Partners Group to acquire Life Cycle Power in the US

Key Takeaways

Partners Group acquired Arroyo Energy Investment Partners.
Sector: Energy Infrastructure & Renewables.
Geography: United States.

Analysis

Partners Group has agreed to acquire Life Cycle Power (LCP), a leading U.S. provider of mobile generation solutions, from an investment partnership managed by Arroyo Investors.

Based in Houston, Texas, LCP operates a fleet with a total capacity of 897 MW, making it one of the largest and most efficient mobile power fleets in the country. It serves a wide range of customers, including data centers, utilities, energy companies, and industrial enterprises.

The company provides turnkey power-as-a-service solutions with services like site permitting, engineering, maintenance, and fuel management. Units can operate on various fuel sources, including renewable natural gas.

LCP benefits from strong market tailwinds, such as rising AI data center demand and the expansion of domestic industrial facilities. Delays in grid interconnection are increasing demand for bridging power solutions, particularly in fast-growing sectors like digital infrastructure.

Partners Group plans to support LCP's expansion into the data center sector, increase average contract lengths, and grow the company’s fleet capacity.

Andre Burba, Managing Director, Infrastructure Americas at Partners Group, stated: “Life Cycle Power delivers mission-critical services with strong infrastructure characteristics. We're excited to partner with the team to expand its market-leading position.”

Thomas Riggs, CEO of LCP, commented: “As interconnection queues grow, our mobile turbine fleet is ready to provide scalable solutions. We look forward to working with Partners Group to meet the evolving needs of our clients.”

Fentress Boyse, Member of Management, Infrastructure Americas at Partners Group, added: “LCP’s modular and mobile fleet provides flexible power for critical infrastructure, regardless of location. Its performance and customer trust enable long-term growth.”

This acquisition follows Partners Group’s investment in green flexibility battery storage in Germany and its exit from Greenlink, a 504 MW subsea interconnector between Great Britain and Ireland. The firm’s infrastructure portfolio totals approximately USD 31 billion in assets under management.

Partners Group is one of the largest global private markets investors, with over 2,000 professionals and USD 174 billion in assets under management. Its platforms span private equity, credit, infrastructure, real estate, and royalties.