Maxim closes $106 mln sale of U.S. subsidiary to Hull Street Energy
Canadian power producer Maxim Power Corp (TSX: MXG) has closed its sale of a 100 percent interest in Maxim Power (USA) Inc to an affiliate of Hull Street Energy, a U.S. private equity firm. The deal, announced in December, reflects an implied enterprise value of about US$106 million. Maxim said it will receive net proceeds of about US$84 million. Based in Calgary, Maxim acquires and develops power and power-related projects. It currently owns and operates two plants in Alberta with 156 megawatts of electric-generating capacity. Hull Street invests in power generation assets and related businesses.
3 April 2017•3 mins read
