M&A Deal Summary

ECP Acquires Convergent Energy + Power

On July 10, 2019, private equity firm ECP acquired utilities company Convergent Energy + Power

Acquisition Highlights
  • This is ECP’s 7th transaction in the Utilities sector.
  • This is ECP’s 39th transaction in the United States.
  • This is ECP’s 3rd transaction in New York.

M&A Deal Summary
Date 2019-07-10
Target Convergent Energy + Power
Sector Utilities
Buyer(s) ECP
Deal Type Buyout (LBO, MBO, MBI)

Target

Convergent Energy + Power

New York, New York, United States
Convergent Energy + Power is an independent developer of energy storage solutions in North America. Convergent deploys state-of-the-art technology to significantly lower commercial and industrial customers’ electricity bills and provides utilities with cost-effective grid solutions. Convergent Energy + Power is based in New York.

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Buyer(S) 1

Buyer

ECP

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 27.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ECP is a specialist private equity firm focused on investments in energy infrastructure. Specific areas of interest include power generation, including renewable energy facilities; electric transmission; midstream gas, including gas storage and pipelines; and other energy service businesses and infrastructure assets. The Firm primarily targets opportunities located in North America. ECP was formed in 2005 and is based in Summit, New Jersey.

DEAL STATS #
Overall 40 of 51
Sector (Utilities) 7 of 7
Type (Buyout (LBO, MBO, MBI)) 10 of 12
State (New York) 3 of 3
Country (United States) 39 of 48
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 NESCO

Bluffton, Indiana, United States

NESCO LLC offers its specialized equipment to a diverse customer base for the maintenance, repair, upgrade and installation of critical infrastructure assets including electric lines, telecommunications networks, and rail systems. With a nationwide rental fleet of approximately 4,000 units.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-26 Sunnova

Houston, Texas, United States

Sunnova is a residential solar and energy storage service provider with customers across the U.S. and its territories. Sunnova's goal is to be the source of clean, affordable, and reliable energy with a simple mission: to power energy independence so that homeowners have the freedom to live life uninterrupted. Sunnova was founded in 2012 and is based in Houston, Texas.

Sell -
Mergr

Product

Company

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