Pennybacker Capital Management, LLC (“Pennybacker”),a real assetsinvestmentmanager,todayannounced theacquisitionof Baseline Energy Services, LP (“Baseline”), a provider of low-carbon, mobile distributed powergeneration solutions,togrowitsfleetinthedatacenter, industrialandenergy sectors during a period of significant electrical load growth in the U.S.
Founded in 2012, Baseline owns and operates ~210 MW of natural gas power generation assets across ~1,200 mobile units, providing cost-effective and reliable power solutions toa diverse set of customers including oil and gas, data centers, industrial manufacturing and utilities. Its low-carbon fleet is capable of operating on a variety of fuel sources, including natural gas, CNG/LNG, RNG, and propane, making it a flexible and environmentally responsible alternative to traditional diesel generation. With an established operational footprint across eight states and key U.S. power markets, Baseline is well-positioned to support industries facing increasing power demand, grid reliability challenges and electrification trends.
The existing Baseline management team, including Graham Radler (Chief Executive Officer), will continue to lead the company. Their deep industry expertise, operational excellence,andcommitmenttoinnovationwillbeinstrumentalindrivingthecompany's continued growth and delivering best-in-class power solutions for its customers.
“We are extremely impressed with the business the Baseline team has built and the operational expertise the team exhibits, a competency we believe will drive outperformanceinthis market,”saidTimBerry, Founder,CEOandCo-Chief Investment Officer of Pennybacker. “This transaction showcases Pennybacker's ability to identify compelling portfolio company partners by combining deep industry relationships with data-drivenunderwriting.”
“WelookforwardtopartneringwithGrahamandtheBaseline teamtobuildonitslegacyof delivering cost-effective and reliable distributed power generation solutions for its customers, as well as to expand its capabilities and equipment offerings to serve new customers across the data center, industrial and energy sectors,” added Sam Warfield, Managing Director and Head of Critical Infrastructure at Pennybacker.
Graham Radler, the CEO of Baseline, commented, “Baseline's distributed power generation services provide significant value for energy, data center, and industrial customersthrough rapid”timetopower”project deliveryandaffordablecostsperkilowatt
hour compared to traditional utilities. The new partnership with Pennybacker brings industry expertise and significant capital resources that will seek to allow Baseline to increaseitstotalfleetupto1GWandexpandintonewmarkets facingseverepower supply constraints. Our executive team, our talented staff and I are excited to take the business intothisnewchapteraswegrowourpower generationfleetandgeographicfootprint.
Thankyoutoourpriorlong-terminvestors,TugHillCapital,Alturus CapitalPartners,and Donovan Ventures for your valuable partnership.”
About Pennybacker
PennybackerCapital Management,LLC(Pennybacker)isarealassetsinvestmentmanager basedinAustin,TexaswithofficesinDenver,NewYork,DallasandCharlottewith approximately$4billioninassetsundermanagementasofDecember 2024.Thefirm pursuesrealestateandinfrastructurestrategies,investingacrossthecapitalstructure.For more information, visit https://www.pennybackercap.com
Contact for Pennybacker info@pennybackercap.comhttps://www.pennybackercap.com/disclaimer
About Baseline Energy Services
Founded in 2012, Baseline Energy Services is a leading provider of mobile electric power solutionsfortheenergyandminingindustries. Byutilizingrawand refinednatural gasto generate on-site electricity, Baseline helps customers reduce power costs, improve equipment uptime, and lower carbon emissions. Committed to delivering exceptional service and support, the company leverages reliable equipment, advanced technology- drivensolutions,andateamofexperiencedpowerprofessionalsdedicatedtosafetyand continuous improvement. For more information, visit https://www.baseline-enserv.com
ContactforBaselineEnergy Services
info@baseline-enserv.com
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