Energy & Sustainability M&A Activity — June 2020
Recent M&A Activity:
- May 3, 2020: Quintana Energy Services, a US-based company that acts as a provider of diversified oilfield services to onshore oil and natural gas E&P companies, reached a definitive agreement to be acquired by KLX Energy Services for an undisclosed amount.
- May 4, 2020: Highpeak Energy reached a definitive agreement to acquire Pure Acquisition through a reverse merger, resulting in the combined entity trading on the NASDAQ Stock Exchange under the ticker symbol HPK.
- May 7, 2020: Greenwood Sustainable Infrastructure was formed by the merger of GoldenSet Capital Partners and Greenwood Energy. The new company will provide energy infrastructure asset management services, specializing in targeting lower-middle-market sustainable interrelated energy, waste, and water investment.
- May 8, 2020: Alon Bakersfield Property, an oil refinery based in Bakersfield, California, was acquired by Global Clean Energy Holdings, a southern California-based renewable energy company, for $40 million.
- May 11, 2020: Adsorbed Natural Gas Products, a developer and manufacturer of low-pressure on-board adsorbed natural gas storage technology, was acquired by Ingevity for an undisclosed amount.
- May 12, 2020: OnLocation, a provider of consulting services in energy and environmental policy issues, was acquired by KeyLogic Systems, a subsidiary of IIAA Technologies Corp., for an undisclosed amount.
- May 18, 2020: JP3 Measurement, a provider of in-line optical analyzers intended to measure both liquid and natural gas, was acquired by Flotek for $34.4 million.
*Source: PitchBook
Authors
Thomas R. Burton, III
Member / Chair, Energy & Sustainability Practice
Tom Burton has helped to shape the clean energy industry by drawing on his passion for innovation. As a Mintz attorney, Tom counsels investors, entrepreneurs, and Fortune 100 companies. He also guides start-up organizations and accelerators to foster the next generation of energy leaders.
Sahir Surmeli
Member / Co-chair, Energy & Sustainability Practice
Sahir Surmeli is a Mintz business counselor who advises companies, boards, entrepreneurs, investment banks, and venture and private equity investors as they build and grow companies. He handles public offerings, 144A and private financings, acquisitions, joint ventures, and strategic partnerships.