OKLAHOMA CITY & NEW YORK--(BUSINESS WIRE)--MCEP Holdings, LLC (“MidCentral”) has closed a $75 million capital partnership with Orion Infrastructure Capital (“OIC”).
OIC’s capital will support MidCentral’s new distributed power generation business, PowerStream Dynamics (“PSD”), a mobile power and microgrid solutions company. The funding will support the acquisition of up to an initial 100 megawatts of mobile natural gas fired power generation. PSD will operate in areas where grid power is constrained and is expected to optimize uptime, along with driving significant economic and emissions savings for its customers.
OIC’s partnership builds on the success of a previous investment with MidCentral in 2019 and several other successful OIC investments in distributed power generation for industrial, municipal, and energy customers. Additionally, a portion of OIC’s capital will drive further expansion and innovation in MidCentral’s core services business, including the next generation of asset performance offerings.
“We are delighted to partner with OIC again and look forward to leveraging MidCentral’s asset performance platform and OIC’s exceptional operational team to further expand our business,” said Kristian Kos, CEO of MidCentral.
The investment comes from OIC’s Infrastructure Credit Strategy, which provides non-dilutive and flexible capital to middle market infrastructure businesses in North America. The strategy seeks to capitalize on the growing need for investment and innovation in sustainable Infrastructure in North America.
"We are thrilled to join forces with the MidCentral team again to build off the success of our previous partnership," said Ethan Shoemaker, Investment Partner and Head of Infra Credit at OIC. “This transaction represents an exciting opportunity to support both an established market leader and drive significant growth via its new distributed generation platform, PSD.”
More on OIC
With approximately $5 billion in assets under management, OIC invests in North America and select international markets. OIC’s unique partnership approach – for entrepreneurs, by entrepreneurs – cultivates creative credit, equity, and growth capital solutions to help middle market businesses scale and deploy sustainable infrastructure. OIC’s target investment sectors include energy efficiency, digital infrastructure, social infrastructure, sustainable power generation, renewable fuels, waste & recycling, water, transportation, and agriculture. OIC was founded in 2015 by a team of energy and sustainability veterans, successful infrastructure investors, and former asset owners and industry operators. Across OIC’s platform is a team of approximately 45 professionals based in New York, Houston, and London.
More on MidCentral
Founded in 2011, MidCentral, headquartered in Oklahoma City, is an asset performance management company supporting the Energy sector, that specializes in optimizing customer uptime while minimizing total cost of ownership. Today, the company operates a network of nationwide service centers and centralized manufacturing and distribution hubs across the United States.
