M&A Deal Summary

Iberdrola SA Acquires CPV Wind Ventures

On April 1, 2007, Iberdrola SA acquired renewable energy company CPV Wind Ventures from ArcLight Capital Partners

Acquisition Highlights
  • This is Iberdrola SA’s 1st transaction in the Renewable Energy sector.
  • This is Iberdrola SA’s 1st transaction in the United States.
  • This is Iberdrola SA’s 1st transaction in Massachusetts.

M&A Deal Summary
Date 2007-04-01
Target CPV Wind Ventures
Sector Renewable Energy
Buyer(s) Iberdrola SA
Sellers(s) ArcLight Capital Partners
Deal Type Add-on Acquisition

Target

CPV Wind Ventures

Braintree, Massachusetts, United States
CPV Wind Ventures, LLC was formed by ArcLight and Competitive Power Ventures to develop wind-powered generation facilities in North America. CPV Wind?s business consists of identifying, siting, permitting and contracting wind farm sites.

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Buyer(S) 1

Buyer

Iberdrola SA

Bilbao, Spain
Category Company
Sector Electrical Equipment
DESCRIPTION

Iberdrola is a Spanish private multinational electric utility company based in Bilbao, Basque Country. Iberdrola has a workforce of around 31,330 employees in dozens of countries on four continents serving around 31,67 million customers

DEAL STATS #
Overall 1 of 4
Sector (Renewable Energy) 1 of 2
Type (Add-on Acquisition) 1 of 3
State (Massachusetts) 1 of 1
Country (United States) 1 of 3
Year (2007) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-12-01 Inalta SL

Iberdrola, Spain

Inalta from Iberdrola, Spain’s second largest utility group which distributes electricity and natural gas across the country. The company’s activities include generation, transmission and distribution of electricity; development, operation and maintenance of all types of energy-generating plants, including nuclear power, hydraulic power and thermal power plants; production of renewable energy.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-18 Energy East

New Gloucester, Maine, United States

Energy East Corp. is a utility holding company.

Buy $4.7B

Seller(S) 1

SELLER

ArcLight Capital Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2001
PE ASSETS 25.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

ArcLight Capital Partners is private equity firm that invests in energy assets and businesses. Specific areas of interest include power generation; oil, natural gas, coal extraction and production; midstream gathering, processing, storage and transportation of oil, natural gas, coal; energy transportation; and energy distribution companies. ArcLight's geographic coverage includes opportunities across North America, Western Europe, and Australia/New Zealand. ArcLight was formed in 2001 and has offices in Boston and Luxembourg.

DEAL STATS #
Overall 8 of 28
Sector (Renewable Energy) 1 of 5
Type (Add-on Acquisition) 2 of 9
State (Massachusetts) 2 of 3
Country (United States) 8 of 26
Year (2007) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-03-01 Magellan Power

Piti, Guam, United States

Magellan Power Holdings, LLC owns a 50% interest in Marianas Energy Company. MEC owns an 87 MW diesel-fired power plant located on the island of Guam.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-24 Buckeye Partners

Houston, Texas, United States

Buckeye Partners owns and operates a diversified network of integrated assets providing midstream logistic solutions, primarily consisting of the transportation, storage and marketing of liquid petroleum products. Buckeye Partners was originally established in 1886 and is based in Houston, Texas.

Buy -
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