M&A Deal Summary

Hull Street Energy Acquires Maxim Power

On April 13, 2017, private equity firm Hull Street Energy acquired renewable energy company Maxim Power from Maxim Power for 106M USD

Acquisition Highlights
  • This is Hull Street Energy’s 1st transaction in the Renewable Energy sector.
  • This is Hull Street Energy’s largest (disclosed) transaction.
  • This is Hull Street Energy’s 1st transaction in the United States.
  • This is Hull Street Energy’s 1st transaction in Nevada.

M&A Deal Summary

Date 2017-04-13
Target Maxim Power
Sector Renewable Energy
Buyer(s) Hull Street Energy
Sellers(s) Maxim Power
Deal Type Divestiture
Deal Value 106M USD

Target

Maxim Power

Carson City, Nevada, United States
Maxim Power owns and operates five natural gas-fired electric generation facilities. Maxim Power is based in Carson City, Nevada.

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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 1 of 17
Sector: Renewable Energy M&A 1 of 6
Type: Divestiture M&A Deals 1 of 9
State: Nevada M&A 1 of 1
Country: United States M&A 1 of 17
Year: 2017 M&A 1 of 2
Size (of disclosed) 1 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-12 Eversource Energy - Nine Hydroelectric Facilities

Springfield, Massachusetts, United States

Eversource Energy's Nine Hydroelectric Facilities comprises Hydro Assets – 68.2 MW total nameplate capacity Amoskeag Hydro, Manchester; 16.0 MW Ayers Island, Bristol; 8.4 MW Canaan Hydro, West Stewartstown; 1.1 MW Eastman Falls, Franklin; 6.4 MW Garvins Falls, Bow; 12.1 MW Gorham Hydro, Gorham; 2.2 MW Hooksett Hydro, Hooksett; 1.6 MW Jackman Hydro, Hillsborough; 3.2 MW Smith Hydro, Berlin; 17.2 MW. Eversource Energy's Nine Hydroelectric Facilities is based in Springfield, Massachusetts.

Buy $83M

Seller(S) 1

SELLER

Maxim Power

Calgary, Alberta, Canada

Category Company
Founded 2010
Sector Renewable Energy
Employees46
Revenue 101M CAD (2024)
DESCRIPTION

Maxim Power is an independent power producer that acquires or develops, owns, and operates innovative and environmentally responsible power and power-related projects. MAXIM currently owns and operates 39 power plants in Alberta, the United States, and France, having 778 MW of electric generating capacity. MAXIM provides innovative distributed power solutions in domestic and international energy markets. Maxim Power was founded in 2010 and is based in Calgary, Alberta.


DEAL STATS #
Overall 1 of 2
Sector: Renewable Energy M&A 1 of 1
Type: Divestiture M&A Deals 1 of 2
State: Nevada M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2017 M&A 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-06 Pittsfield Generating Co.

Pittsfield, Massachusetts, United States

The Pittsfield generation facility is a 170 MW combined-cycle, dual-fuel (it has the flexibility to use natural gas or fuel oil) power plant that consists of three combustion turbine generators, three separately fired heat recovery boilers and an extraction/condensation steam turbine generator. The project began commercial generation September 1, 1990 and was awarded Reliability Must Run status on July 16, 2007 retroactive to December 1, 2005.

Buy $52M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-29 Summit Coal

Calgary, Alberta, Canada

Summit Coal manages is a coal mining company, focusing on the extraction and production of coking coal essential for steel manufacturing. Summit Coal is based in Calgary, Alberta.

Sell $14M