Sunbelt Rentals acquires Nickell Rental
Sunbelt Rentals has acquired Nickell Rental. Since 1998, Nickell Rental has served as one of the largest independent equipment rental companies in the Southeast, serving small to mid-sized contractors, homeowners and the light industrial market.
This exciting development expands Sunbelt Rentals’ Georgia footprint and provides Nickell Rental’s valued customers with access to a more diverse product and service offering. With the addition of these four new General Tool locations in Georgia, Sunbelt Rentals can better serve the greater Atlanta market by providing an effective rental solution for any project or job, including infrastructure, residential or commercial construction, facility maintenance or homeowner applications.
For more information, visit www. sunbeltrentals.com or call (800) 667-9328.
Justrite®, Checkers complete merger agreement
Justrite Safety Group (Justrite®) and Checkers Industrial Products, both portfolio companies of Audax Private Equity, have completed a merger agreement. The merger of Justrite and Checkers creates a leading manufacturer of industrial and environmental safety products.
For more information, visit www. checkers-safety.com or call (877) 384-6103.
ProBility Media Corp. acquires North American Crane Bureau Group Inc.
ProBility Media Corp. has unveiled the acquisition of North American Crane Bureau Group Inc. (NACB) based in Lake Mary, Florida. NACB’s mission is to provide the most comprehensive safety training courses, materials and certifications for operators, inspectors and trainers within the crane and lifting industries both in the U.S. and around the world.
“The ProBility and NACB teams have already initiated the integration and are setting a new bar for training and safety in the crane industry,” stated Evan Levine, CEO of ProBility. “By leveraging NACB’s content, sophisticated simulation technology and extensive network of enterprise customers with ProBility’s state-of-the-art virtual and augmented reality technologies, together we are creating and offering unique technological solutions to more efficiently train students on heavy equipment with methods that are not available in the marketplace today.”
For more information, visit www. cranesafe.com or call (800) 654-5640.
Cleco Corporate Holdings to acquire NRG South Central Generating
Cleco Corporate Holdings LLC, owner of regulated electric utility Cleco Power LLC, will acquire NRG South Central Generating LLC, a subsidiary of NRG Energy Inc., for $1 billion.
Under the terms of the agreement, Cleco will acquire eight generating assets totaling 3,555 MW, transmission operations, and contracts to provide wholesale power to nine Louisiana cooperatives; five municipalities across Arkansas, Louisiana and Texas; and one investor-owned utility. The assets will be acquired through a new unregulated subsidiary, Cleco Energy LLC. South Central’s assets and employees are currently managed by NRG, a New Jerseybased company. Upon closing, seven of the generation assets will be managed by Cleco, a Louisiana-operated company. The Cottonwood plant in Texas will be leased back to NRG, which will operate it until May 2025.
The sale is expected to close before year-end 2018, pending regulatory approvals.
For more information, visit www. cleco.com or call (318) 484-7400.
Aggreko acquires A Contact Electric Rentals LP
Aggreko plc has completed the acquisition of A Contact Electric Rentals LP, a provider of specialized medium- and high-voltage electrical distribution and transformer rental equipment, for an undisclosed amount.
Headquartered in Houston, A Contact has a strong presence in many of the markets Aggreko serves, including the utilities, petrochemical/refining, and oil and gas industries.
The additional capability Aggreko has acquired will enhance its specialized customer offering and enable it to continue delivering solutions for customers across all sectors. It will also be able to provide a niche electrical distribution offering.
For more information, visit www. aggreko.com or call (877) 789-5676.
Gardner Denver acquires Runtech Systems
Gardner Denver Holdings Inc., a leading global provider of mission-critical flow control and compression equipment, has acquired Runtech Systems Oy for a net purchase price of approximately $93 million, funded by cash on hand. Based in Kolho, Finland, Runtech is a leading global manufacturer of turbo-vacuum technology systems and optimization solutions for a variety of process-oriented industrial end markets. Runtech will be part of Gardner Denver’s Industrials segment.
Runtech Co-founder Juha Karvinen said, “Together, our combined capabilities will further expand the technology to broader flow control, vacuum and pressure solutions for the betterment of our customers.”
For more information, visit www. gardnerdenver.com or call (414) 212-4700.
LyondellBasell to acquire A. Schulman Inc.
LyondellBasell, one of the largest plastics, chemicals and refining companies in the world, and A. Schulman Inc., a leading global supplier of high-performance plastic compounds, composites and powders, have entered into a definitive agreement under which LyondellBasell will acquire A. Schulman for a total consideration of $2.25 billion. The acquisition builds upon LyondellBasell’s existing platform in this space to create a premier advanced polymer solutions business with broad geographic reach, leading technologies and a diverse product portfolio.
The proposed acquisition, which has been unanimously approved by the respective boards of LyondellBasell and A. Schulman, is subject to customary closing conditions, including regulatory approvals and approval by A. Schulman shareholders. The acquisition is expected to close in the second half of 2018.
For more information, visit www. lyondellbasell.com or call (713) 309-7200.
American Midstream to sell refined products terminals
American Midstream Partners LP has entered into a definitive agreement for the sale of its refined products terminalling business to DKGP Energy Terminals LLC, a joint venture between Delek Logistics Partners LP and Green Plains Partners LP, for approximately $138.5 million in cash, subject to working capital adjustments. The transaction is expected to close in the first half of 2018, subject to customary closing conditions.
The divestiture of the refined products terminals — located in Caddo Mills, Texas, and North Little Rock, Arkansas — simplifies American Midstream’s business profile while creating capital flexibility. The company anticipates it will also execute sales of additional terminal assets, including its marine and specialty chemical storage facilities, as well as other potential non-core assets.
For more information, visit www. americanmidstream.com, www.delek logistics.com or www.greenplainspart ners.com.
MEG to sell Access Pipeline, Stonefell Terminal for $1.61B
MEG Energy Corp. has entered into an agreement with Wolf Midstream Inc. for the sale of its 50-percent interest in Access Pipeline and 100-percent interest in Stonefell Terminal for cash and other consideration of $1.61 billion (Canadian), representing 13.4 times 2018 annualized EBITDA. MEG will receive $1.52 billion in cash at closing and a credit of $90 million toward future expansions of Access Pipeline, whereby MEG will not pay incremental tolls to fund such expansions.
The transaction comprises the sale of Access Pipeline for total consideration of $1.4 billion and the sale of Stonefell for $210 million. Annualized costs related to the transaction are approximately $80 million for the transportation of diluted bitumen, $25 million for condensate transport and $15 million for blend storage at Stonefell. As a result of the transaction, MEG expects its net cash costs to increase by approximately $50 million on an annualized basis, comprising an increase in transportation and storage costs of approximately $120 million, offset by a reduction in interest costs of approximately $70 million.
The transaction is expected to close in the first quarter of 2018, subject to regulatory approvals and customary closing conditions. There are no financing or other non-customary closing conditions.
For more information, visit www. megenergy.com or call (403) 770-0446.
Platinum Equity acquires Hunterstown power generation facility
Platinum Equity has signed a definitive agreement to acquire GenOn’s Hunterstown power generation facility and related assets in a transaction valued at approximately $520 million. GenOn, a unit of NRG Energy Inc., filed for bankruptcy protection in June 2017.
The acquisition is subject to regulatory approval and is expected to close in the second quarter of 2018.
Located in Gettysburg, Pennsylvania, the Hunterstown facility is a combined-cycle gas turbine generating power plant that provides 810 MW to the grid with enough to supply more than 648,000 homes.
For more information, visit www. platinumequity.com or call (310) 712-1850.
