Summary

Industry | Market Insight And Select Recent M&A Activity

M&A: Shermco Industries, a leading provider of testing, commissioning, maintenance and repair of electrical equipment and power distribution systems has been acquired by Gryphon Investors. The Company was previously a portfolio company of funds managed by the GFI Energy Group of Oaktree Capital Management. HW&Co. served as the exclusive financial advisor to Shermco.
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M&A: Siemens Building Technologies, a system integration and energy management services subsidiary of Siemens AG [ETR: SIE) has acquired Enlighted, a provider of sensor-based IoT automation equipment and software.
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M&A: M Group Services, a leading utility service provider in the United Kingdom has been acquired by PAI Partners. The Company was previously a portfolio company of First Reserve.
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Our Latest Insights: Interest and investment in energy transmission and distribution

There is growing investor interest in substation protection and controls, as well as in technologies that can help utilities manage the increasingly complicated grid. High levels of fragmentation are adding to the momentum.

Get Managing Director Matt White’s full insights on these dynamics and the opportunities they create

Public Markets | Key Trading Statistics1

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What We're Reading

Oil & Gas | Lone Star Rising

“Ever since 1923, when a now legendary oil well southeast of Midland called the Santa Rita No. 1 struck black gold, the Permian Basin has been known as a big one. But for decades, the oil industry was unable to profitably pull much oil from shale - only from other, easier-to-tap, rock formations. The fracking revolution has changed the game, and the emergence of the Permian is changing the geopolitics of energy. Oil production in the Permian soared to 3.2 million barrels per day in May 2018, and it has helped push total U.S. production to the highest levels recorded since the federal government began tracking production in 1920.”

Fortune

Oil & Gas | Tailwinds Across Key Financial Metrics

“The U.S. Energy Information Agency recently released their annual financial review of the global oil and natural gas industry, which includes analysis of key financial metrics across more than 125 upstream and downstream operators. Key findings include a 21% year-over-year increase in the daily average price of Brent crude, an increase in upstream capital expenditures and cash flow of more than $6 billion and $106 billion, respectively, and a reduction of debt for the first time since 2008.”

EIA

Downstream | Refiners Adjusting To Booming Supply Of Lighter Crude

“Over the past thirty years, the U.S. has come to dominate the global refining industry. Many larger U.S. refineries have recently received new investments to upgrade capacity. Still, most Gulf Coast refiners are at or near a limit in terms of the amount of light tight oil ("LTO") they can process.  Therefore, virtually all additional LTO production will continue to go to exports, which have recently been consistently above 2 MMBPD already.  Turner Mason analyzes the impacts of changes in crude supply, refinery investment, logistics developments, and regulations, that impact crude availability and refiner’s crude slates.”

Turner Mason

Energy Efficiency | A Rising Tide Of Energy Efficiency Labor Demand

“Looking for a job or smart investment? The energy efficiency field is an increasingly good bet for workers and financiers. Here’s why: new data show it employed 2.25 million Americans last year — more than the combined total of jobs to produce coal, oil, gas, and electricity (including renewables). Over the last three years, the sustained growth of energy efficiency jobs has flattened electricity demand, driven greenhouse gas reductions, made American manufacturers more competitive and created millions of jobs. ACEEE provides an overview of the fastest growing energy sectors and employment trends across the industry.”

ACEEE

Renewables | Making Wind Energy Data A Breeze

“The U.S. Department of Energy and the U.S. Geological Survey announced the release of an online dataset and visualization tool of all wind turbines in the United States. This new tool enables users to view the comprehensive data of the location and characteristics of wind turbines, including density, height range, year of installation, capacity, and numerous additional technical specifications. As the most expansive wind energy research tool available to date, the database provides access to critical metrics and facilitates a variety of analysis for government agencies, scientists, private companies, and public citizens.”

EERS

M&A Transactions

Recent M&A Transactions1,2

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Public Markets Overview

Energy Equipment and Services1

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Power Equipment and Services1

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Infrastructure Services1

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Industry Statistics

Commodity Prices1

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Rig Counts3

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Construction Spend4

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Construction Indicators5,6

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Public Comparables1

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1.FactSet.

2.MergerMarket.

3.Baker Hughes.

4.U.S. Department of Commerce

5.American Institute of Architects

6.Dodge Data & Analytics