Professional M&A intelligence for the energy transition
Brookfield Renewable completed its $2.8 billion acquisition of Duke Energy Renewables in October 2023. The deal added 3.4 GW of operating wind, solar, and battery storage capacity, with an additional 6.1 GW in development across the U.S.
Vertex Energy completed its $75 million acquisition of Shell's Mobile, Alabama refinery. The 91,000 barrel-per-day Mobile refinery is strategically located on the U.S. Gulf Coast and is capable of sourcing a flexible mix of cost-advantaged light-sweet domestic and international feedstocks.
American Electric Power (Nasdaq: AEP) sold its distributed resources business, AEP OnSite Partners, to funds advised by Basalt Infrastructure Partners. AEP OnSite Partners owns, operates and maintains behind-the-meter assets and distributed energy resources and sells the output to schools, municipalities, hospitals and other commercial and industrial customers. Their portfolio consists of more than 300 MW […]
Marathon Petroleum completed its $21 billion divestiture of Speedway convenience store and fuel retail business to 7-Eleven, a subsidiary of Japan's Seven & i Holdings Co., Ltd. (3382: Tokyo). The deal made 7-Eleven the largest U.S. convenience retailer.
An Invenergy-led consortium with CDPQ acquired American Electric Power's unregulated renewables business in 2023, including 1,365 MW of operating wind and solar capacity across multiple states.
EG Group acquired Cumberland Farms for $2.15 billion in October 2019. The deal added 567 stores across eight U.S. Northeast states to EG's portfolio.
Engie completed its $1.6 billion acquisition of Houston-based battery storage developer Broad Reach Power from EnCap Energy Transition in August 2023. The deal added 350 MW of operating battery storage and a 2.7 GW pipeline.
Kinetik Holdings completed its $765 million acquisition of Durango Permian from Morgan Stanley Energy Partners in June 2024. The deal added natural gas gathering, processing, and CO2 sequestration assets in the New Mexico Delaware Basin.
Enterprise Products Partners LP (NYSE: EPD) acquired Piñon Midstream, formerly a portfolio company of Black Bay Energy Capital, for $950 million in cash. The acquired assets, which include natural gas gathering and treating services, expand Enterprise's footprint in the eastern flank of the prolific Delaware Basin of Texas and New Mexico.
Enterprise Products Partners completed its $3.25 billion cash acquisition of Warburg Pincus-backed Navitas Midstream Partners in February 2022. The deal added 1,750 miles of pipelines and processing capacity in the Midland Basin of the Permian.