| Date | Target |
Transaction Type Value: $mlns |
Acquirer | Seller | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 2025-01-10 |
Calpine
Utilities Houston, Texas www.calpine.com Calpine is a generator of electricity from natural gas and geothermal resources with operations in competitive power markets. Calpine was founded in 1984 and is based in Houston, Texas. Advisors: Latham & Watkins , Goldman Sachs , Barclays Investment Bank , Evercore Group , Morgan Stanley |
Add-on Acquisition
|
Constellation Energy
|
ECP
CPP Investments
Access Industries, Inc.
|
||||||
| Deal Article Deal Link | ||||||||||
| 2025-05-19 |
TXNM Energy
Utilities Albuquerque, New Mexico www.txnmenergy.com TXNM Energy is an energy holding company that serves electricity to more than 730,000 homes and businesses in New Mexico and Texas. TXNM Energy was founded in 1882 and is based in Albuquerque, New Mexico.
|
Going Private
|
The Blackstone Group
|
- | ||||||
| Deal Article Deal Link | ||||||||||
| 2025-10-21 |
CenterPoint Energy's Ohio natural gas utility business
Utilities Ohio CenterPoint Energy's Ohio natural gas utility business provides regulated natural gas distribution services and is based in Ohio. |
Divestiture
|
National Fuel
|
CenterPoint Energy
|
||||||
| Deal Article Deal Link | ||||||||||
| 2025-07-08 |
Quadvest
Utilities Magnolia, Texas www.quadvest.com Quadvest is a family-owned and operated water and wastewater utility company serving residential and commercial customers throughout the Greater Houston area. Quadvest is based in Magnolia, Texas. Advisors: Gregg Law , Baker & McKenzie , Newport |
Add-on Acquisition
|
Texas Water Company
|
- | ||||||
| Deal Article Deal Link | ||||||||||
| 2025-10-30 |
Taqa Neyveli Power
Utilities Cuddalore, India Taqa Neyveli Power operates a 250 MW lignite‑based power plant in Neyveli, supplies electricity to the Tamil Nadu state grid, and other customers. Taqa Neyveli Power is based in Cuddalore, India. |
Divestiture
|
Meil
|
TAQA Group
|
||||||
| Deal Article Deal Link | ||||||||||
| 2025-04-01 |
Maine Natural Gas
Utilities Brunswick, Maine www.mainenaturalgas.com Maine Natural Gas is a natural-gas distribution utility that serves residential and commercial customers across central and mid-coast Maine. Maine Natural Gas was founded in 1999 and is based in Brunswick, Maine. |
Divestiture
|
Unitil
|
Avangrid
|
||||||
| Deal Article Deal Link | ||||||||||
| 2025-07-31 |
Certrec
Utilities Fort Worth, Texas www.certrec.com Certrec is an energy regulatory compliance SaaS and services provider with more than 1,500 cumulative years of engineering and audit experience with the Nuclear Regulatory Commission (NRC), the Federal Energy Regulatory Commission (FERC), the North American Electric Reliability Corporation (NERC), and other regulatory compliance agencies. Certrec was formed in 1988 and is headquartered in Fort Worth, Texas. |
Add-on Acquisition
|
Mirion
|
- | ||||||
| Deal Article Deal Link | ||||||||||
| 2025-04-14 |
Rolling Hills Generation
Utilities Wilkesville, Ohio 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. |
Divestiture |
Capital Power
|
LS Power Equity Advisors
|
||||||
| Deal Article Deal Link | ||||||||||
| 2025-07-08 |
Red Oak Power
Utilities Sayreville, New Jersey www.redoakpower.com Red Oak Power provides vintage combined cycle gas turbine facility that uses proven low heat rate siemens 501F technology, which has a long track record of reliability in power plants across the U.S. Red Oak Power is based in Sayreville, New Jersey. |
Secondary Buyout |
SVP Global
|
Morgan Stanley Infrastructure Partners
|
||||||
| Deal Article Deal Link | ||||||||||
| 2025-05-22 |
Seven Seas Water
Utilities Tampa, Florida www.sevenseaswater.com Seven Seas Water offers Water-as-a-Service(WaaS) solutions by providing outsourced water treatment and wastewater treatment and reuse solutions for governmental, municipal, industrial, property developer and hospitality customers. Seven Seas Water was founded in 1996 and is based in Tampa, Florida. |
Secondary Buyout |
EQT
|
Morgan Stanley Infrastructure Partners
|
||||||
| Deal Article Deal Link | ||||||||||
| 2025-01-27 |
Rokstad Power
Utilities Coquitlam, British Columbia www.rokpowerutilities.com Rokstad Power offers a full suite of power line services, including emergency and storm response, transmission and distribution line construction and maintenance, and underground cable services. Rokstad is also a specialist in live line construction methods for distribution and transmission line projects with operations throughout Canada and the United States. Rokstad Power was founded in 2008 and is based in Coquitlam, British Columbia. |
Secondary Buyout |
Stellex Capital Management
|
Crown Capital Partners, Inc.
|
||||||
| Deal Article Deal Link | ||||||||||
| 2025-06-18 |
USG Water Solutions
Utilities Atlanta, Georgia www.usgwater.com USG Water Solutions is a provider of water asset management services for small and medium public water utilities in North America. USG’s offerings include maintenance services for water storage tanks, pipe networks, and concrete structures in water and wastewater plants. USG Water Solutions is based in Atlanta, Georgia. |
Recapitalization |
Turnspire Capital Partners
|
Turnspire Capital Partners
Backcast Partners
|
||||||
| Deal Article Deal Link | ||||||||||
| 2025-02-20 |
Iren Acqua
Utilities Reggio Emilia , Italy www.gruppoiren.it Iren Acqua manages the integrated water service for around 40 municipalities in the Genoa area, supplying water to approximately 760,000 inhabitants. Iren Acqua was founded in 1905 and is based in Reggio Emilia, Italy. |
Stake Purchase |
IRETI
|
F2i SGR
|
||||||
| Deal Article Deal Link | ||||||||||
| 2025-04-03 |
Aquatech
Utilities Canonsburg, Pennsylvania www.aquatech.com Aquatech is a provider of industrial and infrastructure water treatment solutions and services. Aquatech enables the most recognized companies to solve complex challenges in water reuse, desalination, minimal and zero liquid discharge, and critical minerals processing. Aquatech was founded in 1981 and is based in Canonsburg, Pennsylvania. Advisors: Saul Ewing , Cooley |
Growth Capital |
Cerberus Capital Management
|
- | ||||||
| Deal Article Deal Link | ||||||||||
| 2025-08-19 |
Bass Lake Water
Utilities Bass Lake, California www.basslakewatercompany.com Bass Lake Water is a provider of the water utility to the north and northwest shores of Bass Lake in Madera County. Bass Lake Water was founded in 1959 and is based in Bass Lake, California. |
Add-on Acquisition |
California American Water Co.
|
- | ||||||
| Deal Article Deal Link | ||||||||||
| 2025-12-17 |
Allgas
Utilities Brisbane, Australia www.allgas.com.au Allgas is a natural gas distribution company that owns and operates a network supplying natural gas to residential, commercial, and industrial customers. Allgas is based in Brisbane, Australia. |
Divestiture |
Stonepeak
|
APA
|
||||||
| Deal Article Deal Link | ||||||||||
| Avg |
$5,930
13.1x EBITDA 5.8x REVENUE |
|||||||||
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