Kirkland Advises VoltaGrid on $1 Billion Strategic Equity Investment from Blackstone and Halliburton to Fund Growth and Acquisition of Propell Technologies
Kirkland & Ellis represented VoltaGrid, a leading behind-the-meter power generation business, on a $1 billion strategic equity investment from funds managed by Blackstone Tactical Opportunities and Halliburton Company. The investment includes a $775 million primary capital raise and a $225 million secondary from existing investors. Proceeds of the capital raise will be used to accelerate deployment of VoltaGrid’s behind- the-meter power generation solutions for data centers, microgrids and industrial applications. In connection with the investment, VoltaGrid has signed a definitive agreement to acquire Propell Technologies Group Inc., a key VoltaGrid supplier. The transactions are subject to customary closing conditions and are expected to close in mid-2026.
Read the transaction press release
The Kirkland team included corporate lawyers Kevin Crews, Alex Robertson, Daley King, Nick Lewis and Chandler Jones; capital markets lawyer Julian Seiguer; debt finance lawyers Lucas Spivey and Osaro Aifuwa; real assets lawyer Chad Smith; tax lawyers David Wheat and Joe Tobias; executive compensation lawyers Stephen Jacobson and Karsten Busby; environmental transactions lawyer Jon Kidwell; energy regulatory lawyer John Decker; and antitrust & competition lawyer Mike Thorpe.
