M&A Deal Summary

Hoosier Energy Rural Electric Cooperative and Wabash Valley Power Association Acquire Holland Energy

On April 15, 2008, Hoosier Energy Rural Electric Cooperative and Wabash Valley Power Association acquired energy services and equipment company Holland Energy from Tenaska Capital Management for 383M USD

Acquisition Highlights
  • This is Hoosier Energy Rural Electric Cooperative’s 1st and Wabash Valley Power Association’s 1st transaction in the Energy Services and Equipment sector.
  • This is Hoosier Energy Rural Electric Cooperative’s and Wabash Valley Power Association’s largest (disclosed) transaction.
  • This is Hoosier Energy Rural Electric Cooperative’s 1st and Wabash Valley Power Association’s 1st transaction in the United States.
  • This is Hoosier Energy Rural Electric Cooperative’s 1st and Wabash Valley Power Association’s 1st transaction in Maryland.

M&A Deal Summary
Date 2008-04-15
Target Holland Energy
Sector Energy Services and Equipment
Buyer(s) Hoosier Energy Rural Electric Cooperative
Wabash Valley Power Association
Sellers(s) Tenaska Capital Management
Deal Type Add-on Acquisition
Deal Value 383M USD

Target

Holland Energy

Baltimore, Maryland, United States
Holland Energy LLC is a combined-cycle plant provides electric generating capacity to the Midwest Independent System Operator (MISO) market.

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Buyer(S) 2

Buyer

Hoosier Energy Rural Electric Cooperative

Bloomington, Indiana, United States
Category Company
Sector Energy Services and Equipment
DESCRIPTION

Hoosier Energy is a generation and transmission cooperative providing wholesale electric power and services to 18 member distribution cooperatives in central and southern Indiana and southeastern Illinois.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
Buyer

Wabash Valley Power Association

Indianapolis, Indiana, United States
Category Company
Founded 1963
Sector Energy Services and Equipment
DESCRIPTION

Wabash Valley Power Association is an electric generation and transmission cooperative headquartered in Indianapolis, Indiana.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Maryland) 1 of 1
Country (United States) 1 of 1
Year (2008) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 1

SELLER

Tenaska Capital Management

Omaha, Nebraska, United States
Category Private Equity Firm
Founded 2003
PE ASSETS 3.2B USD
Size Large
Type Sector Focused
DESCRIPTION

Tenaska Capital Management (TCM) is the private equity affiliate of integrated energy company Tenaska. TCM was formed to leverage Tenaska's sector expertise to pursue opportunities for investment in the North American energy sector. Specific areas of interest include power generating plants; national providers of transmission and pipeline construction and maintenance services; and natural gas storage facilities. Tenaska Capital Management is based in Omaha, Nebraska.

DEAL STATS #
Overall 1 of 15
Sector (Energy Services and Equipment) 1 of 10
Type (Add-on Acquisition) 1 of 9
State (Maryland) 1 of 1
Country (United States) 1 of 15
Year (2008) 1 of 4
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-03-01 Frontier Midstream Solutions II

Tulsa, Oklahoma, United States

Frontier Midstream Solutions II LLC was formed in March 2008 with a strategy of acquiring and/or building greenfield midstream development projects, initially located in the Fayetteville Shale, Marcellus Shale, Permian Basin, and the Mid-Continent area.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-12 APT Generation

Omaha, Nebraska, United States

APT Generation LLC owned three relatively new natural gas-fired electricity generation plants known as Armstrong (western Pennsylvania), Pleasants (West Virginia), and Troy (northwestern Ohio) with combined capacity of 1,538 megawatts. These facilities utilize modern simple-cycle generation technology which is efficient, reliable and flexible.

Sell -
Mergr

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