M&A Deal Summary

Exelon Acquires MXenergy

On May 12, 2011, Exelon acquired utilities company MXenergy from Charterhouse Strategic Partners and GCP Capital Partners

Acquisition Highlights
  • This is Exelon’s 2nd transaction in the Utilities sector.
  • This is Exelon’s 2nd transaction in the United States.
  • This is Exelon’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2011-05-12
Target MXenergy
Sector Utilities
Buyer(s) Exelon
Sellers(s) Charterhouse Strategic Partners
GCP Capital Partners
Deal Type Add-on Acquisition

Target

MXenergy

Stamford, Connecticut, United States
MXenergy, Inc. is a retail marketer of natural gas and electricity contracts to residential and small commercial customers in 11 states and within two provinces in Canada. The Company offers variable-rate gas and electricity contracts and fixed-price gas contracts of up to three years in length.

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Buyer(S) 1

Buyer

Exelon

Chicago, Illinois, United States
Category Company
Founded 1999
Sector Utilities
Employees19,962
Revenue 21.7B USD (2023)
DESCRIPTION
Exelon's corporate headquarters in downtown Chicago, Illinois.
Exelon's corporate headquarters in downtown Chicago, Illinois.

Exelon is a competitive U.S. power energy provider. Company power generators, with approximately 35,000 megawatts of owned capacity comprising one of the nation’s cleanest and lowest-cost power generation fleets. Exelon was founded in 1999 and is based in Chicago, Illinois.

DEAL STATS #
Overall 2 of 7
Sector (Utilities) 2 of 4
Type (Add-on Acquisition) 2 of 5
State (Connecticut) 1 of 1
Country (United States) 2 of 7
Year (2011) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-10 John Deere Renewables

Johnston, Iowa, United States

John Deere Renewables LLC a operator and developer of wind power, adding 735 operating megawatts of clean, renewable energy.

Buy $860M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-12 Constellation Energy Group

Baltimore, Maryland, United States

Constellation Energy Group, Inc. is an energy company, develops, owns, operates, and maintains fossil and renewable generating facilities in the United States and Canada.

Buy -

Seller(S) 2

SELLER

Charterhouse Strategic Partners

Summit, New Jersey, United States
Category Private Equity Firm
Founded 1973
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Charterhouse Strategic Partners is a private equity firm that targets investments in middle market companies located throughout North America. Charterhouse typically pursues companies valued between $25 and $150 million, however the firm will also consider new platform companies valued less than $50 million if there is the possibility for rapid expansion (organic or through acquisitions). Target companies generally possess highly motivated management with a proven track record, scalable business models, sustainable competitive advantages (brand recognition/proprietary products), and a leading position in a growing market. Broad sectors of interest include business services, healthcare services, consumer products, and consumer services. Charterhouse was founded in 1973 and is based in Summit, New Jersey.

DEAL STATS #
Overall 12 of 16
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 6 of 8
State (Connecticut) 3 of 3
Country (United States) 11 of 15
Year (2011) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-03-07 Camelot Education

East Dripping Springs, Texas, United States

Camelot Education is a provider of services to youth and adolescent populations in both the behavioral health and education markets. Camelot conducts its operations through residential treatment facilities, therapeutic day schools and alternative education and community-based programs.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-19 Suddenlink

St. Louis, Missouri, United States

Suddenlink is a major U.S. cable broadband provider, supporting the information, communication and entertainment demands of approximately 1.3 million customers in North Carolina, West Virginia, Missouri, Arkansas, Louisiana, Texas, Oklahoma and California. Suddenlink was formed in 2003 and is based in St. Louis, Missouri.

Sell $6.6B
SELLER

GCP Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor

Category Merchant Bank
Founded 2000
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GCP Capital Partners consists of GCP US, GCP Europe, and GCP Venture. GCP US targets North American acquisitions. The unit looks to invest $10 to $50 million in businesses valued up to $500 million. GCP Europe targets businesses in the UK and Europe. The European team looks to invest up to £40 million in companies valued up to £100 million. Sectors of interest include business services, education, energy, financial services, insurance and telecommunications.

DEAL STATS #
Overall 12 of 24
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 6 of 10
State (Connecticut) 1 of 1
Country (United States) 10 of 22
Year (2011) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-28 Southwest Risk

Dallas, Texas, United States

Southwest Risk is a specialty wholesale insurance broker that focuses on placement of property and casualty coverages, including real estate, energy, construction and other risks. Southwest Risk is based in Dallas, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 Banner Oil and Gas

Oklahoma City, Oklahoma, United States

Banner Oil and Gas is an oil and gas exploration and production company. Banner Oil and Gas based in Oklahoma and Texas.

Buy -
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