About ALLETE
ALLETE is a company based in Duluth (United States) founded in 1906 was acquired by Global Infrastructure Partners in May 2024. The company has 1,620 employees as of December 31, 2024. ALLETE has completed 3 acquisitions, including Diamond Spring Wind, New Energy Equity and U.S. Water. ALLETE offers products and services including Minnesota Power, ALLETE Clean Energy, and BNI Energy. ALLETE operates in a competitive market with competitors including Eltronic, SUSI Partners, Natural Power, Swedish Energy Agency and Dulas, among others.
- Headquarter Duluth, United States
- Employees 1620 as on 31 Dec, 2024
- Stage Public
-
Sectors
Energy & Utilities
-
Email
Locked
-
Phone
Locked
-
Website
Locked
-
Social
Locked
- Legal Name Allete, Inc.
-
Annual Revenue
$1.53 B (USD)-18.62as on Dec 31, 2024
-
Net Profit
$179.3 M (USD)-27.44as on Dec 31, 2024
-
EBITDA
$438.3 M (USD)1.29as on Dec 31, 2024
-
Latest Funding Round
$8.95 M (USD), Post-IPO
Aug 11, 2011
-
Investors
CPP Investments
& 1 more
-
Employee Count
1620
as on Dec 31, 2024
-
Investments & Acquisitions
Diamond Spring Wind
& 2 more
-
Acquired by
Global Infrastructure Partners
(May 06, 2024)
Unlock complete access to The Company Check
Get unrestricted viewing across everything we track — from companies and brands to investors, funding rounds, acquisitions, financials, and more.
- Unlimited viewing on all profiles Companies, investors, financials, funding, acquisitions & directors
- Full access to every database India & global coverage, advanced filters and rich profile details
- Always-on access from your team account Single premium plan for everything you see on the portal
IPO & Listings of ALLETE
ALLETE is a publicly listed company on the NYSE with ticker symbol ALE in USA, operating in the Utilities sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of ALLETE
ALLETE offers a comprehensive portfolio of products and services, including Minnesota Power, ALLETE Clean Energy, and BNI Energy.
Delivers electricity and energy services to customers in Minnesota.
Develops and manages renewable energy projects across the US.
Operates energy facilities in North Dakota for reliable power supply.
People of ALLETE
Unlock access to complete
Unlock access to complete
Funding Insights of ALLETE
Investors in ALLETE
ALLETE has secured backing from 2 investors, including institutional and venture fund investors. Prominent investors backing the company include CPP Investments and Global Infrastructure Partners.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
|
Infrastructure and private equity investments are managed across multiple sectors.
|
Locked | Locked | Locked | |
|
Pension fund assets are managed for sustainable long-term growth.
|
Locked | Locked | Locked |
Investor details for ALLETE
Investor domains, locations, round participation, and complete history require an active premium plan.
- Investor domains
- Investor locations
- Funding rounds
- Participation history
Verified entity values are shown only after access is granted.
Investments & Acquisitions by ALLETE
ALLETE has strategically engaged in corporate development activities, having acquired 3 companies. Notable acquisitions include Diamond Spring Wind, New Energy Equity and U.S. Water.
Investment portfolio details for ALLETE
Portfolio company identities, transaction dates, round details, and investment values require an active premium plan.
- Portfolio identities
- Transaction dates
- Round details
- Investment values
Verified entity values are shown only after access is granted.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
|
Independent power producer in wind segment
|
Locked | Locked | 2016 | Locked | |
|
Solar energy projects are developed in the United States.
|
Locked | Locked | 2013 | Locked | |
|
Water treatment services are provided nationwide by U.S. Water.
|
Locked | Locked | 1997 | Locked |
Complete acquisition details for ALLETE
Transaction dates, acquired stakes, disclosed values, domains, and locations require an active premium plan.
- Transaction dates
- Acquired stakes
- Disclosed values
- Domains and locations
Verified entity values are shown only after access is granted.
Financial Statements - ALLETE
Detailed financials for ALLETE
Historical revenue, profit, statement rows, ratios, and trend charts require an active premium plan.
- Historical revenue
- Profit trends
- Statement rows
- Financial ratios
Verified entity values are shown only after access is granted.
Allete Comparisons
Peer comparison for ALLETE
Named peer metrics, headcount, funding, location, and side-by-side benchmarks require an active premium plan.
- Named peers
- Headcount comparison
- Funding comparison
- Operating benchmarks
Verified entity values are shown only after access is granted.
Competitors of ALLETE
ALLETE operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Eltronic, SUSI Partners, Natural Power, Swedish Energy Agency and Dulas, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| Locked | Locked | Locked |
Planning and management services for wind energy projects are provided.
|
|
| Locked | Locked | Locked |
Solar and wind energy projects are financed through specialized services.
|
|
| Locked | Locked | Locked |
Renewable energy projects are managed with analytical and engineering support.
|
|
| Locked | Locked | Locked |
The Swedish Energy Agency was established in 1998 in Eskilstuna.
|
|
| Locked | Locked | Locked |
Renewable energy systems and medical refrigeration equipment are manufactured.
|
Detailed competitors of ALLETE
Competitor domains, locations, full profiles, and operating metrics require an active premium plan.
- Domains and locations
- Full company profiles
- Operating metrics
- Competitive positioning
Verified entity values are shown only after access is granted.
Latest news on Allete
Complete news archive for ALLETE
Full article history, source details, and older brand coverage require an active premium plan.
- Full article archive
- Source and publication date
- Older coverage
- Brand-specific news history
Verified entity values are shown only after access is granted.
Frequently Asked Questions about ALLETE
ALLETE was founded in 1906 and raised its 1st funding round 105 years after it was founded.
ALLETE is headquartered in Duluth, United States.
As of Dec 31, 2024, the latest employee count at ALLETE is 1,620.
Annual revenue of ALLETE is $1.53B as on Dec 31, 2024.
ALLETE is a utility holding company involved in power generation, distribution and water distribution activities through subsidiary companies. Group companies are Minnesota Power-involved in power distribution business; BNI Energy-engaged in coal extraction; ALLETE Clean Energy- develops, Superior Water, Light Power- distributes electricity, water, and natural gas; U.S. Water- supplies water to municipal industrial customers. Claims that Minnesota Power is distributing power to 144k customers located in northern Minneosta.
ALLETE's top competitors include Eltronic, SUSI Partners and Natural Power.
ALLETE offers Minnesota Power, ALLETE Clean Energy, and BNI Energy.
Yes, ALLETE is publicly traded on NYSE under the ticker symbol ALE.
ALLETE has made 3 acquisitions, including Diamond Spring Wind, New Energy Equity, and U.S. Water.
ALLETE has 2 investors. Key investors include CPP Investments, and Global Infrastructure Partners.
The ticker symbol of ALLETE is ALE on NYSE.