Private Equity
Mubadala Investment Company has agreed to provide $50 million to NextDecade Corporation in a private placement. According to terms of the deal, NextDecade will issue common stock to Mubadala at a price of $6.27 per share. Houston-based NextDecade Corporation is a liquefied natural gas development company.
3 min read · 24 October 2019
Rock Hill Capital Group said Oct. 23 that its portfolio company, Core International LLC, has merged with Javelina Oilfield Inc. Financial terms weren’t announced. Core, of Houston, supplies engineered rubber components and supply chain solutions to a variety of industrial end-users while Javelina distributes engineered rubber and metal components to the oil and gas market.
2 min read · 23 October 2019
Ares Management Corp said Oct. 22 that agreed to sell a 22.5 percent stake in Meade Pipeline Co LLC to NextEra Energy Partners LP for about $286 million. Meade owns about 39 percent of Central Penn Line, an 185-mile pipeline that originates in Susquehanna County, Pennsylvania, and extends to Lancaster County, Pennsylvania.
3 min read · 22 October 2019
PSP Investments and Alberta Teachers' Retirement Fund Board have agreed to acquire AltaGas Canada Inc, a Calgary-based energy infrastructure company. The purchase price is C$1.7 billion. TD Securities Inc is providing financial advice to AltaGas on the deal with Stikeman Elliott LLP providing legal advice. And, National Bank Financial and Citi are serving as co-lead financial advisers to PSP and ATRF while Blake, Cassels & Graydon LLP is providing legal advice.
6 min read · 21 October 2019
Carlyle Group has dropped out as a stakeholder of Lone Star Ports LLC, Reuters reported Oct. 18. Berry Group is now the sole owner of Lone Star, which proposed a $1 billion crude oil export terminal near Corpus Christi, Texas, the story said.
1 min read · 21 October 2019
Durham, North Carolina-based Leyline Renewable Capital, a provider of development financing across several renewable energy sectors, has secured $150 million in funding. The investor was Newlight Partners LP.
4 min read · 17 October 2019
Cathartes sold its stake in Westford Solar to Goldman Sachs Renewable Power. Financial terms weren’t announced. Westford Solar, of Middlesex County, Massachusetts, supplies power to a financial institution as well as two large universities in Massachusetts. Karbone Capital Markets advised Cathartes.
3 min read · 17 October 2019
The Carlyle Group has acquired a 37 percent stake in Cepsa, a Spanish oil and gas company. No financial terms were disclosed. Mubadala Investment Company, an Abu Dhabi state investor, will remain the majority shareholder in Cepsa.
5 min read · 15 October 2019
Pattern Energy, which is backed by Riverstone Holdings, has agreed to acquire two operating wind power facilities: the Henvey Inlet Wind facility in Ontario and the Grady Wind Facility in New Mexico. The purchase price is US$293 million. In addition to the acquisitions, Toronto-based investment firm CBRE Caledon has agreed to invest US$260 million in the San Francisco-based Pattern Energy Group, a renewable energy company. A number of institutional co-investors are also participating in the transaction alongside CBRE Caledon. Pattern will use the capital for general corporate purposes and buying certain operational renewable energy projects developed by Pattern Development. Pattern Energy is listed on the NASDAQ and the Toronto Stock Exchange.
6 min read · 11 October 2019
Ontario Power Generation has closed its previously announced buyout of Cube Hydro Partners, a Bethesda, Maryland-based operator of small and medium-sized hydropower facilities in the northeast and southeast U.S. The seller was I Squared Capital. No financial terms were disclosed; however, a previous news item on this transaction pegged the value of the deal at $1.48 billion. Goldman Sachs was financial adviser to OPG on the transaction while Centerview Partners did likewise for I Squared Capital.
3 min read · 08 October 2019
