Cleco Power Acquired by Stonepeak | Energy M&A Deal

Stonepeak has acquired Cleco Power, a utility services business in Louisiana, for $3 billion. Cleco Power provides regulated electricity services and grid-related utility operations that support energy customers across Louisiana. Stonepeak acquisitions in the energy M&A market focus on owning and operating utility assets, aligning with long-term cash flow needs in LA acquisitions. The merger acquisition is backed by private equity acquisition strategy alongside Bernhard Capital Partners, with deal size reported at $88 billion in total consideration. The announced energy deals LA transaction is expected to close subject to customary approvals and closing conditions.