(Source: Energy Capital Partners)
Energy Capital Partners (ECP) has acquired a majority interest in power solutions provider PROENERGY Holdings from affiliates of Eos Partners and ACON Investments, according to a Sept. 5 press release. The financial terms of the deal were not disclosed.
PROENERGY’s portfolio includes a vertically integrated aeroderivative gas turbine platform with a 2.4-gigawatt fleet of contracted peakers in Texas.
The equipment manufacturer for gas power generation solutions also provides maintenance for the global GE LM6000 and LM2500 turbine fleet.
“PROENERGY’s integrated and diversified platform, advanced technical capabilities and experienced team have allowed the company to capture significant market share,” said Tyler Kopp, principal at ECP. “The power sector’s reliability and flexibility needs are growing and changing very quickly. PROENERGY is uniquely positioned to meet this challenge.”
Missouri-based PROENERGY will continue to be led by its executive team, including Founder, President and CEO Jeff Canon.
Latham & Watkins LLP acted as legal adviser to ECP on the transaction. Orrick, Herrington & Sutcliffe LLP acted as legal adviser to PROENERGY.
Winston & Strawn LLP acted as legal adviser to PROENERGY, Eos Partners and ACON Investments. PEI Global Partners LLC acted as financial adviser.
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