Investment Summary

Stonepeak Exit Tidewater

On February 20, 2019, infrastructure investor Upper Bay Infrastructure Partners and asset manager The Silverfern Group invested in infrastructure company Tidewater from Stonepeak

Investment Highlights
  • This is Upper Bay Infrastructure Partners’ 1st and The Silverfern Group’s 1st transaction in the Infrastructure sector.
  • This is Upper Bay Infrastructure Partners’ 2nd and The Silverfern Group’s 11th transaction in the United States.
  • This is Upper Bay Infrastructure Partners’ 1st and The Silverfern Group’s 1st transaction in Washington.

Investment Summary

Date 2019-02-20
Target Tidewater
Sector Infrastructure
Investor(s) Upper Bay Infrastructure Partners
The Silverfern Group
Sellers(s) Stonepeak
Deal Type Secondary Buyout

Target

Tidewater

Vancouver, Washington, United States
Tidewater is an operator of a multi-commodity transportation and terminal company serving the diverse and evolving transportation needs of the Pacific Northwest. Tidewater is an essential infrastructure provider with high barriers to entry due to permitting, scale requirements, and regulatory barriers. Tidewater was founded in 1932 and is based in Vancouver, Washington.

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Investor(S) 2

Investor
DESCRIPTION

Upper Bay Infrastructure Partners is a private investment firm focused on infrastructure and other real assets throughout North America. Upper Bay targets both mature, stable assets and growth-oriented infrastructure investments in partnership with operators and developers. Specific areas of interest include transportation, power & utilities, midstream, and telecommunications. Upper Bay Infrastructure Partners was established in 2018 and is based in New York City.


DEAL STATS #
Overall 2 of 3
Sector: Infrastructure M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Washington M&A 1 of 1
Country: United States M&A 2 of 3
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-11 Avantus

Los Angeles, California, United States

Avantus is a developer of solar PV and storage projects. The company supports solar and energy storage development throughout the project lifecycle from selecting a project site through operations and owns a large project pipeline of 30 GWp of solar and 94 GWh of battery storage, enough to provide 20 million people with clean, reliable power. Avantus was founded in 2009 and is based in Los Angeles, California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-07 Infiniti Energy

Howell, New Jersey, United States

Infiniti Energy is an innovative, full-service solar power developer. The company specializes in the development and acquisition of commercial and industrial solar assets in both the src and private sector nationwide. Infiniti Energy was founded in 2015 and is based in Howell, New Jersey.

Buy -
DESCRIPTION

The Silverfern Group is an asset management firm focused on investing in private equity, real estate, and private debt transactions on behalf of institutional investors and single family offices. The Firm will consider opportunities across North/South America, Europe, and Asia. Within its private equity practice, Silverfern makes direct, co-control middle-market private equity investments requiring $20 to $50 million of equity per transaction. Sectors of interest include energy, financial services, food, hospitality, IT, power equipment rental, renewable energy, telecom, transportation, and waste management. The Silverfern Group was established in 2001 and is headquartered in Greenwich, Connecticut.


DEAL STATS #
Overall 15 of 22
Sector: Infrastructure M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 6
State: Washington M&A 1 of 2
Country: United States M&A 11 of 16
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-01 IKKS Group

Saint-Macaire-en-Mauges, France

IKKS Group is a provider of premium and affordable luxury apparel pieces for women, children, and men through the IKKS Women, IKKS Junior, IKKS Men, One Step, X and O, and I.Code brand names, offering creative and contemporary collections. IKKS Group was founded in 1986 and is based in Saint-Macaire-en-Mauges, France.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-21 APR Energy

Jacksonville, Florida, United States

APR Energy provides rapidly deployable, large-scale power and fast-track mobile power to underserved markets and industries. APR Energy's mobile, turnkey power plants help run cities, countries, and industries around the world in both developed and developing markets. APR Energy was founded in 2001 and is based in Jacksonville, Florida.

Sell $750M

Seller(S) 1

SELLER

Stonepeak

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2011
PE ASSETS 73.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stonepeak is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stonepeak was formed in 2011 and is headquartered in New York City.


DEAL STATS #
Overall 3 of 10
Sector: Infrastructure M&A 1 of 2
Type: Secondary Buyout M&A Deals 2 of 4
State: Washington M&A 1 of 1
Country: United States M&A 3 of 9
Year: 2019 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 Paradigm Energy Partners

Dallas, Texas, United States

Paradigm Energy Partners is focused on developing, constructing, and operating midstream assets in the Bakken Shale in North Dakota and the Eagle Ford in South Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-25 Ifco

Tampa, Florida, United States

Ifco is a provider of reusable packaging solutions for fresh foods, serving customers in 50+ countries. The company operates a pool of over 380 million Reusable Packaging Containers (RPCs) globally, which are used for 2 billion shipments of fresh fruits and vegetables, meat, poultry, seafood, eggs, bread, and other items from suppliers to grocery retailers every year. Its RPCs ensure a better fresh food supply chain by protecting freshness and quality and lowering costs, food waste, and environmental impact compared to single-use packaging. Ifco is based in Tampa, Germany.

Buy -