M&A Deal Summary

Longbow Capital and PFM Capital Acquire Elkhorn Resources

On October 22, 2012, private equity firms Longbow Capital and PFM Capital acquired oil/gas exploration company Elkhorn Resources

Acquisition Highlights
  • This is Longbow Capital’s 2nd and PFM Capital’s 7th transaction in the Oil/Gas Exploration sector.
  • This is Longbow Capital’s 3rd and PFM Capital’s 16th transaction in Canada.
  • This is Longbow Capital’s 3rd and PFM Capital’s 7th transaction in Alberta.
Investment Fate
  • Elkhorn Resources was sold to a publicly-traded strategic buyer in 2014 for 427M USD.
  • Elkhorn Resources was sold to a strategic buyer in 2014 for 427M USD.

M&A Deal Summary
Date 2012-10-22
Target Elkhorn Resources
Sector Oil/Gas Exploration
Buyer(s) Longbow Capital
PFM Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Elkhorn Resources

Calgary, Alberta, Canada
Elkhorn Resources, Inc. is a an oil and gas exploration and development company focuses on drilling wells.

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Buyer(S) 2

Buyer

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 3 of 4
Sector (Oil/Gas Exploration) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (Alberta) 3 of 3
Country (Canada) 3 of 3
Year (2012) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-10-18 New Star Energy

Calgary, Alberta, Canada

New Star Energy Ltd. is an oil and natural gas company, with focused operations in the Highvale field located 60 kilometers west of the capital city of Edmonton. New Star Energy was founded in 2012 and is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-01 Waseca Energy

Lloydminster, Alberta, Canada

Waseca is a private company with operations focused in the Lloydminster heavy-oil play. The Waseca technical team previously worked together at Husky Oil Ltd.’s heavy oil operations and at North American Oil Sands.

Sell $127M
Buyer

PFM Capital

Regina, Saskatchewan, Canada

Investor Investor Investor Investor Investor

website

Category Private Equity Firm
Founded 1989
PE ASSETS 652M CAD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PFM Capital is a private equity firm focused on investing in Western Canada with an emphasis on opportunities in Saskatchewan. PFM targets small and medium sized companies and will invest across the capital structure. Areas of interest include agriculture, oil/gas, manufacturing, and real estate. PFM looks to invest $5 to $20 million per transaction. PFM was formed in 1989 and has been investing since 1993. The Firm is based in Regina.

DEAL STATS #
Overall 17 of 22
Sector (Oil/Gas Exploration) 7 of 7
Type (Buyout (LBO, MBO, MBI)) 16 of 19
State (Alberta) 7 of 7
Country (Canada) 16 of 21
Year (2012) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-15 Highrock Energy

Calgary, Alberta, Canada

Highrock Energy Ltd. is a Saskatchewan based private light oil company engages in the exploration, development, and production of oil focused projects in Southeast Saskatchewan.

Buy $5M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-01 Centre Square Place

Regina, Saskatchewan, Canada

Centre Square Place is a sophisticated, stylish, and distinctive condominium living in downtown Regina. Choose from tenth storey penthouses, one to two bedroom + media room/den condominiums or two-story townhouses. Centre Square Place offers the convenience of living close to work, shops, restaurants, and Wascana Lake. Centre Square Place is based in Regina, Saskatchewan.

Buy -
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