DigitalBridge combines with ArcLight Capital Partners
The deal brings more than $150 billion of combined assets across digital infrastructure, power, renewables, batteries, transmission and midstream infrastructure.
Takeaways
- ArcLight Capital Partners is a specialist investor in power and electric infrastructure.
- DigitalBridge and ArcLight Capital Partners are combining.
- The target serves power and electric infrastructure across US.
Under a definitive agreement, DigitalBridge will acquire ArcLight Capital Partners, a Massachusetts-based specialist investor in power and electric infrastructure, in a transaction valued at up to $1.05 billion.
The consideration includes a $650 million base purchase price and up to $400 million of contingent consideration, with Barclays providing committed financing.
ArcLight has invested in electrification infrastructure since its founding in 2001, with activity across power, hydro, solar, wind, battery storage, electric and natural gas transmission, storage infrastructure and digital power.
The firm has owned, controlled or operated more than 70 GW of generation assets and 48,000 miles of electric and gas transmission and storage infrastructure representing more than $90 billion of enterprise value.
ArcLight will operate as a separately managed business within DigitalBridge, with closing conditioned on regulatory approvals, limited partner consents and completion of DigitalBridge’s pending acquisition by an affiliate of SoftBank Group Corp.
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