M&A Deal Summary

Superior Plus Acquires Certarus

On December 22, 2022, Superior Plus acquired energy services and equipment company Certarus from Longbow Capital for 1.1B USD

Acquisition Highlights
  • This is Superior Plus’ 4th transaction in the Energy Services and Equipment sector.
  • This is Superior Plus’ largest (disclosed) transaction.
  • This is Superior Plus’ 7th transaction in Canada.
  • This is Superior Plus’ 2nd transaction in Alberta.

M&A Deal Summary
Date 2022-12-22
Target Certarus
Sector Energy Services and Equipment
Buyer(s) Superior Plus
Sellers(s) Longbow Capital
Deal Type Add-on Acquisition
Deal Value 1.1B USD
Advisor(s) J.P. Morgan Securities
National Bank Financial
TD Securities (Financial)
Burnet, Duckworth & Palmer LLP (Legal)

Target

Certarus

Calgary, Alberta, Canada
website
Certarus is a provider of on-road low-carbon energy solutions through a fully integrated CNG, renewable natural gas, and hydrogen platform. The company safely delivers clean-burning fuels to energy, utility, agricultural and industrial customers not connected to a pipeline. By displacing more carbon-intensive fuels, it is leading the energy transition and helping customers lower operating costs and improve environmental performance. Certarus is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

Superior Plus

Toronto, Ontario, Canada

website

Category Company
Founded 1996
Sector Diversified
Employees4,261
Revenue 3.4B CAD (2022)
DESCRIPTION

Superior Plus is a diversified company that engages in the energy distribution and specialty chemicals business. The company operates two separate businesses: Energy Distribution and Specialty Chemicals. All of the businesses are operated on the principles of entrepreneurship, continuous improvement, executing on objectives, safety, and teamwork. Superior Plus was founded in 1996 and is based in Toronto, Ontario.

DEAL STATS #
Overall 32 of 32
Sector (Energy Services and Equipment) 4 of 4
Type (Add-on Acquisition) 27 of 27
State (Alberta) 2 of 2
Country (Canada) 7 of 7
Year (2022) 3 of 3
Size (of disclosed) 1 of 17
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-28 Quarles Petroleum - Retail Propane Distribution and Refined Fuels Assets

Fredericksburg, Virginia, United States

Quarles Petroleum, Inc. - Retail Propane Distribution and Refined Fuels Assets provides propane distributor services to residential and commercial customers primarily in Virginia.

Buy $145M

Seller(S) 1

SELLER

Longbow Capital

Calgary, Alberta, Canada

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1997
PE ASSETS 475M CAD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Longbow Capital is a private investment group focused on small to mid-sized oil and natural gas opportunities in Western Canada. Longbow was formed in 1997 and is based in Calgary.

DEAL STATS #
Overall 5 of 5
Sector (Energy Services and Equipment) 3 of 3
Type (Add-on Acquisition) 4 of 4
State (Alberta) 5 of 5
Country (Canada) 5 of 5
Year (2022) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-02 VoltaGrid

Houston, Texas, United States

VoltaGrid is an advanced energy management and generation company that is developing an innovative platform to provide power, energy storage, and emissions reductions for the pressure pumping, remote mining, utility, and distributed generation industries. VoltaGrid was founded in 2020 and is based in Houston, Texas.

Buy -
Mergr

Product

Company

Legal