PLH Group Inc., which is backed by U.S. private equity firm Energy Capital Partners, has acquired Pipeworx Ltd. and its subsidiaries. Financial terms of the transaction were not announced. The Acheson, Alberta-based Pipeworx, founded in 2004, delivers infrastructure services to the oil and gas industry across the Western Canadian Sedimentary Basin.
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The giant Texas Teachers’ Retirement System committed more than $1.1 billion to private equity across seven investments in the fourth quarter, with some pledges going to long-time partners and some to new relationships…
Power Line Services, a portfolio company of private equity firm Energy Capital Partners, has acquired Snelson and IPS Engineering from GFI Energy Group and other shareholders. Headquartered in Sedro-Woolley, Washington, Snelson builds and provides maintenance services for pipelines and related facilities and infrastructure in the oil and gas industry. IPS Engineering is headquartered in Tulsa, [...]
Nahla Azmy has left NRG Energy to become become MD-Investor Relations for Energy Capital Partners. Chad Plotkin, who has been with NRG Energy since 2007, will replace Azmy. He will be VP of Investor Relations at NRG.
Acorn Energy, the listed, Delaware-based energy technology company, will sell its CoaLogix Inc. to private equity firm Energy Capital Partners, a PE firm focused on energy infrastructure. Acorn initially developed the company with an investment from EnerTech Capital Partners and CoaLogix executives in 2007, when it bought SCR-Tech LLC. Merriman Capital, Inc. advised Acorn Energy in connection with the transaction.
Energy Capital Partners is buying CoaLogix Inc. from publicly traded Acorn Energy for $101 million. Acorn Energy currently owns approximately 65% of CoaLogix on a fully diluted basis, with the balance held by EnerTech Capital and CoaLogix management, the firm said in a release. CoaLogix is a provider of SCR catalyst and regeneration technologies, which reduce NOx for coal-fired electric utility power plants. Acorn created CoaLogix in November 2007.
Top 10 Blog Posts this Week focus on CalPERS CIO’s Comp, How Avalon Got into the Zynga Deal and a Bunch of Early Stage Funds Being Raised
Want to catch up on the blog posts that your peers found most interesting on peHUB this week? Here are the top 10 posts written by peHUB and Reuters staffers that garnered the most pageviews from regular readers from July 4 to July 8. Hot topics included CalPERS’s Chief Investment Officer Joe Dear’s compensation, how little-known Avalon Ventures got into the Zynga deal, a wave of new early stage funds being raised, Silver Spring filing for an IPO and lots more.
1. Dear Joe Dear: What Do You Make at CalPERS?, by Gregory Roth
2. Avalon Ventures: the Low-Flying Firm About to Make a Billion Bucks on Zynga’s IPO, by Connie Loizos
3. Report Finds 127 Early Stage Funds Now Being Raised, by Mark Boslet
4. Solamere Exec Helps Lead Romney Fundraising Effort, by Bernard Vaughan
5. Silver Spring Networks files for IPO of up to $150M, by Reuters
6. Aussie Contact Helps NY Firm Flip Company In One Day, by Bernard Vaughan
7. TALK BACK: What’s Going on in China?, by Jonathan Marino
8. Carlyle in Talks to Buy Energy Capital Partners, by Reuters
9. Fears Of SEC Registration Disappear, But Venture Firms May Face New Record Keeping Demands (subscription required), by Mark Boslet
10. Truly Quick: True Ventures Nears Final Close on $200M Fund, by Jonathan Marino
The Carlyle Group is in talks to buy energy-focused buyout shop Energy Capital Partners, according to the New York Times. Short Hills, New Jersey-based Energy Capital Partners has raised about $7 billion in equity funds. Carlyle has roughly $106.7 billion under management.
The New Energy Capital Cleantech Infrastructure Fund closed a $23.5 million investment in a fuel cell project located on sites owned by the University of California San Diego and the City of San Diego. The project includes three fuel cells totaling 4.5 megawatts of generating capacity. New Energy Capital Cleantech Infrastructure Fund is managed by New Energy Capital Partners of Hanover, N.H.
NEW YORK (Reuters) – Private equity firm Energy Capital said on Monday it has raised $4.3 billion for a fund to focus on investing in fossil and renewable power generation, electric transmission and midstream gas sectors. The firm said that the fund has made several investments — totaling about 20 percent of the fund — [...]