Osaka Gas’ Acquisition of Michigan Power


Bracewell LLP is representing Rockland Capital, LLC and its affiliate, Wolverine Power Holdings, LLC, in the sale of 100 percent of the equity interests in Michigan Power Limited Partnership (Michigan Power) to Osaka Gas Michigan Power, LLC, a subsidiary of Osaka Gas USA Corporation.

Michigan Power owns an approximately 125 megawatt gas-fired cogeneration facility located in Ludington, Michigan. The facility provides electricity to Consumers Energy Co. under a power purchase agreement. The facility also sells steam to a neighboring calcium chloride manufacturing plant on a long-term contractual basis.

The transaction is contingent on receiving required governmental approvals.

Rockland Capital is a private equity firm specializing in acquisitions, distressed assets, capital restructuring, and management buyouts. The Firm, led by Joseph Lambert, Scott Harlan and Terry E. Everett is based in The Woodlands.

Osaka Gas Co., Ltd. produces and supplies natural gas primarily in Osaka, Kyoto, and Hyogo areas. The company, led by Hiroshi Ozaki, Takehiro Honjo and Hidetaka Matsuzaka, in 2017 recorded $11.01 Billion Revenues.

Bracewell advised Rockland Capital with a team including Ryan S. Holcomb (Picture), Elena V. Rubinov, Daniel E. Hemli, Ron I. Erlichman, Catherine P. McCarthy, Michele J. Alexander, Bruce R. Jocz, Joshua C. Zive, Jason B. Hutt, Steven J. Lorch, David J. Harty, Jacqueline R. Java, Stephen J. Hug, Sidney Troy Nuñez and Jason W. Keating.

Involved fees earner: Ryan Holcomb – Bracewell; Elena Rubinov – Bracewell; Sidney Nuñez – Bracewell; Catherine McCarthy – Bracewell; Daniel Hemli – Bracewell; Jacqueline Java – Bracewell; Ron I. Erlichman – Bracewell; David Harty – Bracewell; Jason Keating – Bracewell; Michele Alexander – Bracewell; Steven Lorch – Bracewell; Bruce Jocz – Bracewell; Joshua Zive – Bracewell; Stephen Hug – Bracewell; Jason Hutt – Bracewell;

Law Firms: Bracewell;

Clients: Rockland Capital;

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Author: Ambrogio Visconti