M&A Deal Summary

Energtek Acquires HOP Energy

On September 21, 2016, Energtek acquired energy services and equipment company HOP Energy for 65M USD

Acquisition Highlights
  • This is Energtek’s 1st transaction in the Energy Services and Equipment sector.
  • This is Energtek’s largest (disclosed) transaction.
  • This is Energtek’s 1st transaction in the United States.
  • This is Energtek’s 1st transaction in New York.
Investment Fate
  • HOP Energy was divested to a consortium of buyers in 2018.

M&A Deal Summary
Date 2016-09-21
Target HOP Energy
Sector Energy Services and Equipment
Buyer(s) Energtek
Deal Type Add-on Acquisition
Deal Value 65M USD

Target

HOP Energy

Rye Brook, New York, United States
HOP Energy is a provider of heating oil, propane, and other petroleum products and related services to homeowners and small businesses in the Mid-Atlantic and Northeast regions of the United States. HOP Energy LLC serves a diverse customer base of residential, commercial and light industrial customers, and has a network of 12 strategically located bulk plants providing the Company with roughly 8.4 million gallons of storage capacity. HOP Energy LLC also provides comprehensive HVAC installation and related services. HOP Energy was founded in 1995 and is based in Rye Brook, New York.

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Buyer(S) 1

Buyer

Energtek

New York, New York, United States
Category Company
Sector Energy Services and Equipment
Revenue 7M USD (2015)
DESCRIPTION

Energtek develops and applies innovative mobile energy transportation solutions for small, mid-size and large industrial, residential and agricultural consumers and fleets of small vehicles. Energtek offers cost-effective natural gas delivery solutions based on unique pipe-less technologies and products. Energtek's solutions allow consumers who are not connected to a pipeline to take advantage of natural gas: an inexpensive, environmentally-friendly and safe hydrocarbon energy source. Energtek's solutions enable monetization of natural gas resources where no infrastructure exists, enabling a one-stop-shop for mobile pipe-less natural gas supply: capturing, storage, transport and delivery of natural gas from the source to industrial, commercial, residential and NGV customers. Energtek is headquartered in New York, New York.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-31 HOP Energy

Rye Brook, New York, United States

HOP Energy is a provider of heating oil, propane, and other petroleum products and related services to homeowners and small businesses in the Mid-Atlantic and Northeast regions of the United States. HOP Energy LLC serves a diverse customer base of residential, commercial and light industrial customers, and has a network of 12 strategically located bulk plants providing the Company with roughly 8.4 million gallons of storage capacity. HOP Energy LLC also provides comprehensive HVAC installation and related services. HOP Energy was founded in 1995 and is based in Rye Brook, New York.

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