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ECP to invest up to $500 mln in Next Wave

Energy Capital Partners has made a commitment to invest up to $500 million in equity funding in Houston-based energy company Next Wave Energy Partners. Next Wave’s senior management joined ECP on the transaction. According to Next Wave, the capital will be used to develop, operate, acquire and expand midstream and downstream petrochemical and fuel assets.

106 Views

Relativity Capital sells MHF to PE-backed EnergySolutions

EnergySolutions LLC, which is backed by Energy Capital Partners, has acquired MHF Services from Relativity Capital. No financial terms were disclosed. Based in Pittsburgh, MHF is a provider of specialized logistical solutions related to the movement of environmentally sensitive materials. Houlihan Lokey served as financial advisor to Relativity Capital and MHF on the transaction.

PE-backed PLH acquires R.B. Hinkle

PLH Group, a portfolio company of Energy Capital Partners, said Tuesday that it has acquired R.B. Hinkle Construction. No financial terms were disclosed. Headquartered in Sterling, Virginia, R.B. Hinkle is a provider of underground utility infrastructure services across the Mid-Atlantic region.

First read Feb 24
744 Views

peHUB First Read

This midweek morning find out how private equity fund terms have evolved, how much private equity funds benefit from debt-related tax shields, Energy Capital Partners closing Fund III and the latest personnel news for Atlas Venture.

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Energy Capital Gears Up For Fund III; To Offer European Waterfall

Energy Capital Partners, which has raised more than $8 billion for investments in the North American energy market, plans to launch its third core fund this year targeting in the neighborhood of $4.3 billion and offering an LP-friendly distribution waterfall, a source close to the fund told sister magazine Buyouts. Expect a formal unveiling as early as this summer.

PLH Forms New Utility Infrastructure Business

PLH Group, a portfolio company of private equity firm Energy Capital Partners, has launched Edison Power Constructors, Inc to deliver infrastructure services in the areas of electric transmission, substation, and distribution. Based in Phoenix, Arizona, Edison’s immediate focus is to expand its capabilities and market position in the Western United States power market.

Oil & Gas Pipeline 2

PE-Backed PLH Group Buys Pipeworx

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.

Texas Teachers’ Pledged $1.1B In Fourth Quarter

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…

Energy Capital Partners’ PLS Acquires GFI cos

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, […]

Plotkin to Replace Azmy at NRG Energy

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 Sells CoaLogix for $101M

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 Buys CoaLogix

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

Carlyle in Talks to Buy Energy Capital Partners

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.

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