North Texas’ Vistra Energy agreed to acquire Energy Harbor for $3.43 billion, including debt. The acquisition will increase Vistra’s capability by approximately 4,000 megawatts of nuclear capacity and add about a million retail customers. Vistra also announced additional share buybacks worth $1 billion.
Energy Harbor operates the second-largest non-regulated nuclear fleet in the U.S., supplying about 33 terawatt hours of carbon-free power generation each year.
“We are excited to announce this unique combination and the many benefits it brings to our key stakeholders, customers, employees, communities, and shareholders,” Jim Burke, Vistra’s CEO, said. “Vistra has been focused on responsibly transitioning our power generation profile, and though we’ve made significant progress over the past several years, there are few opportunities to grow a reliable and dispatchable zero-carbon generation portfolio at scale this quickly. As our country navigates a massive energy transition to cleaner sources of electricity, nuclear energy provides the unique capability of being both carbon-free and a dependable, always-on source of reliable power. With the enactment of the zero-emission nuclear production tax credit, nuclear power generation now has down-side protection against lower power prices, resulting in tremendous upside opportunity compared to other generation with similar attributes.”
As part of the acquisition, Vistra will launch a new nuclear vertical called Vistra Vision, which will own all of Vistra’s nuclear and retail businesses, as well as Vistra Zero—renewables and storage projects—assets. Vistra Vision will operate one of the largest retail businesses in the country with approximately 5 million customers across 18 states.
Trinity Industries Acquires RSI Logistics for $70 Million
Dallas-based Trinity Industries agreed to acquire RSI Logistics, a data, software, and logistics provider to the North American rail industry, for $70 million. With 46 of the Fortune 500 as clients, RSI will merge all employees under the Trinity roof.
“We are excited about the acquisition of RSI Logistics,” Jean Savage, the president and CEO of Trinity, said. “It is another step as we seek to expand our service offerings with complementary solutions that make rail a more compelling mode of transportation. Specifically, RSI expands the breadth and quality of Trinity’s platform, adding logistics services, terminal operations, and intermodal transportation. Also, coupling RSI’s expertise and reputation with the transformational technology of Trinsight will deliver a unique tool to rail shippers to gain more control of their supply chains.”
Trinity Industries reported $1.98 billion in revenue in 2022.
Southern Glazer’s Wine & Spirits Enters New Markets With Acquisition
Southern Glazer’s Wine & Spirits is increasing their global footprint with the acquisition of Miami-based Webb Bank, the largest wine and spirits distributor in the Caribbean, Central America, and South America. The acquisition of Webb—which operates in 34 markets with more than 200 distributor partners—will also increase Southern Glazer’s presence on cruise ships and travel retail in the Atlantic.
“This acquisition provides another connection point for Southern Glazer’s and our valued suppliers who are looking for expert route-to-market capabilities across the Atlantic Basin,” said Scott Oppenheimer, president of Southern Glazer’s eastern region. “Combining the strength of our supply chain and logistics expertise with Webb Banks’ strong customer relationships and knowledge of the market makes this acquisition an absolute game changer for our suppliers.”
Water Cooler at Pegasus Park Reaches Full Capacity With Six New Tenants
The social impact co-working hub Water Cooler at Pegasus Park has reached full capacity of its five-floor, 175,000-square-foot space. With six new occupants, a total of 32 philanthropic and nonprofit tenants fill the space.
The six new tenants are:
- Engage Dallas: a leadership program committed to advancing equity and impacting Dallas through civic engagement and service.
- Housing Forward: a nonprofit which aims to make homelessness rare, brief, and non-recurring in Dallas and Collin Counties
- PCCI: a nonprofit arm of Parkland Health that works to advance the health of underserved and vulnerable communities
- Teach for America: a network of former educators working to confront educational inequity
- Texas Women’s Foundation: a driver of social and and economic change for women which has granted more than $46.6 million over 34 years.
- The 2.0 Collaborative: a Dallas nonprofit
“Water Cooler has become home to an exceptional group of organizations that embrace the idea of sharing space to foster meaningful collaboration in service to their missions. I look forward to continuing to see positive results from the Water Cooler tenants as they individually and collectively address major issues in our community and beyond,” Lyda Hill, the founder of Lyda Hill Philanthropies, said.
Spectrum Plans to Double the Size of its Coppell Network Design Center
Spectrum, a telecommunication company under Charter Communication, is searching for 100 new broadband network designers as part of its plan to nearly double the size of its Coppell-based network design center. The increase will bring Spectrum’s network to more than 1 million additional homes and small businesses.
Spectrum currently has 100 employees at the Coppell center and more than 15,500 across the state of Texas.