TXU Energy (Energy Future Holdings)
KKR, TPG, and Goldman Sachs took TXU private in 2007 for $45B — the largest LBO in history at the time. Loaded with massive debt, filed one of the largest bankruptcies in US history in 2014. Texas consumers bore the cost through higher electricity prices.
- FOUNDED
- 1882
- ACQUIRED
- KKR (Kohlberg Kravis Roberts), 2007, $45 billion
- IMPACTS
- 1 documented
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Editorial Record
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TXU Energy (Energy Future Holdings) founded
Acquired by KKR (Kohlberg Kravis Roberts) for $45 billion
KKR/TPG's $45B TXU buyout — largest LBO in history — ended in massive bankruptcy
CriticalClosure / BankruptcyKKR, TPG, and Goldman Sachs took TXU private in 2007 for $45 billion, the largest leveraged buyout in history. Loaded with crushing debt, Energy Future Holdings filed one of the largest bankruptcies in US history in 2014. Texas consumers bore higher electricity prices. KKR and TPG lost most of their $8.3B equity investment.
Energy Future Holdings Files for Bankruptcy
Before / After
Debt loaded
reported 2014
before Texas's largest electric utility
after $45B debt, bankruptcy
-100%
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