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  5. Denham Capital Acquires GNPower Mariveles Coal Plant Co.

M&A Deal Summary

Denham Capital Acquires GNPower Mariveles Coal Plant Co.

On June 1, 2007, private equity firm Denham Capital acquired utilities company GNPower Mariveles Coal Plant Co.

Acquisition Highlights
  • This is Denham Capital’s 2nd transaction in the Utilities sector.
  • This is Denham Capital’s 1st transaction in Philippines.
Investment Fate
  • GNPower Mariveles Coal Plant Co. was sold to a publicly-traded strategic buyer in 2012 for 155M USD.

M&A Deal Summary
Date 2007-06-01
Target GNPower Mariveles Coal Plant Co.
Sector Utilities
Buyer(s) Denham Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

GNPower Mariveles Coal Plant Co.

Manila, Philippines
GNPower Mariveles Coal Plant Ltd. Co. (GMCP) was established in 1997 to develop, own and operate power generation projects and associated facilities in the Philippines. The Company is in the late stages of development of a 2x300MW coal-fired power plant (Mariveles) on Luzon Island. The plant will sell a significant portion of its output under long-term contracts to local counterparties. GNPower is headed by two local professionals who have developed, built, and financed power projects in the Philippines and the Asia-Pacific region.

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Buyer(S) 1

Buyer

Denham Capital

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 9.7B USD
Size Mega
Type Sector Focused
DESCRIPTION

Denham Capital Management is a specialist private investment firm focused on the energy and commodities sectors. Denham looks to invest in businesses and assets involving natural resources, metals and mining, power and utilities, and energy-related infrastructure and services. Denham will consider investments worldwide, with current projects in the US, Canada, South America, Europe, and Asia. Denham will also consider both development projects as well as mature, operating businesses. The Firm's target investment size is $50 to $200 million. Denham Capital Management was founded in 2004 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 5 of 46
Sector: Utilities M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 7
Country: Philippines M&A 1 of 1
Year: 2007 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-12-18 Greene s Energy

Houston, Texas, United States

Greene's Energy is an oilfield services company focused on the completion and production markets in South Texas, West Texas, and New Mexico and also has certain divisions in Louisiana. The company provides well testing, flow back, and frac support services including wellhead protection. Greene's Energy was founded in 1953 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-16 Recycled Energy Development

Westmont, Illinois, United States

Recycled Energy Development's (RED) mission is to profitably reduce greenhouse gas emissions by developing and owning energy recycling facilities that focus on wasted heat resources, organic wastes, combined heat and power and other ways to reduce carbon footprint. For industrial 'host' partners, RED reduces energy costs and carbon footprint substantially, increases reliability, and offers the opportunity for emissions credits.

Buy -
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