M&A Deal Summary

Riverstone Holdings Acquires Raven Power

On December 3, 2012, private equity firm Riverstone Holdings acquired renewable energy company Raven Power

Acquisition Highlights
  • This is Riverstone Holdings’ 14th transaction in the Renewable Energy sector.
  • This is Riverstone Holdings’ 62nd transaction in the United States.
  • This is Riverstone Holdings’ 3rd transaction in Maryland.

M&A Deal Summary
Date 2012-12-03
Target Raven Power
Sector Renewable Energy
Buyer(s) Riverstone Holdings
Deal Type Buyout (LBO, MBO, MBI)

Target

Raven Power

Maryland, United States
Raven Power is a private independent power company that consists of three, primarily coal-fired, power generation facilities. The portfolio is located in Maryland and has a generating capacity of 2,648 MW. Raven is managed by the Topaz Power Group.

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Buyer(S) 1

Buyer

Riverstone Holdings

New York, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 40.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Riverstone Holdings is a large specialist asset management and private equity firm focused on opportunities in the energy and power industry. Specific areas of interest include oil & gas exploration, midstream transportation/logistics, electric generation, energy & power service, power infrastructure, and energy & power technology. Riverstone Holdings was formed in 2000 and is based in New York, New York.

DEAL STATS #
Overall 84 of 106
Sector (Renewable Energy) 14 of 15
Type (Buyout (LBO, MBO, MBI)) 47 of 52
State (Maryland) 3 of 3
Country (United States) 62 of 78
Year (2012) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-09-27 Kerogen Energy

Houston, Texas, United States

Kerogen Energy through its operating companies, Houston-based Kerogen Exploration LLC and Calgary-based BlackShale Resources Inc., is focused on shale oil exploration in the U.S. and Canada. Central to the Company's business plan is integrating proven source rock evaluation techniques with the latest drilling and completion technologies to identify and develop quality shale oil opportunities. Kerogen Energy was formed in 2012 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-01-01 Davenport Power

Stamford, Connecticut, United States

Davenport Power, LLC is the Operator of the Newberry Geothermal Project. Davenport Power was formed in 1997 as an independent electric power company to own and operate clean power and renewable energy projects. The company specializes in developing early stage geothermal opportunities that sell power to utilities under long-term contracts.

Sell -
Mergr

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