Partners Group is acquiring a US provider of mobile power generation solutions from an investment partnership controlled by Arroyo Investors.
The private markets fund manager has agreed to acquire Life Cycle Power (LCP) for an unspecified sum. LCP operates a mobile fleet with a total capacity of 897MW, serving data centres, utilities, energy companies and large commercial and industrial enterprises.
Andre Burba, managing director for infrastructure Americas at Partners Group, said: “LCP is an exciting opportunity to acquire a leading mobile power solutions company that provides mission-critical services.
“The power-as-a-service sector requires substantial upfront capital to build a fleet as well as extensive expertise to manage ongoing operations and maintenance, creating strong infrastructure characteristics.”
Fentress Boyse, member of management, infrastructure Americas, Partners Group, said: “The LCP fleet is mobile and modular, which provides flexibility to serve critical infrastructure regardless of location.
“The company has built a track record as a reliable partner in this emerging sector, which supports customer retention and expansion. The growth opportunity is significant and our deep institutional knowledge across the power and data center sectors in the US informs our transformational value creation plan.”
Thomas Riggs, CEO of LCP, said: “At LCP, our mission is to deliver immediate and scalable power solutions tailored for various locations and diverse industries.
“As average interconnection queues continue to rise in most markets, our innovative turbine fleet is ready to partner with facilities that need power in the near term. We look forward to working with Partners Group and leveraging the firm’s extensive experience building power platforms to expand our offering.”
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