M&A Deal Summary

American Energy Partners Acquires Enduring Resources II

On May 1, 2014, American Energy Partners acquired oil/gas exploration company Enduring Resources II from EnCap Investments, AEC Partners and aPriori Capital Partners for 2.5B USD

Acquisition Highlights
  • This is American Energy Partners’ 1st transaction in the Oil/Gas Exploration sector.
  • This is American Energy Partners’ 2nd largest (disclosed) transaction.
  • This is American Energy Partners’ 1st transaction in the United States.
  • This is American Energy Partners’ 1st transaction in Colorado.

M&A Deal Summary

Date 2014-05-01
Target Enduring Resources II
Sector Oil/Gas Exploration
Buyer(s) American Energy Partners
Sellers(s) EnCap Investments
AEC Partners
aPriori Capital Partners
Deal Type Add-on Acquisition
Deal Value 2.5B USD
Advisor(s) Jefferies (Financial)
Latham & Watkins (Legal)

Target

Enduring Resources II

Denver, Colorado, United States
website
Enduring Resources II LLC is focused on pursuing a diverse portfolio of acquisition and exploitation opportunities in central onshore U.S. basins. Enduring Resources II was founded in 2011 and is based in Denver, Colorado.

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Buyer(S) 1

Buyer

American Energy Partners

Oklahoma City, Oklahoma, United States

website


Category Company
Founded 2013
Sector Energy Services and Equipment
DESCRIPTION

American Energy Partners, LP is an oil and natural gas operating and asset management company located in Oklahoma City, Oklahoma.


DEAL STATS #
Overall 1 of 5
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 1 of 4
State (Colorado) 1 of 1
Country (United States) 1 of 4
Year (2014) 1 of 2
Size (of disclosed) 2 of 2
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-23 Permian Basin assets /Enduring Resources/

Buy $2.5B

Seller(S) 3

SELLER

EnCap Investments

Houston, Texas, United States

Investor Investor Investor Investor Investor

website


Category Growth Capital Firm
Founded 1988
PE ASSETS 38.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EnCap Investments is a private equity firm focused on the US energy sector. EnCap specifically looks for upstream and midstream opportunities within the oil and gas industry. EnCap generally partners with seasoned management when pursuing investments. EnCap Investments has offices in Dallas and Houston.


DEAL STATS #
Overall 37 of 50
Sector (Oil/Gas Exploration) 36 of 47
Type (Add-on Acquisition) 19 of 29
State (Colorado) 7 of 7
Country (United States) 37 of 49
Year (2014) 1 of 1
Size (of disclosed) 2 of 28
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Sabalo Energy

Corpus Christi, Texas, United States

Sabalo Energy is an independent oil and gas company focused on the exploration and exploitation of oil and gas properties in various onshore U.S. basins. Sabalo Energy is based in Corpus Christi, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-18 Sierra Oil & Gas

Mexico City, Mexico

Sierra Oil & Gas is a Mexico City is an independent oil and gas company focused on exploration, development and production opportunities in Mexico.

Buy $525M
SELLER

AEC Partners

website


Category Private Equity Firm
Founded 2017
PE ASSETS 3.9B USD
Size Large
Type Sector Focused
DESCRIPTION

AEC Partners is a private equity firm focused on providing direct equity investments in companies from the energy sector. AEC Partners looks to invest between $25 to $75 million in companies from the Southern US. AEC Partners is based in Houston, Texas was spun out from Avista Capital Partners and formed as an independent firm in 2017.


DEAL STATS #
Overall 1 of 3
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Colorado) 1 of 1
Country (United States) 1 of 2
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-08-15 Hi-Crush Partners

Houston, Texas, United States

Hi-Crush Partners is an integrated producer, transporter, marketer, and distributor of high-quality monocrystalline sand, a specialized mineral that is used as a proppant to enhance the recovery rates of hydrocarbons from oil and natural gas wells. Hi-Crush Partners was founded in 2012 and is based in Houston, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-04-21 Sea-Vista

Ft. Lauderdale, Florida, United States

Sea-Vista owns and operates Jones Act vessels used for U.S. coastwise trade of crude oil, petroleum, and specialty chemical products. Sea-Vista is based in Ft. Lauderdale, Florida.

Buy -
SELLER
DESCRIPTION

aPriori Capital Partners (formerly DLJ Merchant Banking Partners) is a middle-market private equity firm focused on middle-market buyouts in the US and Europe. Sectors of interest include healthcare, retail, consumer, energy, business services, and industrial. aPriori was originally established in 1985 and has offices in New York and Los Angeles.


DEAL STATS #
Overall 42 of 51
Sector (Oil/Gas Exploration) 6 of 6
Type (Add-on Acquisition) 20 of 22
State (Colorado) 4 of 4
Country (United States) 33 of 38
Year (2014) 2 of 4
Size (of disclosed) 6 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-14 Nuveen Investments

Chicago, Illinois, United States

Nuveen Investments LLC provides high-quality investment services designed for institutions and high-net-worth investors as well as the consultants and financial advisors who serve them.

Sell $6.3B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-06 United Site Services

Westborough, Massachusetts, United States

United Site Services is a provider of portable restrooms, temporary fence and related site services. With more than 85 locations coast to coast and the largest fleet of portable sanitation equipment, it is no wonder why United Site Services is trusted by more top industry professionals than any other temporary site service provider. Company wide selection of solutions, products, and our fast, courteous customer service provides peace of mind during all phases of your project or event.

Sell -