Stonepeak Mergers and Acquisitions Summary

Infrastructure Profile

In the last 3 years, Stonepeak has acquired 4 companies. It has also invested in 1 other.

Stonepeak’s most common sectors for investment arecommunications (17%) and infrastructure (17%) . The Firm’s most common investment types include stake purchase (26%) and secondary buyout (20%). In total, Stonepeak has invested in 14 US states and 10 different countries. Its largest (disclosed) acquisition occurred in 2020 when it acquired Astound Broadband for $8.1B.

In the last 3 years, Stonepeak has exited 1 company. The Firm’s most common exit type is secondary buyout (50%). Stonepeak’s largest (disclosed) exit occurred in 2015 when it sold Casper Crude to Rail for $225M.

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M&A Summary

  • M&A Total Activity39
    • M&A Buy Activity31
    • M&A Sell Activity8
  • Total Sectors Invested 13
  • Total Countries Invested 10
  • M&A Buy/Sell Connections 15
  • M&A Advisors 9

Stonepeak

55 Hudson Yards 550 W 34th Street, 48th Floor,
New York, New York 10001
United States
(212) 907-5100
www.stonepeak.com

Stonepeak is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stonepeak was formed in 2011 and is headquartered in New York City.


Investment Criteria

Sectors of Interest: Communications, Information Technology, Infrastructure, Transportation, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (2.0/yr) # 21 5 5 - - - 31
vol $12.2B $8.9B $2.4B $23.5B
Sell (0.8/yr) # 4 3 1 - - - 8
vol $225M $225M
  39

Most Recent M&A

Company Date Value Type
Madison Energy Investments LLC 2022-12-20 - Secondary Buyout
New York, New York · www.madisonei.com
GeelongPort Pty Ltd. 2022-11-20 - Buyout (LBO, MBO, MBI)
North Geelong, Australia · www.geelongport.com.au
Intrado - Safety Business 2022-09-16 2.4B USD Divestiture
Omaha, Nebraska
American Tower’s Data Center Business 2022-08-01 - Divestiture
Boston, Massachusetts
Inspired Education Holdings Ltd. 2022-05-03 - Growth Capital
London, United Kingdom · www.Inspirededu.com
Rinchem Company, Inc. 2022-01-06 - Buyout (LBO, MBO, MBI)
Albuquerque, New Mexico · www.rinchem.com
Seapeak Maritime Limited 2021-10-04 6.2B USD Going Private
Hamilton, Bermuda · www.seapeak.com
West Texas Gas, Inc. 2021-09-01 - Stake Purchase
Midland, Texas · www.westtexasgas.com
Emergent Cold LatAm Management LLC 2021-08-25 - Growth Capital
Miami, Florida · www.emergentcoldlatam.com
Vertical Bridge Holdings LLC 2021-08-10 - Secondary Buyout
Boca Raton, Florida · www.verticalbridge.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Lineage Logistics Holdings LLC 2012-04-18 VersaCold Logistics Services 2022-04-13 44
Novi, Michigan · www.lineagelogistics.com Vaughan, Ontario · www.versacold.com
Lineage Logistics Holdings LLC 2012-04-18 H&S Coldstores 2022-01-11 43
Novi, Michigan · www.lineagelogistics.com Barneveld, Netherlands
Astound Broadband 2020-11-01 WideOpenWest, Inc. - Chicago, Evansville & Anne Arundel Service Areas 2021-06-30 3
Princeton, New Jersey · www.astound.com Englewood, Colorado
Lineage Logistics Holdings LLC 2012-04-18 Claus Sørensen - Cold Storage Division 2021-06-15 42
Novi, Michigan · www.lineagelogistics.com Esbjerg, Denmark
Lineage Logistics Holdings LLC 2012-04-18 UTI Forwarding B.V. 2021-04-26 41
Novi, Michigan · www.lineagelogistics.com Rotterdam, Netherlands · www.uti.nl
euNetworks Group Ltd. 2017-11-06 The Loop Manchester Ltd. 2020-12-31 2
London, United Kingdom · www.eunetworks.com Manchester, United Kingdom · www.theloopmanchester.co.uk
Lineage Logistics Holdings LLC 2012-04-18 Pago Sp. z o.o. 2020-12-01 40
Novi, Michigan · www.lineagelogistics.com Grodzisk Wielkopolski, Poland · www.pago.net.pl
Astound Broadband 2020-11-01 Grande Communications Networks LLC 2020-11-01 2
Princeton, New Jersey · www.astound.com San Marcos, Texas · www.mygrande.com
Xplornet Communications, Inc. 2020-02-27 Corridor Communications, Inc. 2020-10-01 3
Woodstock, New Brunswick · www.xplornet.com Calgary, Alberta · www.cciwireless.ca
Cologix, Inc. 2017-02-02 vXchnge Operating LLC - Minneapolis Data Center 2020-08-20 3
Denver, Colorado · www.cologix.com Minneapolis, Minnesota

M&A by Sector

Sector Current # Value All-time # Value
Communications 5 (22%) 11.3B (48%) 5 (16%) 11.3B (48%)
Infrastructure 3 (13%) - 5 (16%) -
Transportation 4 (17%) 6.2B (26%) 4 (13%) 6.2B (26%)
Information Technology 4 (17%) - 4 (13%) -
Energy Services and Equipment - - 3 (10%) -
Renewable Energy 2 (9%) - 3 (10%) -
Oil/Gas Exploration 1 (4%) 3.6B (15%) 1 (3%) 3.6B (15%)
Safety/Security 1 (4%) 2.4B (10%) 1 (3%) 2.4B (10%)
Construction - - 1 (3%) -
Education 1 (4%) - 1 (3%) -
Healthcare Services 1 (4%) - 1 (3%) -
Real Estate 1 (4%) - 1 (3%) -
Utilities - - 1 (3%) -
Total 23 $23.5B 31 $23.5B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (57%) 14.1B (60%) 20 (65%) 14.1B (60%)
  Texas 2 (9%) 3.6B (15%) 3 (10%) 3.6B (15%)
  Florida 2 (9%) - 3 (10%) -
  New Jersey 2 (9%) 8.1B (34%) 2 (6%) 8.1B (34%)
  Illinois 1 (4%) - 2 (6%) -
  Nebraska 1 (4%) 2.4B (10%) 1 (3%) 2.4B (10%)
  Virginia 1 (4%) - 1 (3%) -
  New Mexico 1 (4%) - 1 (3%) -
  Michigan 1 (4%) - 1 (3%) -
  Massachusetts 1 (4%) - 1 (3%) -
  Colorado 1 (4%) - 1 (3%) -
  Wyoming - - 1 (3%) -
  Washington - - 1 (3%) -
  New York - - 1 (3%) -
  California - - 1 (3%) -
United Kingdom 2 (9%) - 2 (6%) -
Bermuda 1 (4%) 6.2B (26%) 2 (6%) 6.2B (26%)
Brazil 1 (4%) 2.7B (11%) 1 (3%) 2.7B (11%)
Netherlands 1 (4%) 550M (2%) 1 (3%) 550M (2%)
Canada 1 (4%) - 1 (3%) -
  New Brunswick 1 (4%) - 1 (3%) -
Australia 1 (4%) - 1 (3%) -
Japan 1 (4%) - 1 (3%) -
Singapore 1 (4%) - 1 (3%) -
Taiwan 1 (4%) - 1 (3%) -
Total 23 $23.5B 31 $23.5B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Stake Purchase 5 (22%) - 8 (26%) -
Secondary Buyout 5 (22%) 11.7B (50%) 6 (19%) 11.7B (50%)
Buyout (LBO, MBO, MBI) 4 (17%) 550M (2%) 4 (13%) 550M (2%)
Growth Capital 2 (9%) - 4 (13%) -
Divestiture 3 (13%) 5.1B (22%) 3 (10%) 5.1B (22%)
Consolidation 2 (9%) - 2 (6%) -
Joint Venture - - 2 (6%) -
Going Private 1 (4%) 6.2B (26%) 1 (3%) 6.2B (26%)
Recapitalization 1 (4%) - 1 (3%) -
Total 23 $23.5B 31 $23.5B

Exits by Deal Type

Type Total # Value
Secondary Sale 4 (50%) -
Stake Sale 2 (25%) -
Trade Sale - Public Company 1 (13%) 225M (100%)
Divestiture 1 (13%) -
Total 8 $225M

Top M&A Advisors

Financial Deals
Evercore Group LLC
 1
J.P. Morgan Securities
 1
DNB Markets
 1
Legal Deals
Simpson Thacher & Bartlett
 6
Sidley Austin LLP
 2
Conyers Dill & Pearman
 1

Deal Values

buy # Total
> $1B 5 $23.0B
$100M to $1B 1 $550M
TOTAL $23.5B
Largest Astound Broadband
$8.1B (2020-11-01)
sell # Total
$100M to $1B 1 $225M
TOTAL $225M
Largest Casper Crude to Rail LLC
$225M (2015-10-12)

M&A Connections

Deals
Acquired from
Investor(s)
19%
6 (19%)
Strategic(s)
10%
3 (10%)
Exited to
Investor(s)
63%
5 (63%)
Strategic(s)
38%
3 (38%)

Investor Summary

Investor Type

Infrastructure

Size

Mega

PE Assets

48.5B USD

Established

2011

Specialist/Generalist

Specialist

Leadership

Michael Dorrell

Chairman, CEO & Co-Founder

Brenden Woods

Senior Managing Director

Darren Keogh

Senior Managing Director

Nikolaus Woloszczuk

Senior Managing Director

Jack Howell

Senior Managing Director & Co-Head Americas

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