M&A Deal Summary

ECP Acquires Triple Oak Power

On January 9, 2024, private equity firm ECP acquired energy services and equipment company Triple Oak Power from EnCap Investments

Acquisition Highlights
  • This is ECP’s 14th transaction in the Energy Services and Equipment sector.
  • This is ECP’s 47th transaction in the United States.
  • This is ECP’s 1st transaction in Oregon.

M&A Deal Summary
Date 2024-01-09
Target Triple Oak Power
Sector Energy Services and Equipment
Buyer(s) ECP
Sellers(s) EnCap Investments
Deal Type Secondary Buyout
Advisor(s) Marathon Capital LLC (Financial)
Sidley (Legal)

Target

Triple Oak Power

Portland, Oregon, United States
Triple Oak Power develops and monetizes high-quality renewable energy projects to accelerate the U.S. transition to renewable energy and help shape a more diverse, reliable, and sustainable power grid. Triple Oak Power was founded in 2020 and is based in Portland, Oregon.

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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 49 of 51
Sector (Energy Services and Equipment) 14 of 15
Type (Secondary Buyout) 6 of 7
State (Oregon) 1 of 1
Country (United States) 47 of 48
Year (2024) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-11-02 Heartland Generation

Calgary, Alberta, Canada

Heartland Generation is a power generation company. Heartland Generation provides more than 2,660 MW of safe, reliable and affordable electricity to industrial, commercial and residential customers. Heartland Generation was founded in 2019 and is based in Calgary, Alberta.

Sell $658M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-28 Atlantica Sustainable Infrastructure

Brentford, United Kingdom

Atlantica sustainable infrastructure manages and invests in renewable energy, storage, efficient natural gas and heat, transmission lines and water assets. Atlantica Sustainable Infrastructure was founded in 2014 and is based in Brentford, United Kingdom.

Buy $2.6B

Seller(S) 1

SELLER

EnCap Investments

Houston, Texas, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1988
PE ASSETS 38.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EnCap Investments is a private equity firm focused on the US energy sector. EnCap specifically looks for upstream and midstream opportunities within the oil and gas industry. EnCap generally partners with seasoned management when pursuing investments. EnCap Investments has offices in Dallas and Houston.

DEAL STATS #
Overall 50 of 51
Sector (Energy Services and Equipment) 2 of 2
Type (Secondary Buyout) 11 of 11
State (Oregon) 1 of 1
Country (United States) 49 of 50
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-24 Advance Energy Partners

Houston, Texas, United States

Advance Energy Partners is an exploration and production company focused on acquisition and low-risk leasing and drilling opportunities in Texas and the Rockies.

Sell $1.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-12 Ameredev II

Austin, Texas, United States

Ameredev II is an exploration and production company focused on the acquisition and development of oil and gas properties in the Permian Basin. Ameredev II is based in Austin, Texas.

Sell $1.9B
Mergr

Product

Company

Legal