M&A Deal Summary

LS Power Equity Advisors Acquires Rolling Hills Generation

On September 16, 2022, infrastructure investor LS Power Equity Advisors acquired utilities company Rolling Hills Generation

Acquisition Highlights
  • This is LS Power Equity Advisors’ 2nd transaction in the Utilities sector.
  • This is LS Power Equity Advisors’ 2nd transaction in the United States.
  • This is LS Power Equity Advisors’ 1st transaction in Ohio.
Investment Fate
  • Rolling Hills Generation was sold to a publicly-traded strategic buyer in 2025.

M&A Deal Summary

Date 2022-09-16
Target Rolling Hills Generation
Sector Utilities
Buyer(s) LS Power Equity Advisors
Deal Type Buyout (LBO, MBO, MBI)

Target

Rolling Hills Generation

Wilkesville, Ohio, United States
Rolling Hills Generating is a simple-cycle plant that provides electric generating capacity to the PJM Interconnection market during periods of peak demand. Rolling Hills Generating was founded in 2003 and is based in Wilkesville, Ohio.

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Buyer(S) 1

Buyer

LS Power Equity Advisors

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2005
PE ASSETS 13.3B USD
Size Mega
Type Sector Focused
DESCRIPTION

LS Power Equity Advisors LLC is the private equity affiliate of LS Power Group, a developer, owner, operator and investor in power generation and electric transmission infrastructure throughout the United States. LS Power Equity Advisors looks to acquire operating power generation assets and utilize its development, operations, power marketing and financial expertise to improve their commercial and physical operations. LS Power Equity Advisors was formed in 2005 and is based in New York City.


DEAL STATS #
Overall 2 of 2
Sector: Utilities M&A 2 of 2
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 2
State: Ohio M&A 1 of 1
Country: United States M&A 2 of 2
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-28 Hummel

Shamokin Dam, Pennsylvania, United States

Hummel is a a 1,124 MW combined cycle flexible generation facility in Shamokin Dam, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-04-14 Rolling Hills Generation

Wilkesville, Ohio, United States

Rolling Hills Generating is a simple-cycle plant that provides electric generating capacity to the PJM Interconnection market during periods of peak demand. Rolling Hills Generating was founded in 2003 and is based in Wilkesville, Ohio.

Sell -