M&A Deal Summary

LS Power Development Acquires Hunterstown Power

On January 16, 2024, LS Power Development acquired utilities company Hunterstown Power from Platinum Equity

Acquisition Highlights
  • This is LS Power Development’s 2nd transaction in the Utilities sector.
  • This is LS Power Development’s 10th transaction in the United States.
  • This is LS Power Development’s 3rd transaction in Pennsylvania.

M&A Deal Summary

Date 2024-01-16
Target Hunterstown Power
Sector Utilities
Buyer(s) LS Power Development
Sellers(s) Platinum Equity
Deal Type Add-on Acquisition

Target

Hunterstown Power

Gettysburg, Pennsylvania, United States
Hunterstown Power is a combined-cycle gas turbine generating power plant that provides 810 MW to the PJM (Met-Ed) 500kV grid, with enough to supply more than 648,000 homes. Hunterstown Power is based in Gettysburg, Pennsylvania.

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Buyer(S) 1

Buyer

LS Power Development

New York,, New York, United States

Category Company
Founded 1990
Sector Renewable Energy
DESCRIPTION

LS Power is an employee-owned, independent power company.We are a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States.We have developed, constructed, managed or acquired more than 32,000 MW of competitive power generation and 470 miles of transmission infrastructure.


DEAL STATS #
Overall 10 of 11
Sector (Utilities) 2 of 3
Type (Add-on Acquisition) 6 of 6
State (Pennsylvania) 3 of 3
Country (United States) 10 of 10
Year (2024) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-23 Natural Gas Power Plant

New York, New York, United States

Natural Gas Power Plant owns and operates 835-megawatt facility consists of five simple cycle "peaking" units located in the PJM Interconnection. Natural Gas Power Plant is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-09 Algonquin - Renewable Energy Business

Oakville, Ontario, Canada

Algonquin's Renewable Energy Business is comprised largely of wind and solar assets located throughout the United States and Canada, including 44 operating assets with more than 3,000 megawatts (MW) of generating capacity and an 8,000 MW pipeline of wind, solar, battery energy storage and renewable natural gas projects in various stages of development. Algonquin's Renewable Energy Business is based in Oakville, Ontario.

Buy -

Seller(S) 1

SELLER

Platinum Equity

Beverly Hills, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1995
PE ASSETS 48.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Platinum Equity's headquarters in Beverly Hills, California.
Platinum Equity's headquarters in Beverly Hills, California.

Platinum Equity is a private equity firm focused on acquiring divestitures of larger public companies primarily in North America and Europe. Historically, Platinum targeted technology/software related businesses, however, the firm has since branched out beyond tech and will consider acquisitions in a broad range of industries including chemicals, communications, logistics, healthcare, automotive, industrial products, and business services. Platinum Equity was formed in 1995 by Tom Gores and is based in Beverly Hills, California.


DEAL STATS #
Overall 76 of 78
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 38 of 39
State (Pennsylvania) 6 of 6
Country (United States) 63 of 65
Year (2024) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 E&A Scheer

Amsterdam, Netherlands

E&A Scheer is a global blender and vendor of premium rum in bulk. E&A Scheer is based in Amsterdam, Netherlands.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-04 Yak Access

Columbia, Mississippi, United States

Yak Access provides temporary roadway solutions to remote construction sites, primarily serving the oil and gas pipeline and powerline sectors in the United States. The company comprises three related businesses – Yak Mat, New South Access and Environmental Solutions, and BluRoc – offering a full suite of solutions, including hardwood mats, temporary and permanent access roads, site evaluation, design and installation of access plans, and mat removal. Yak Access was founded in 2016 and is based in Columbia, Maryland.

Sell $1.1B