M&A Deal Summary

Hull Street Energy Acquires Foundation Solar Partners

On May 24, 2021, private equity firm Hull Street Energy acquired renewable energy company Foundation Solar Partners

Acquisition Highlights
  • This is Hull Street Energy’s 4th transaction in the Renewable Energy sector.
  • This is Hull Street Energy’s 7th transaction in the United States.
  • This is Hull Street Energy’s 1st transaction in District of Columbia.
Investment Fate
  • Foundation Solar Partners was divested to a consortium of buyers in 2023.

M&A Deal Summary

Date 2021-05-24
Target Foundation Solar Partners
Sector Renewable Energy
Buyer(s) Hull Street Energy
Deal Type Buyout (LBO, MBO, MBI)

Target

Foundation Solar Partners

Washington, District of Columbia, United States
Foundation Solar Partners is an independent solar resource development company that collaborates with landowners, utilities, and local communities to develop utility-scale projects in the eastern United States. Foundation Solar Partners headquartered in Washington, District of Columbia.

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Buyer(S) 1

DESCRIPTION

Hull Street Energy is a private investment firm focused on the energy sector. Hull Street Energy invests in middle-market power companies that are strategically positioned for growth as North American fuel supply, generation, transmission, and behind-the-meter assets transition to support a more sustainable future. Hull Street seeks controlling equity investments in middle market energy opportunities including operating gas fired power plants, operating and late stage development renewable projects, electricity transmission and distribution assets, and demand side resources such as grid optimization, distributed generation, and customer supply businesses. Hull Street Energy was formed in 2014 and is based in Bethesda, Maryland.


DEAL STATS #
Overall 7 of 17
Sector: Renewable Energy M&A 4 of 6
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 2
State: District of Columbia M&A 1 of 1
Country: United States M&A 7 of 17
Year: 2021 M&A 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-01 FirstLight Waterbury Generation

Waterbury, Massachusetts, United States

FirstLight Waterbury Generation provides 96 megawatts of flexible, fast-start natural gas power generation capacity to the New England region. FirstLight Waterbury Generation is in Waterbury, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-10 Waterbury Generation Facility

Waterbury, Connecticut, United States

Waterbury Generation Facility provides 96 megawatts of flexible, fast-start natural gas power generation capacity to the New England region. Waterbury Generation Facility is based in Waterbury, Connecticut.

Buy -