Stonepeak Mergers and Acquisitions Summary

Infrastructure Profile

In the last 3 years, Stonepeak has acquired 8 companies. It has also invested in 4 others.

Stonepeak’s most common sectors for investment areinfrastructure (17%) and communications (17%) . The Firm’s most common investment types include stake purchase (25%) and secondary buyout (20%). In total, Stonepeak has invested in 14 US states and 12 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 4 companies. 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 Activity44
    • M&A Buy Activity36
    • M&A Sell Activity8
  • Total Sectors Invested 15
  • Total Countries Invested 12
  • M&A Buy/Sell Connections 21
  • M&A Advisors 10

Stonepeak

Stonepeak Partners LP

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 ≤ '19 '20 '21 '22 '23 '24 T
Buy (3.8/yr) # 17 7 5 4 3 - 36
vol $4.1B $13.9B $8.9B $2.4B $8.6B $38.0B
Sell (0.8/yr) # 4 - 3 1 - - 8
vol $225M $225M
  44

Most Recent M&A

Company Date Value Type
Textainer Group Holdings Ltd. 2023-10-22 7.4B USD Going Private
Hamilton, Bermuda · www.textainer.com
Logistec Corp. 2023-10-16 1.2B USD Going Private
Montreal, Quebec · www.logistec.com
Cellnex Nordics 2023-09-29 - Stake Purchase
, Sweden
Madison Energy Investments LLC 2022-12-20 - Secondary Sale
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
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
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 6 (21%) 11.3B (30%) 6 (17%) 11.3B (30%)
Infrastructure 4 (14%) - 6 (17%) -
Transportation 5 (18%) 7.4B (19%) 5 (14%) 7.4B (19%)
Information Technology 4 (14%) - 4 (11%) -
Energy Services and Equipment - - 3 (8%) -
Renewable Energy 2 (7%) - 3 (8%) -
Business Services 1 (4%) 7.4B (19%) 1 (3%) 7.4B (19%)
Insurance 1 (4%) 5.8B (15%) 1 (3%) 5.8B (15%)
Oil/Gas Exploration 1 (4%) 3.6B (9%) 1 (3%) 3.6B (9%)
Safety/Security 1 (4%) 2.4B (6%) 1 (3%) 2.4B (6%)
Construction - - 1 (3%) -
Education 1 (4%) - 1 (3%) -
Healthcare Services 1 (4%) - 1 (3%) -
Real Estate 1 (4%) - 1 (3%) -
Utilities - - 1 (3%) -
Total 28 $38.0B 36 $38.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (46%) 14.1B (37%) 20 (56%) 14.1B (37%)
  Texas 3 (11%) 3.6B (9%) 4 (11%) 3.6B (9%)
  Florida 2 (7%) - 3 (8%) -
  New Jersey 2 (7%) 8.1B (21%) 2 (6%) 8.1B (21%)
  Nebraska 1 (4%) 2.4B (6%) 1 (3%) 2.4B (6%)
  Colorado 1 (4%) - 1 (3%) -
  Virginia 1 (4%) - 1 (3%) -
  New Mexico 1 (4%) - 1 (3%) -
  Michigan 1 (4%) - 1 (3%) -
  Massachusetts 1 (4%) - 1 (3%) -
  California - - 1 (3%) -
  Wyoming - - 1 (3%) -
  Washington - - 1 (3%) -
  New York - - 1 (3%) -
  Illinois - - 1 (3%) -
United Kingdom 3 (11%) 5.8B (15%) 3 (8%) 5.8B (15%)
Bermuda 2 (7%) 13.6B (36%) 3 (8%) 13.6B (36%)
Canada 2 (7%) 1.2B (3%) 2 (6%) 1.2B (3%)
  Quebec 1 (4%) 1.2B (3%) 1 (3%) 1.2B (3%)
  New Brunswick 1 (4%) - 1 (3%) -
Brazil 1 (4%) 2.7B (7%) 1 (3%) 2.7B (7%)
Netherlands 1 (4%) 550M (1%) 1 (3%) 550M (1%)
Australia 1 (4%) - 1 (3%) -
Guam 1 (4%) - 1 (3%) -
Japan 1 (4%) - 1 (3%) -
Singapore 1 (4%) - 1 (3%) -
Sweden 1 (4%) - 1 (3%) -
Taiwan 1 (4%) - 1 (3%) -
Total 28 $38.0B 36 $38.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Stake Purchase 6 (21%) - 9 (25%) -
Secondary Buyout 6 (21%) 11.7B (31%) 7 (19%) 11.7B (31%)
Going Private 4 (14%) 20.6B (54%) 4 (11%) 20.6B (54%)
Buyout (LBO, MBO, MBI) 4 (14%) 550M (1%) 4 (11%) 550M (1%)
Growth Capital 2 (7%) - 4 (11%) -
Divestiture 3 (11%) 5.1B (13%) 3 (8%) 5.1B (13%)
Consolidation 2 (7%) - 2 (6%) -
Joint Venture - - 2 (6%) -
Recapitalization 1 (4%) - 1 (3%) -
Total 28 $38.0B 36 $38.0B

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
J.P. Morgan Securities
 1
BofA Securities
 1
DNB Markets
 1
Legal Deals
Simpson Thacher & Bartlett
 7
Sidley
 2
Conyers Dill & Pearman
 1

Deal Values

buy # Total
> $1B 8 $37.4B
$100M to $1B 1 $550M
TOTAL $38.0B
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%
7 (19%)
Strategic(s)
11%
4 (11%)
Exited to
Investor(s)
63%
5 (63%)
Strategic(s)
38%
3 (38%)

Investor Summary

Investor Type

Infrastructure

Size

Mega

PE Assets

57.1B USD

Established

2011

Specialist/Generalist

Specialist

Leadership

Michael Dorrell

Chairman, CEO & Co-Founder

Jack Howell

Co-President

Luke Taylor

Co-President

Brenden Woods

Senior Managing Director

Darren Keogh

Senior Managing Director

FAQ

When was Stonepeak founded?

Stonepeak was founded in 2011.

What type of investor is Stonepeak?

Stonepeak is an infrastructure investor.

Where is Stonepeak headquartered?

Stonepeak is headquartered in New York, New York.

How much capital does Stonepeak have under management?

Stonepeak has 57.1B USD under management.

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