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Asset Summaries

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AQN Fact Sheet - White Hall Water Acquisition
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AQN Fact Sheet - Georgia Gas Acquisition
AQN Fact Sheet – Midwest Gas Acquisition
AQN Fact Sheet – Arkansas Water Acquisition
AQN Fact Sheet – New Hampshire Gas & Electric Acquisition
AQN Fact Sheet – AWPH Acquisition

M&A History<< Return to Mergers & Acquisitions
Deal Overview
Buyer: Algonquin Power & Utilities Corp.
Target: Cornwall solar farm
Seller: EffiSolar Energy Corporation
Deal Type: Generation
Agreement Date11/27/2011
Announcement Date11/27/2011
Announcement Deal Value ($000)7,642
Short-term and Current Long-term Debt ($000)NA
Cash and Cash Equivalents ($000)NA
Current Investments ($000)NA
Inventories ($000)NA
Obligations under Capital Leases ($000)NA
Postretirement Benefits ($000)NA
Announced Transaction Value ($000)7,642
Completion Date1/4/2012
Announced Deal Value Per Share ($)NA
Consideration Breakout
Unclassified ($M)4.5
Contingent Payments ($M)3.5
Deal Pricing Ratios
Transaction Value / LTM Recurring EBITDA (x)NANA
Transaction Value / Energy Operating Revenues (x)NANA
Transaction Value / Assets (%)17.7818.44
Price / Adj. Op. Cash Flows (x)NANA
Price / Book (%)NANA
Price / Tangible Book (%)NANA
Price / Earnings (x)NANA
Transaction Value / Nameplate Capacity ($/KW)NANA
Transaction Value / Operating Capacity ($/KW)NANA
Transaction Value / Net Generation ($/MWH)NANA
Deal Terms
Description of Consideration
Algonquin Power & Utilities Corp. has acquired Cornwall solar farm from EffiSolar Energy Corp. for $4.45 million plus an additional contingent consideration of $3.46 million that is based on achieving certain construction milestones. As at December 31, 2012, Algonquin has paid a total of $2.0 million based on achieved milestones.
Accounting MethodAcquisition
Merger of Equals?
Geographic Expansion?In Market
Goodwill Generated ($000)NA
Estimated Cost Savings (%)NA
Est. Restructuring Charges ($000)NA
Termination Fee ($000)
Strike Price ($)NA
% of Shares OutstandingNA
Shares Under OptionNA