M&A Deal Summary

I Squared Capital Acquires Atlantic Power

On January 14, 2021, infrastructure investor I Squared Capital acquired utilities company Atlantic Power for 961M USD

Acquisition Highlights
  • This is I Squared Capital’s 8th transaction in the Utilities sector.
  • This is I Squared Capital’s 7th largest (disclosed) transaction.
  • This is I Squared Capital’s 5th transaction in the United States.
  • This is I Squared Capital’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2021-01-14
Target Atlantic Power
Sector Utilities
Buyer(s) I Squared Capital
Deal Type Going Private
Deal Value 961M USD
Advisor(s) Cleary Gottlieb Steen & Hamilton (Legal)

Target

Atlantic Power

Dedham, Massachusetts, United States
Atlantic Power is a power generation and infrastructure company with a well-diversified portfolio of assets in the United States and Canada. Atlantic Power was formed in 2004 and is based in Dedham, Massachusetts.

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Buyer(S) 1

DESCRIPTION

I Squared Capital is a global infrastructure investment manager focusing on energy, utilities, and transportation assets in North America, Europe, and select high growth economies. I Squared Capital was established in 2012 and is headquartered in New York City.


DEAL STATS #
Overall 23 of 50
Sector (Utilities) 8 of 12
Type (Going Private) 1 of 3
State (Massachusetts) 1 of 1
Country (United States) 5 of 14
Year (2021) 2 of 11
Size (of disclosed) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 THINK Gas

Noida, India

THINK Gas is a gas utility building and operating city gas distribution networks, supplying natural gas to households, industries and automobiles across India. THINK Gas was founded in 2018 and is based in Noida, Uttar Pradesh.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-24 Transportation Equipment Network

Dublin, Ohio, United States

Transportation Equipment Network is a provider of rentals, leasing, maintenance, and trailer sales. Transportation Equipment Network’s overall objective is to serve as a solution for all customers’ semi-trailer needs, whether that be for rental, leasing, maintenance/repair (on both Star rental/lease trailers as well as a customer’s company-owned trailers), as well as the purchase and sale of new and used trailers. Star’s current resources for serving customers’ maintenance needs includes a total of 57 service bays across its current branch shop locations, in addition to a fleet of 54 mobile service trucks for on-site maintenance. Transportation Equipment Network is based in Dublin, Ohio.

Buy -