SEI News & Events

Solaris Energy Infrastructure announced the acquisition of Global Energy Services Alliance, a full cycle power generation service provider. GESA was formed via the combination of Baseload Power, a U.S.-based provider of power generation aftermarket solutions, and Pro-Per Energy Services, a global provider of power plant installation, and operations and maintenance services. The company said, "Transaction Highlights and Strategy: Strengthens and Scales In-House End-to-End Power Capabilities. Expands the Company's offerings to deliver full cycle power solutions, including front-end plant installation and commissioning services through long-term operations and life-of-asset repair and maintenance required to support a growing global generation asset base. Deepens and Expands Technical Talent Bench. Baseload and Pro-Per bring decades of power operations, maintenance, installation and commissioning, and repair expertise across a broad spectrum of installed generator and turbine classes, including aeroderivative, industrial, heavy-duty, hydroelectric, and steam. This expanded technical bench strengthens Solaris' ability to deliver full turnkey power solutions at scale, meeting the Company's growing customer demand and positioning it to serve additional third-party customers across the expanding global power industry. Introduces New Growth End Markets. Baseload's U.S.-based aftermarket and installation and commissioning services combined with Pro-Per's international O&M experience expands Solaris' capabilities to provide a full scope of domestic and international third-party power generation services for power generation at all sizes, including grid connected, co-located across-the-meter, and behind-the-meter power installations. Strengthens Financial Profile. The acquisition is expected to be accretive to earnings and free cash flow per share and was funded through approximately $55M of cash consideration and the issuance of approximately three million Class A Solaris shares."