Cleco Acquired by Stonepeak | Energy M&A Deal

Stonepeak has acquired Cleco, a utility services business in Louisiana, for $3 billion. Cleco provides electricity and related utility services, supporting energy delivery across Louisiana and strengthening Stonepeak acquisitions in the regulated power sector. The Stonepeak acquisitions also align with energy M&A demand for stable cash flows from utility operations, fitting an other acquisition strategy in LA acquisitions. Stonepeak acquisitions are backed by private equity acquisition structures alongside Bernhard Capital Partners, with deal size reported at $3 billion and an announced status.