How active is Private Equity / PE-Backed Roll-Up in electrical utility acquisitions?

10 disclosed private equity / pe-backed roll-up acquisitions of electrical utility businesses analyzed (6 from 2018+). Run the ExitValue.ai calculator to see what this buyer pool would pay for your specific business.

Who are the most active private equity / pe-backed roll-up buyers of electrical utility businesses?

Top recent acquirers by deal count: Kodiak Gas Services, LLC (1 deals), Blackstone Inc. (1 deals), Canada Pension Plan Investment Board (1 deals), Vistra Corp. (1 deals), Algonquin Power & Utilities Corp. (1 deals), NextEra Energy Transmission, LLC (1 deals).

BUYER POOL ANALYSIS

Selling a Electrical Utility to Private Equity / PE-Backed Roll-Up buyers

Private equity firms and PE-backed platform consolidators acquiring for roll-up, add-on, or platform plays. Pricing tends to lead the market for fee-viable scale, with multi-bidder competitive processes above the EBITDA floor.

Quick answers

How many disclosed transactions?: 10 deals total (6 from 2018+), filtered to Private Equity / PE-Backed Roll-Up acquirers of electrical utility businesses.
Most active buyers: Kodiak Gas Services, LLC (1) · Blackstone Inc. (1) · Canada Pension Plan Investment Board (1) · Vistra Corp. (1) · Algonquin Power & Utilities Corp. (1) · NextEra Energy Transmission, LLC (1)
What would this buyer pool pay for my business?: Run the ExitValue.ai calculator to see your electrical utility priced against the 10 disclosed private equity / pe-backed roll-up transactions in this segment. The engine surfaces the specific multiples that apply to your size, margin, and growth profile.

Recent disclosed deals

Private Equity / PE-Backed Roll-Up acquisitions of electrical utility businesses with named target and named acquirer.

Year	Target	Acquirer
2026	Distributed Power Solutions, Inc.	Kodiak Gas Services, LLC
2025	TXNM Energy, Inc.	Blackstone Inc.
2024	ALLETE, Inc.	Canada Pension Plan Investment Board
2023	Energy Harbor Corp.	Vistra Corp.
2019	Ascendant Group Limited	Algonquin Power & Utilities Corp.
2018	Trans Bay Cable LLC	NextEra Energy Transmission, LLC

What this buyer pool prices for

Private equity acquirers price for scale and roll-up arbitrage. They pay up for businesses that fit a platform thesis - recurring revenue mix above 30%, technician/professional depth, clean financials, and a management layer that survives integration. A electrical utility that fits the platform thesis prices materially above what an individual buyer would pay because PE is buying a platform piece, not an owner-operated shop.

Methodology note

Deal flow shown reflects disclosed M&A transactions in the ExitValue.ai database, filtered to electrical utility businesses acquired by private equity / pe-backed roll-up buyers. Deal counts shown reflect deals with disclosed financials only - total transaction count for this buyer pool is typically 2-3x larger. The valuation engine reveals the specific multiples that apply to your business when you run the calculator above. Full methodology

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Engine-grounded estimate. Comparable private equity / pe-backed roll-up deals on the full results page.