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Joele Frank handles NRG Energy, which is acquiring the natural gas generation facilities of infrastructure company LS Power in a cash, stock and debt assumption deal valued at $12B.
The transaction for 13 gigawatts of power doubles NRG’s capacity and expands its footprint in Texas and the Northeast.
“This acquisition transforms NRG’s generation fleet and broadens our customized product offerings, enhancing our ability to bring the future of energy to millions of customers across the U.S.,” said Larry Coben, NRG CEO.
Noting that the country is in the early stages of a power demand supercycle, Coben said NRG is “excited to lead the way with reliable energy solutions that will drive considerable value for the company and all of our stakeholders.”
LS Power is expected to own approximately 11 percent of NRG shares outstanding, and has committed to a 6-month lock-up period with respect to its equity ownership of NRG common stock.
It will retain approximately 10 GW of electric generation capacity across natural gas, renewables, and energy storage projects,
Joele Frank, Wilkinson, Brimmer, Katcher has partners Barrett Golden and Jed Repko, managing director Tim Ragones and director Fouad Boutros representing NRG.
Prosek Partners handles LP Power.
Amsterdam’s CFF Communications handles Accell Group as Europe’s No 1 e-bike and No. 2 bicycle maker declares insolvency after failing to find a buyer.
Randy Sinclair, who rose to lead investor relations at Chevron during an 11-year run, will move to Northrop Grumman on Aug. 10 as VP-IR.
Trailrunner International is handling Axum Capital Partners’ move to acquire a controlling interest in BARCODE, a performance hydration brand, in partnership with NBA All-Star Victor Wembanyama.
Alpha IR and Alpha Advisory Group represent McKinley Acquisition Corp. as it plans to take hostile drone spotter and destroyer Space-Eyes public via a SPAC deal valued at $370M.
FGS Global keeps its position at the top of the heap in Mergermarket’s rankings of the top PR advisors in M&A deals for 1H26.
