Solaris Energy's GESA Deal Positions Power Business for Growth, TPH Energy Says

Solaris Energy Infrastructure (SEI) acquired Global Energy Services Alliance on Monday for about $257 million, a transaction that strengthens its power solutions business and supports long-term growth, TPH Energy said in a Tuesday note. SEI is acquiring GESA, a full-cycle generation services provider, for about $257 million through $55 million in cash and 3 million shares valued at last week's closing price. The company said the deal will increase earnings and free cash flow per share. The acquisition brings installation, life-of-asset repair and maintenance, and aftermarket services in-house, while expanding SEI's ability to provide turnkey solutions and diversify revenue, according to TPH Energy. GESA generated about 89% of its 2025-2026 year-to-date revenue from operations and maintenance services for industrial, utility, original equipment manufacturer and energy infrastructure customers, with the remaining 11% coming from international power, TPH Energy said. TPH said the transaction further strengthens SEI's power solutions business by broadening its service capabilities as management continues to scale the segment to meet customer demand. TPH maintained its buy.