M&A Deal Summary

GES Acquires GPS

On February 1, 2023, GES acquired energy services and equipment company GPS from Blue Water Energy and White Deer Energy

Acquisition Highlights
  • This is GES’s 1st transaction in the Energy Services and Equipment sector.
  • This is GES’s 1st transaction in Singapore.

M&A Deal Summary
Date 2023-02-01
Target GPS
Sector Energy Services and Equipment
Buyer(s) GES
Sellers(s) Blue Water Energy
White Deer Energy
Deal Type Merger

Target

GPS

Singapore, Singapore
GPS is a midstream infrastructure platform formed to pursue the acquisition, construction and enhancement of storage and logistics assets outside North America. GPS owns a refined product terminal in the Port of Amsterdam and has two projects under construction – an industrial services terminal in Al Hamriyah Port in Sharjah, United Arab Emirates and an LPG terminal in Port Klang, Malaysia. GPS is based in Singapore.

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Buyer(S) 1

Buyer

GES

Singapore, Singapore
Category Company
Sector Energy Services and Equipment
DESCRIPTION

GES is an independent energy storage company that develops and operates first-class energy storage assets to create a global terminal network. Their strategic focus is to facilitate the energy transition by developing the infrastructure needed to move towards ever more sustainable and low carbon energy use. GES is based in Singapore.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Merger) 1 of 1
Country (Singapore) 1 of 1
Year (2023) 1 of 1

Seller(S) 2

SELLER

Blue Water Energy

Investor Investor Investor Investor Investor

Category Private Equity Firm
PE ASSETS 861M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Blue Water Energy is a private equity firm focused on building energy companies. Blue Water looks to invest up to $150 million per project with a focus on production, upstream equipment and services, and midstream/downstream equipment and services. Blue Water typically invests in partnership with experienced management teams that have a track record of value creation. Blue Water Energy was formed in 2011 and is based in London.

DEAL STATS #
Overall 5 of 8
Sector (Energy Services and Equipment) 3 of 5
Type (Merger) 1 of 1
Country (Singapore) 1 of 1
Year (2023) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-11 Siccar Point Energy

Aberdeen, United Kingdom

Siccar Point Energy Ltd. is a full-cycle production, development and exploration company focussed on high quality, low cost, long-life assets on the UK Continental Shelf. Siccar business now includes interests in four of the largest UK assets by remaining reserves (Schiehallion, Mariner, Cambo, and Rosebank) as well as an extensive portfolio of additional high-quality material development and exploration opportunities. Siccar Point Energy is based in Aberdeen, United Kingdom.

Sell $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-23 Mime Petroleum

Oslo, Norway

Mime Petroleum is a new exploration, development, and production company focused on the Norwegian Continental Shelf. Mime Petroleum's vision is to build a major NCS independent E&P company, through building a material portfolio of producing and commercial reserves and driving post-acquisition investment activity. Mime Petroleum is based in Oslo, Norway.

Sell -
SELLER

White Deer Energy

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2008
PE ASSETS 2.7B USD
Size Large
Type Sector Focused
DESCRIPTION

White Deer Energy is a specialist private equity investment group focused on the energy sector. White Deer targets equity investments of $25 to $100 million in companies active in oil and gas production, oil service and equipment manufacturing and midstream infrastructure. Prospective transaction situations include companies in need of capital for growth, companies with follow-on opportunities, or management teams looking to continue to operate their companies. The Firm prefers control or co-control positions. White Deer Energy was formed in 2008 and has offices in Houston, Texas and New York, New York.

DEAL STATS #
Overall 13 of 17
Sector (Energy Services and Equipment) 9 of 13
Type (Merger) 2 of 3
Country (Singapore) 1 of 1
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-10 Fortress Power

Southampton, Pennsylvania, United States

Fortress Power is a designer and manufacturer of battery energy storage systems for residential, commercial, and industrial customers. Fortress Power operations across North America, the Caribbean, Central America, and Asia. Fortress Power was founded in 2016 and is based in Southampton, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-01 WeldFit

Houston, Texas, United States

WeldFit is a manufacturer and provider of critical pipeline maintenance, emissions management, and flow assurance products and services to the US natural gas infrastructure market. WeldFit was founded in 1968 and is based in Houston, Texas.

Buy -
Mergr

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