Nextpower Bets on Battery Storage, AI Data Centers With $365M Prevalon Deal

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Sun, May 31, 2026 astatine 1:02 PM CDT 6 min read

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Nextpower (NASDAQ:NXT) said it has entered into a definitive statement to get Prevalon Energy, a utility-scale artillery vigor retention systems provider, successful a transaction the institution said would grow its level beyond star into storage, controls, bundle and lifecycle services.

Founder and CEO Dan Shugar said connected an capitalist telephone that the acquisition would enactment Nextpower “immediately successful the BESS and AI information halfway powerfulness proviso business” done Prevalon’s technology, backlog and team. The woody remains taxable to customary closing conditions, including regulatory approvals.

Deal Terms and Updated Outlook

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Chief Financial Officer Chuck Boynton said Nextpower volition get Prevalon for full information of up to $365 million. That includes astir $150 cardinal successful archetypal currency consideration, $50 cardinal of Nextpower banal and up to $165 cardinal of contingent currency information tied to nett targets implicit 4 years.

Boynton said the transaction is expected to adjacent close the extremity of Nextpower’s fiscal archetypal quarter, taxable to antitrust reappraisal and different customary conditions. He besides said Nextpower expects the transaction to adjacent with much than $75 cardinal of currency and currency equivalents.

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In transportation with the acquisition, Nextpower plans to marque inducement grants nether a absorption inducement plan, including show banal units to Prevalon’s owner-managers valued astatine up to $100 million, with vesting tied to 4 years of cumulative Prevalon profit. The institution besides plans up to $35 cardinal successful restricted banal units for existing and caller employees.

Nextpower updated its fiscal 2027 outlook to bespeak the anticipated publication from Prevalon aft closing. Subject to completion of the deal, the institution present expects:

Fiscal 2027 gross of astir $4.0 cardinal to $4.4 billion, up from a anterior outlook of $3.8 cardinal to $4.1 billion.
Fiscal 2027 adjusted EBITDA of $845 cardinal to $930 million, compared with a anterior outlook of $825 cardinal to $900 million.

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Boynton said the updated outlook reflects the expected gross and nett publication from Prevalon aft the anticipated closing date, on with the timing of contracted task enactment and lawsuit deployment schedules. He said Prevalon’s backlog astatine closing is expected to beryllium “significantly supra $300 million.”

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