M&A Deal Summary

Tenaska Capital Management Acquires US Power Generating Co.

On December 6, 2013, private equity firm Tenaska Capital Management acquired energy services and equipment company US Power Generating Co.

Acquisition Highlights
  • This is Tenaska Capital Management’s 13th transaction in the Energy Services and Equipment sector.
  • This is Tenaska Capital Management’s 22nd transaction in the United States.
  • This is Tenaska Capital Management’s 1st transaction in Connecticut.

M&A Deal Summary

Date 2013-12-06
Target US Power Generating Co.
Sector Energy Services and Equipment
Buyer(s) Tenaska Capital Management
Deal Type Special Situations/Distressed
Advisor(s) Morgan Stanley (Financial)
Latham & Watkins (Legal)

Target

US Power Generating Co.

Stamford, Connecticut, United States
USPowerGen consists of three gas- and oil-fired electric power generating facilities with an aggregate summer net rating of 2,098 MW. The three facilities are located in New York City and are critical to the city's safety and electrical reliability.

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Buyer(S) 1

Buyer

Tenaska Capital Management

Omaha, Nebraska, United States

Category Private Equity Firm
Founded 2003
PE ASSETS 3.2B USD
Size Large
Type Sector Focused
DESCRIPTION

Tenaska Capital Management (TCM) is the private equity affiliate of integrated energy company Tenaska. TCM was formed to leverage Tenaska's sector expertise to pursue opportunities for investment in the North American energy sector. Specific areas of interest include power generating plants; national providers of transmission and pipeline construction and maintenance services; and natural gas storage facilities. Tenaska Capital Management is based in Omaha, Nebraska.


DEAL STATS #
Overall 22 of 22
Sector: Energy Services and Equipment M&A 13 of 13
Type: Special Situations/Distressed M&A Deals 1 of 1
State: Connecticut M&A 1 of 1
Country: United States M&A 22 of 22
Year: 2013 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-01 Azure Midstream

Katy, Texas, United States

Azure Midstream is a multi-service midstream company focused on operating and expanding its strategically positioned natural gas gathering, transportation, and treating assets in East Texas. Azure Midstream was founded in 2012 and is based in Katy, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Crete Energy Venture

Crete, Illinois, United States

Crete Energy Venture LLC is a simple-cycle plant provides electric generating capacity to the PJM Interconnection market during periods of peak demand.

Sell -