’s 12th, Longbow Capital’s 2nd, CPP Investments’ 19th and Bluestem Equity’s 1st transaction in the United States.
  • This is Carnelian Energy Capital’s 9th, Longbow Capital’s 1st, CPP Investments’ 6th and Bluestem Equity’s 1st transaction in Texas.

Investment Summary

Date 2021-02-02
Target VoltaGrid
Sector Utilities
Investor(s) Carnelian Energy Capital
Longbow Capital
CPP Investments
Bluestem Equity
Deal Type Growth Capital

Target

VoltaGrid

Houston, Texas, United States
VoltaGrid is an advanced energy management and generation company that is developing an innovative platform to provide power, energy storage, and emissions reductions for the pressure pumping, remote mining, utility, and distributed generation industries. VoltaGrid was founded in 2020 and is based in Houston, Texas.

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Investor(S) 4

Investor

Carnelian Energy Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2015
PE ASSETS 1.8B USD
Size Large
Type Sector Focused
DESCRIPTION

Carnelian Energy Capital is a private investment firm focused on the North American upstream, midstream, and oilfield services sectors of the energy sector. Carnelian Energy Capital was established in 2015 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 13 of 17
Sector (Utilities) 1 of 1
Type (Growth Capital) 13 of 17
State (Texas) 9 of 10
Country (United States) 12 of 15
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-30 Hawthorne Energy

Calgary, Alberta, Canada

Hawthorne Energy is a privately held oil and natural gas exploration and production company focused on acquiring assets in select onshore basins in North America. Hawthorne Energy was founded in 2020 and is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-10-06 Azul Resources

Houston, Texas, United States

Azul Resources is an independent exploration and production company focused on acquisitions in premier natural gas basins in North America. Azul Resources is based in Houston, Texas.

Buy -
Investor

Longbow Capital

Calgary, Alberta, Canada

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 475M CAD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Longbow Capital is a private investment group focused on small to mid-sized oil and natural gas opportunities in Western Canada. Longbow was formed in 1997 and is based in Calgary.


DEAL STATS #
Overall 5 of 6
Sector (Utilities) 1 of 2
Type (Growth Capital) 1 of 2
State (Texas) 1 of 1
Country (United States) 2 of 3
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-04-18 Lithion Group

Henderson, Nevada, United States

Lithion Group engages in business of designing, developing, manufacturing, and selling primary lithium thionyl chloride, lithium sulfuryl chloride, lithium CFX, and lithium CFX Mno2 cells and packs. Lithion Power Group manufactures non-rechargeable primary lithium cells specifically designed to work in high vibration/shock environments with temperature ratings of up to 225°C. Lithion Group was founded in 1998 and based in Henderson, Nevada.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-19 Amped Up Power Solutions

Centennial, Colorado, United States

Amped Up Power Solutions provides a cleaner, safer, and more cost-effective solution to powering the ancillary equipment on location during drilling, completions, and drill out operations. Amped Up Power Solutions is based in Centennial, Colorado.

Buy -
Investor
DESCRIPTION

CPP Investments is a Canadian pension fund focused on a variety of investing strategies, including public equities, debt, and alternative investments. The Firm's private equity arm looks to acquire direct stakes in private companies, as well as make fund investments and acquire secondary positions. For direct stakes in companies, CPP looks to invest across North American and Europe and seeks to commit a minimum of $150 million per transaction. CPP has no industry preferences however the Firm will not invest in real assets. CPP Investments was established in 1997 and is based in Toronto, Ontario.


DEAL STATS #
Overall 36 of 51
Sector (Utilities) 3 of 4
Type (Growth Capital) 3 of 3
State (Texas) 6 of 6
Country (United States) 19 of 26
Year (2021) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-13 Petco Health and Wellness Company

San Diego, California, United States

Petco Health and Wellness Company is a health and wellness company focused on improving the lives of pets, pet parents, and their own Petco partners. The company is focused on delivering comprehensive wellness solutions through its products and services, and creating communities that deepen the pet-pet parent bond. It operates more than 1,500 Petco locations across the U.S., Mexico, and Puerto Rico, including a growing network of more than 100 in-store veterinary hospitals, and offer a complete online resource for pet health and wellness. Petco Health and Wellness Company was founded in 1965 and is based in San Diego, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-22 Iguá Saneamento

Sao Paulo, Brazil

Iguá Saneamento manages and operates water supply and sewage systems through concessions and public-private partnerships. The Company’s activities include water collection, treatment, overall water distribution, sewage collection and treatment, as well as project formulation and technical studies. Iguá Saneamento is based in Sao Paulo, Brazil.

Buy -
DESCRIPTION


DEAL STATS #
Overall 1 of 4
Sector (Utilities) 1 of 2
Type (Growth Capital) 1 of 2
State (Texas) 1 of 2
Country (United States) 1 of 4
Year (2021) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-22 CES Power

Memphis, Tennessee, United States

CES Power is a provider of specialty mobile power generation, power distribution, and temperature control services. CES Power was founded in 2000 and is based in Memphis, Tennessee.

Buy -