M&A Deal Summary

EQT Acquires Scale Microgrids

On January 9, 2025, private equity firm EQT acquired energy services and equipment company Scale Microgrids from Warburg Pincus

Acquisition Highlights
  • This is EQT’s 9th transaction in the Energy Services and Equipment sector.
  • This is EQT’s 55th transaction in the United States.
  • This is EQT’s 7th transaction in New Jersey.

M&A Deal Summary

Date 2025-01-09
Target Scale Microgrids
Sector Energy Services and Equipment
Buyer(s) EQT
Sellers(s) Warburg Pincus
Deal Type Secondary Buyout
Advisor(s) Nomura Greentech
Truist Securities (Financial)
Latham & Watkins (Legal)

Target

Scale Microgrids

Ridgewood, New Jersey, United States
Scale Microgrids is a vertically integrated solutions provider building the bridge to a sustainable energy future by transforming cutting-edge clean technologies into integrated packaged solutions. Scale Microgrids is based in Ridgewood, New Jersey.

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Buyer(S) 1

Buyer

EQT

Stockholm, Sweden

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 242.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

EQT is a global private equity group that purses a variety of investment strategies around the world. EQT is divided into several investment disciplines, including private capital, real assets, credit, and venture. The Firm's private capital group targets large, market-leading enterprises (investment size of €125 to €1.5 billion) across Europe and the US, as well as mid-market, growth companies (investment size of €40 to €125 million) across the US, Europe, China, and Southeast Asia. The Firm's real assets group seeks to identify control or co-control equity investments (investment size of €500 to €1 billion) in medium-sized infrastructure companies that provide an essential service to society, are recession resilient, and have secure cash flows. EQT's credit group provides flexible, long-term debt capital solutions to medium-sized European businesses, across a wide range of sectors. EQT was established in 1994 and is headquartered in Stockholm, Sweden.


DEAL STATS #
Overall 308 of 318
Sector: Energy Services and Equipment M&A 9 of 9
Type: Secondary Buyout M&A Deals 96 of 101
State: New Jersey M&A 7 of 7
Country: United States M&A 55 of 60
Year: 2025 M&A 1 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-12-27 O2 Power

Gurugram, India

O2 Power is a renewable energy platform to develop and execute utility-scale renewable projects across solar, wind, and hybrid with good quality off-takers via both greenfield project development and M&A. O2 Power was founded in 2020 and is based in Gurugram, India.

Sell $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-03-14 Crown Castle - Small Cells Solutions Business

Houston, Texas, United States

Crown Castle’s Small Cells Solutions business builds and operates small cells nationwide, serving mobile densification needs for cellular carriers. Crown Castle’s Small Cells Solutions business is based in Houston, Texas.

Buy $4.3B

Seller(S) 1

SELLER

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 252 of 263
Sector: Energy Services and Equipment M&A 6 of 6
Type: Secondary Buyout M&A Deals 44 of 47
State: New Jersey M&A 6 of 6
Country: United States M&A 138 of 148
Year: 2025 M&A 1 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-07 Mashura

Scottsdale, Arizona, United States

Mashura is a provider of innovative health care automation and cloud-based business intelligence solutions that enable veterinary and dental facilities to improve medication care, cost and patient outcomes, while at the same time increasing regulatory compliance. Mashura is based in Scottsdale, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-01-13 Truhome

Chennai, India

Truhome is a housing finance organization. Truhome was founded in 2010 and is based in Chennai, Tamil Nadu.

Buy Rs46.3B