Lakeside Energy Agrees to Acquire Two Combined-Cycle Power Plants from WPS
OAK BROOK, Ill., Nov. 1, 2012
OAK BROOK, Ill., Nov. 1, 2012 /PRNewswire/ --Lakeside Energy LLC, an owner
and operator of power generation facilities in North America, has agreed to
acquire two combined-cycle power plants from WPS Empire State, a subsidiary of
Integrys Energy Services, Inc. The plants are located in Solvay and Beaver
Falls, New York and sell energy and capacity into the New York Market. The
Beaver Falls plant has a rated capacity of 95 MW and sells steam to two
adjacent industrial customers. The Solvay plant has a rated capacity of 109
"The acquisition of these facilities is consistent with our strategy of
investing in assets where we can create value implementing operational and
commercial improvements," said Christopher Fanella, Executive Vice President
of Lakeside Energy. "We are excited about the strong local operating team.
These are the type of assets we want to continue to build our company around."
Joel Jansen, Managing Director-Energy Assets for Integrys Energy Services,
noted that this transaction is consistent with the company's long-term
strategy for its energy assets portfolio, which is to sell the traditional,
central power plants and focus more on distributed, renewable energy projects.
Selling these plants will have no impact on Integrys' ability to serve New
York retail electric customers. "We would like to thank the dedicated staff
and employees at these facilities. We're pleased the plants will be in good
hands with an operator that has the capabilityto lead these plants well into
The transaction is subject to normal closing conditions and regulatory
About Lakeside Energy LLC
Lakeside acquires, owns and operates power generation facilities in North
America. Headquartered in Oak Brook, Illinois, the company is backed by
American Securities, a New York-based private equity firm. Lakeside looks for
facilities with predictable cash flows, reasonable risk on fuel costs, and
growth and improvement opportunities. Its business model is to create
additional value in companies and assets through the implementation of
operational and commercial improvements. More information on Lakeside Energy
LLC can be found at www.lakesideenergy.com.
About American Securities
Based in New York with an office in Shanghai, American Securities is a leading
U.S. private equity firm that invests in market-leading North American
companies with annual revenues generally ranging from $500 million to $2
billion. American Securities has over $8 billion under management and is
currently investing from its sixth fund. The firm traces its roots to a
family office founded in 1947 to invest and manage a share of the fortune
created from the growth of Sears, Roebuck & Co in the early 1900s. More
information about American Securities can be found at
About Integrys Energy Services, Inc.
Established in 1994, Integrys Energy Services, Inc. provides competitive
energy supply solutions, structured products, and strategies that allow retail
residential, commercial, and industrial customers to manage their energy
needs. Its principal energy marketing operations are in the northeastern
quadrant of the United States. Through its subsidiary, Integrys Energy
Services – Natural Gas LLC, Integrys offers natural gas products to a full
range of end-users throughout the Midwest. Areas of generation expertise
include cogeneration, distributed generation, and renewables such as solar and
landfill gas. Integrys Energy Services, Inc. is a subsidiary of Integrys
Energy Group (NYSE: TEG). More information about Integrys Energy Services is
available online at www.integrysenergy.com.
SOURCE Lakeside Energy LLC
Contact: Mark Hall, +1-312-676-0723, email@example.com
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