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EnergySolutions (NYSE: ES): To Be Acquired by Energy Capital Partners

EnergySolutions, Inc. (ES) provides a broad range of nuclear services includes engineering, in-plant support services, spent nuclear fuel management, decontamination and decommissioning (“D&D”), operation of nuclear reactors, logistics, transportation, processing and low-level radioactive waste (“LLRW”) disposal to the U.S. Department of Energy, commercial utilities, medical and research facilities. In the United Kingdom, ES operates and provides nuclear decommissioning services for 22 nuclear power plants.

EnergySolutions, Inc. today announced that it has entered into a definitive acquisition agreement to be acquired by a subsidiary of Energy Capital Partners II, LLC in a transaction with an enterprise value of $1.1 billion.

Under the terms of the agreement, EnergySolutions’ shareholders will receive $3.75 in cash for each share of common stock, representing a premium of approximately 20% over the average closing share price of EnergySolutions’ common stock for the 30 days ended January 4, 2013.

ECP plans to operate EnergySolutions as a standalone business operation with the current management team remaining in place.

The ECP acquisition of EnergySolutions is subject to customary closing conditions, including regulatory approvals in the U.S. and U.K. and clearance under the Hart-Scott-Rodino Act. In addition, the transaction is subject to approval by EnergySolutions’ stockholders.

Under the terms of the merger agreement, EnergySolutions may solicit superior proposals from third parties through February 6, 2013. The EnergySolutions Board of Directors, with the assistance of its advisors, will actively solicit acquisition proposals during this period. There are no guarantees that this process will result in a superior proposal. EnergySolutions and the Board of Directors do not intend to disclose developments with respect to the solicitation process unless and until the Board of Directors has made a decision.



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