M&A Deal Summary

Cogentrix Energy Acquires Bridgeport Energy

On November 26, 2018, Cogentrix Energy acquired utilities company Bridgeport Energy from Emera

Acquisition Highlights
  • This is Cogentrix Energy’s 2nd transaction in the Utilities sector.
  • This is Cogentrix Energy’s 2nd transaction in the United States.
  • This is Cogentrix Energy’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2018-11-26
Target Bridgeport Energy
Sector Utilities
Buyer(s) Cogentrix Energy
Sellers(s) Emera
Deal Type Divestiture

Target

Bridgeport Energy

Bridgeport, Connecticut, United States
Bridgeport Energy is a natural gas-fired combined cycle power generation plant located in Bridgeport, Connecticut, with a nominal capacity of 520 megawatts (MW).

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Buyer(S) 1

Buyer

Cogentrix Energy

Charlotte, North Carolina, United States
Category Company
Founded 1983
Sector Renewable Energy
DESCRIPTION

Cogentrix Energy is an independent power producer with a long track record of successfully acquiring, developing, constructing, operating and improving power generation assets across the United States. Cogentrix Energy was founded in 1983 and is based in Charlotte, North Carolina.

DEAL STATS #
Overall 2 of 2
Sector (Utilities) 2 of 2
Type (Divestiture) 2 of 2
State (Connecticut) 1 of 1
Country (United States) 2 of 2
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-26 Tiverton Power

Tiverton, Rhode Island, United States

Tiverton Power owns and operates natural gas-fired combined cycle power generation plant. Tiverton Power was founded in 2007 and is based in Tiverton, Rhode Island.

Buy -

Seller(S) 1

SELLER

Emera

Halifax, Nova Scotia, Canada
Category Company
Founded 1998
Sector Utilities
Employees7,366
Revenue 7.6B CAD (2023)
DESCRIPTION

Emera is a geographically diverse energy and services company. The company invests in electricity generation, transmission, and distribution, as well as gas transmission and utility energy services. Emera was founded in 1998 and is based in Halifax, Canada.

DEAL STATS #
Overall 3 of 4
Sector (Utilities) 3 of 4
Type (Divestiture) 2 of 3
State (Connecticut) 1 of 1
Country (United States) 3 of 4
Year (2018) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-26 Tiverton Power

Tiverton, Rhode Island, United States

Tiverton Power owns and operates natural gas-fired combined cycle power generation plant. Tiverton Power was founded in 2007 and is based in Tiverton, Rhode Island.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-03-25 Emera Maine

Bangor, Maine, United States

Emera Maine is a regulated electric transmission and distribution utility. Emera Maine installs, operates and maintain transmission and distribution infrastructure such as poles and wires, substations, and meters. Emera Maine was founded in 2014 and is based in Bangor, Maine.

Sell $1.3B
Mergr

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