M&A Deal Summary

Vicinity Energy Acquires Morgantown Energy Associates

On July 7, 2020, Vicinity Energy acquired utilities company Morgantown Energy Associates from Lotus Infrastructure Partners

Acquisition Highlights
  • This is Vicinity Energy’s 1st transaction in the Utilities sector.
  • This is Vicinity Energy’s 1st transaction in the United States.
  • This is Vicinity Energy’s 1st transaction in Pennsylvania.

M&A Deal Summary
Date 2020-07-07
Target Morgantown Energy Associates
Sector Utilities
Buyer(s) Vicinity Energy
Sellers(s) Lotus Infrastructure Partners
Deal Type Add-on Acquisition

Target

Morgantown Energy Associates

Monongahela, Pennsylvania, United States
Morgantown Energy Associates is located on the banks of the Monongahela River, the system was constructed and began servicing WVU in 1992, historically burning coal as its primary fuel supply to distribute steam through a 2.25-mile underground distribution system.

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Buyer(S) 1

Buyer

Vicinity Energy

Boston, Massachusetts, United States
Category Company
Sector Utilities
DESCRIPTION

Vicinity Energy is an alternative, owning and operating some of the most efficient large generators within their respective energy grids and, through its ownership and operation of over 400 megawatts (MW) of combined heat and power (CHP) production, currently supplies district energy and related services to more than 210 million square feet of building space. Vicinity Energy is based in Boston, Massachusetts.

DEAL STATS #
Overall 1 of 1
Sector (Utilities) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Pennsylvania) 1 of 1
Country (United States) 1 of 1
Year (2020) 1 of 1

Seller(S) 1

SELLER

Lotus Infrastructure Partners

Greenwich, Connecticut, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2005
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Starwood Energy Group, an affiliate of Starwood Capital Group, is a private equity firm that targets investments in energy infrastructure assets. Starwood Energy looks to invest in hard assets with strong contracted cash-flow. This includes opportunistic acquisitions as well as development-stage commitments. The Group's target investment size is $50 to $200 million. Starwood Energy was formed in 2005 and is based in Greenwich, Connecticut.

DEAL STATS #
Overall 8 of 9
Sector (Utilities) 6 of 6
Type (Add-on Acquisition) 2 of 2
State (Pennsylvania) 1 of 1
Country (United States) 7 of 8
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-08 Lavaca Midstream

Lavaca County, Texas, United States

Lavaca Midstream provides 260 miles of natural gas gathering pipes and associated infrastructure and provides gathering and artificial gas lift services to local upstream clients focused on oil and gas production in the Eagle Ford.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-29 Stem

San Francisco, California, United States

Stem is a provider of commercial energy storage systems. Stem delivers innovative technology services that transform the way energy is distributed and consumed. Through its AI platform Athena, Stem powers the largest, most reliable network of energy storage systems in the world. Stem was founded in 2009 and is based in San Francisco, California.

Sell -
Mergr

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