M&A Deal Summary

4D Global Energy Advisors, Azimuth Capital Management, Warburg Pincus and Riverstone Holdings Acquire Fairfield Energy

On November 8, 2005, private equity firms 4D Global Energy Advisors, Azimuth Capital Management, Warburg Pincus and Riverstone Holdings acquired oil/gas exploration company Fairfield Energy for 200M USD

Acquisition Highlights
  • This is 4D Global Energy Advisors’ 1st, Azimuth Capital Management’s 4th, Warburg Pincus’ 7th and Riverstone Holdings’ 5th transaction in the Oil/Gas Exploration sector.
  • This is 4D Global Energy Advisors’ , Azimuth Capital Management’s 3rd, Warburg Pincus’ 35th and Riverstone Holdings’ 9th largest (disclosed) transaction.
  • This is 4D Global Energy Advisors’ 1st, Azimuth Capital Management’s 1st, Warburg Pincus’ 9th and Riverstone Holdings’ 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2005-11-08
Target Fairfield Energy
Sector Oil/Gas Exploration
Buyer(s) 4D Global Energy Advisors
Azimuth Capital Management
Warburg Pincus
Riverstone Holdings
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 200M USD

Target

Fairfield Energy

Middlesex, United Kingdom
website
Fairfield Energy is an exploration and production company focused on the exploitation of undeveloped and abandoned oil and natural gas fields in the North Sea through a balance of redevelopment, appraisal, and exploration activities. Warburg Pincus invested in Fairfield in 2005. Management has commenced the evaluation of its first two project areas.

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Buyer(S) 4

Buyer

4D Global Energy Advisors

Paris, France

Investor Investor Investor

website


Category Private Equity Firm
Founded 2002
PE ASSETS 478M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

4D Global Energy Advisors is a European private equity investor with a focus on providing development capital to the mid-market oil and gas value chain. 4D invests in small to medium-sized companies valued from $25 to $300 million. The Firm generally takes significant minority stakes and is an 'active' investor in helping portfolio companies build value. 4D Global was formed in 2002 and is based in Paris.


DEAL STATS #
Overall 4 of 15
Sector (Oil/Gas Exploration) 1 of 5
Type (Buyout (LBO, MBO, MBI)) 4 of 9
Country (United Kingdom) 1 of 2
Year (2005) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-06-22 Geoservices SA

Roissy-en-France, France

Geoservices SA provides a critical niche business in drilling operations, and provides a number of services that help oil and gas companies to evaluate hydrocarbon reservoirs and to optimise field appraisal, development and production.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-12 ARKeX

Cambridge, United Kingdom

ARKeX offers to the oil, gas and mining sectors specialist services in airborne gravity gradiometry. Airborne gravity gradiometry gives exploration companies rapid access to detailed structural information.

Buy -
Buyer
DESCRIPTION

Azimuth Capital Management is an independent Canadian private equity firm focused on the energy sector. Azimuth makes equity investments in early stage and emerging energy companies focused on resource and infrastructure development. The Firm generally invests in Canadian companies but will consider opportunities in the US as well. Azimuth Capital Management is based in Calgary.


DEAL STATS #
Overall 4 of 20
Sector (Oil/Gas Exploration) 4 of 16
Type (Buyout (LBO, MBO, MBI)) 3 of 7
Country (United Kingdom) 1 of 2
Year (2005) 2 of 3
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-28 Medora Resources

Calgary, Alberta, Canada

Medora Resources, Inc. is a energy Corporation engaged in the exploration, development and production of mainly crude oil in SE and SW Saskatchewan.

Buy $33M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-30 Cobalt International Energy

Houston, Texas, United States

Cobalt International Energy, Inc. is an oil and gas exploration and development company focused on pursuing niche opportunities in the Deepwater Gulf of Mexico and offshore international areas. Cobalt's strategy is to utilize its regional expertise along with advanced technology to identify and develop meaningful reserve targets in select offshore ventures. Cobalt International Energy is based in Houston, Texas.

Buy -
Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 86 of 473
Sector (Oil/Gas Exploration) 7 of 40
Type (Buyout (LBO, MBO, MBI)) 31 of 84
Country (United Kingdom) 9 of 26
Year (2005) 16 of 17
Size (of disclosed) 35 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-03 CCS Medical

Farmers Branch, Texas, United States

CCS Medical, Inc. (formerly Chronic Care Solutions Inc) is a rapidly growing provider of quality home medical supplies and services to patients with chronic conditions throughout the United States. By working closely with healthcare professionals and healthcare organizations we ensure the seamless coordination and efficient delivery of critical medical supplies directly to our patients' doorsteps. We are a leader in the industry and are recognized as the most-recommended provider by healthcare professionals because of our commitment to quality, compliance and superior customer care.

Buy $360M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-12-09 Harbin Pharmaceutical Group

Harbin, China

Harbin Pharmaceutical Group is a domestic pharmaceutical company. The Company is a large-scale and efficient manufacturer and distributor of generic antibiotics drugs. Harbin Pharmaceutical Group is based in Harbin, China.

Buy -
Buyer

Riverstone Holdings

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2000
PE ASSETS 40.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Riverstone Holdings is a large specialist private equity firm focused on opportunities in the energy and power industry. Specific areas of interest include oil & gas exploration, midstream transportation/logistics, electric generation, energy & power service, power infrastructure, and energy & power technology. Riverstone was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 18 of 106
Sector (Oil/Gas Exploration) 5 of 42
Type (Buyout (LBO, MBO, MBI)) 10 of 52
Country (United Kingdom) 1 of 8
Year (2005) 6 of 7
Size (of disclosed) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-01 CDM MAX

Houston, Texas, United States

CDM MAX is a Texas-based resource management company with gas processing facilities located in southern Louisiana. CDM MAX's service is providing natural gas producers with the optimal combination of residue revenue and NGL revenue for their gas, each day, by adjusting NGL recoveries up or down, to capture positive NGL margins and avoid losses during negative margin periods.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-11-30 Cobalt International Energy

Houston, Texas, United States

Cobalt International Energy, Inc. is an oil and gas exploration and development company focused on pursuing niche opportunities in the Deepwater Gulf of Mexico and offshore international areas. Cobalt's strategy is to utilize its regional expertise along with advanced technology to identify and develop meaningful reserve targets in select offshore ventures. Cobalt International Energy is based in Houston, Texas.

Buy -