M&A Deal Summary

EquiPower Resources Acquires Richland-Stryker Generation

On January 27, 2014, EquiPower Resources acquired utilities company Richland-Stryker Generation from Lotus Infrastructure Partners and Post Oak Energy Capital

Acquisition Highlights
  • This is EquiPower Resources’ 1st transaction in the Utilities sector.
  • This is EquiPower Resources’ 1st transaction in the United States.
  • This is EquiPower Resources’ 1st transaction in Ohio.

M&A Deal Summary

Date 2014-01-27
Target Richland-Stryker Generation
Sector Utilities
Buyer(s) EquiPower Resources
Sellers(s) Lotus Infrastructure Partners
Post Oak Energy Capital
Deal Type Add-on Acquisition

Target

Richland-Stryker Generation

Defiance, Ohio, United States
Richland and Stryker are 444 MW and 20 MW simple cycle power plants in Northwest Ohio. The projects participate in the PJM forward capacity market and sell power on a merchant basis.

Search 201,157 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 1

Buyer

EquiPower Resources

Hartford, Connecticut, United States

Category Company
Founded 2010
Sector Utilities
DESCRIPTION

EquiPower Resources Corp. is a power generation company with 1,244 MW of combined cycle gas turbine power plants:   Lake Road, a 3?unit 812 MW facility commissioned in 2002 and located in Killingly, CT; MASSPOWER, a 2?unit 264 MW facility commissioned in 1993 and located in Indian Orchard, MA; and Dighton, a single unit 168 MW facility commissioned in 1999 and located in Dighton, MA.   


DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Ohio) 1 of 1
Country (United States) 1 of 1
Year (2014) 1 of 1

Seller(S) 2

SELLER

Lotus Infrastructure Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2005
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Starwood Energy Group, an affiliate of Starwood Capital Group, is a private equity firm that targets investments in energy infrastructure assets. Starwood Energy looks to invest in hard assets with strong contracted cash-flow. This includes opportunistic acquisitions as well as development-stage commitments. The Group's target investment size is $50 to $200 million. Starwood Energy was formed in 2005 and is based in Greenwich, Connecticut.


DEAL STATS #
Overall 4 of 9
Sector (Utilities) 3 of 6
Type (Add-on Acquisition) 1 of 2
State (Ohio) 1 of 1
Country (United States) 3 of 8
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-01 CalPeak Power

San Diego, California, United States

CalPeak Power is a portfolio of five simple-cycle, natural gas-fired peaking projects, totaling 260 MW of capacity, located in California. The plants are fully contracted to Pacific Gas & Electric and San Diego Gas & Electric via back-to-back agreements with the California Department of Water Resources.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-08 Nautilus Solar Energy

Summit, New Jersey, United States

Nautilus Solar Energy LLC is a national solar acquisition, development, and asset management company. Nautilus focuses on acquiring, developing, executing and managing distributed and utility-scaled generation solar projects. Nautilus Solar Energy LLC was formed in 2006 and is based in Summit, New Jersey.

Sell -
SELLER

Post Oak Energy Capital

Houston, Texas, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
Size Middle-Market
Type Sector Focused
DESCRIPTION

Post Oak Energy Capital is a private investment firm focused on growth capital investments US energy companies. Specific areas of interest include exploration and production, oilfield services (manufacturing/distribution), and midstream/related infrastructure assets. Post Oak Energy Capital is based in Houston, Texas.


DEAL STATS #
Overall 4 of 13
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 2 of 3
State (Ohio) 1 of 1
Country (United States) 4 of 13
Year (2014) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Post Oak Minerals

Houston, Texas, United States

Post Oak Minerals is an held oil and gas company focused on the acquisition and management of mineral and royalty interests in established basins throughout the US. Post Oak Minerals is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-09 Oryx Midstream Services

Midland, Texas, United States

Oryx Midstream Services is a midstream crude operator in the Permian Basin. Oryx Midstream Services owns and operates a crude oil gathering and transportation system underpinned by nearly one million acres under long-term dedications from more than 20 customers. The system's 2.1 million barrels of storage and approximately 1,200 miles of in-service and under-construction pipeline span eight counties in Texas and two in New Mexico. Oryx Midstream Services was founded in 2013 and is based in Midland, Texas.

Buy -