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Divestiture • Utilities

I Squared Capital Acquires IC Power - Latin American and Caribbean businesses

On November 26, 2017, infrastructure investor I Squared Capital acquired utilities company IC Power - Latin American and Caribbean businesses from I.C. Power for 1.2B USD

Acquisition Context
  • This is I Squared Capital’s 4th transaction in the Utilities sector.
  • This is I Squared Capital’s 6th largest (disclosed) transaction.
  • This is I Squared Capital’s 2nd transaction in Peru.

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M&A Deal Summary
Date November 26, 2017
Target IC Power - Latin American and Caribbean businesses
Sector Utilities
Buyer(s) I Squared Capital
Sellers(s) I.C. Power
Deal Type Divestiture
Deal Value 1.2B USD

Target Company

IC Power - Latin American and Caribbean businesses

San Isidro, Peru
IC Power's Latin American and Caribbean businesses is an independent power producers in Latin America, which has a highly contracted portfolio of approximately 3.4 gigawatts of gross installed capacity in nine countries, with a fleet of highly efficient hydroelectric, wind and thermal facilities across the region. The company also owns an electricity distribution company servicing approximately 1.7 million customers.
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Buyer Overview 1

Buyer

I Squared Capital

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2012
Size Small
Type Sector Focused
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 Context for Buyer #
Overall 10 of 54
Sector: Utilities 4 of 12
Type: Divestiture 4 of 8
Country: Peru 2 of 3
Year: 2017 4 of 5
Size (of disclosed) 6 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-24 Pinnacle Midstream

Houston, Texas, United States

Pinnacle Midstream provides gas gathering and processing, crude oil gathering and transloading services to oil and gas producers. Pinnacle Midstream is based in Houston, Texas with an additional office in Midland, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-27 Inkia Energy

Lima, Peru

Inkia Energy provides power generation, transmission, and distribution across Central and Latin America. Inkia Energy is based in Lima, Peru

Buy -

Seller Profile 1

SELLER

I.C. Power

San Isidro, Peru
Category Company
Founded 2007
Sector Utilities
DESCRIPTION

I.C. Power Ltd. (IC Power) is a fast-growing global power generation company.

Deal Context for Seller #
Overall 1 of 1
Sector: Utilities 1 of 1
Type: Divestiture 1 of 1
Country: Peru 1 of 1
Year: 2017 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-25 Energuate

Guatemala

Energuate is the electricity distribution company.

Buy $289M

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