Clayton-backed PowerTeam completed the acquisition of MVerge from CenterPoint Energy for $850m.

Clayton-backed PowerTeam, a provider of integrated infrastructure services to the natural gas and electric industries across 20 states, completed the acquisition of MVerge, a natural gas distribution and transmission pipeline contractor, from CenterPoint Energy, an energy delivery company, for $850m. "The close of this transaction is a significant step in streamlining CenterPoint Energy's operations and driving our strategy of growing our core utility operations, John W. Somerhalder II, CenterPoint Interim president and CEO.