M&A Deal Summary

32 Degrees Capital, ARC Financial, Azimuth Capital Management and Natural Gas Partners Acquire Seven Generations Energy

On January 1, 2008, private equity firms 32 Degrees Capital, ARC Financial, Azimuth Capital Management and Natural Gas Partners acquired oil/gas exploration company Seven Generations Energy for 300M USD

Acquisition Highlights
  • This is 32 Degrees Capital’s 4th, ARC Financial’s 1st, Azimuth Capital Management’s 8th and Natural Gas Partners’ 5th transaction in the Oil/Gas Exploration sector.
  • This is 32 Degrees Capital’s , ARC Financial’s 3rd, Azimuth Capital Management’s and Natural Gas Partners’ 2nd largest (disclosed) transaction.
  • This is 32 Degrees Capital’s 3rd, ARC Financial’s 1st, Azimuth Capital Management’s 6th and Natural Gas Partners’ 1st transaction in Canada.
  • This is 32 Degrees Capital’s 3rd, ARC Financial’s 1st, Azimuth Capital Management’s 6th and Natural Gas Partners’ 1st transaction in Alberta.
Investment Fate
  • Seven Generations Energy was sold to a strategic buyer in 2021.

M&A Deal Summary

Date 2008-01-01
Target Seven Generations Energy
Sector Oil/Gas Exploration
Buyer(s) 32 Degrees Capital
ARC Financial
Azimuth Capital Management
Natural Gas Partners
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 300M USD

Target

Seven Generations Energy

Calgary, Alberta, Canada
Seven Generations Energy is a private oil and gas company focused on resource plays in North America, including shale gas, tight gas, tight oil, and oil sands. Seven Generations Energy was founded in 2008 and is based in Calgary, Alberta.

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Buyer(S) 4

Buyer

32 Degrees Capital

Calgary, Alberta, Canada

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2004
PE ASSETS 275M CAD
Size Middle-Market
Type Sector Focused
DESCRIPTION

32 Degrees Capital is a private equity firm focused on opportunities within the energy sector. 32 Degrees typically partners with management teams when pursuing transactions and looks to leverage its industry experience and network to build value in portfolio investments. 32 Degrees was founded in 2004 and is based in Calgary, Alberta.


DEAL STATS #
Overall 4 of 7
Sector (Oil/Gas Exploration) 4 of 5
Type (Buyout (LBO, MBO, MBI)) 3 of 3
State (Alberta) 3 of 6
Country (Canada) 3 of 6
Year (2008) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-01-01 Caltex Energy

Calgary, Alberta, Canada

Caltex Energy, Inc. is a energy company with heavy oil and natural gas assets in Saskatchewan and Alberta respectively, employing both grassroots exploration and development and acquisition and exploitation strategies. Management looks to use the exploitation success developed at Krang Energy to continue to find and develop assets at industry leading costs.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 MarkWater Handling Systems

Calgary, Alberta, Canada

MarkWater is an international manufacturer of automated pipe handling equipment with specific focus on the offshore jack-up rig market.

Buy -
Buyer

ARC Financial

Calgary, Alberta, Canada

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 6.0B CAD
Size Mega
Type Sector Focused
DESCRIPTION

ARC Financial Corp is a specialist private equity firm that invests in Canadian energy companies. Specific areas of interest include emerging resources/drilling technologies, oil sands, and oilfield services. ARC looks to commit $25 to $100 million per transaction. Transaction types include buyouts, growth capital financings, and recapitalizations. ARC Financial Corp. was formed in 1989 and is headquartered in Calgary.


DEAL STATS #
Overall 2 of 19
Sector (Oil/Gas Exploration) 1 of 8
Type (Buyout (LBO, MBO, MBI)) 2 of 8
State (Alberta) 1 of 13
Country (Canada) 1 of 16
Year (2008) 1 of 2
Size (of disclosed) 3 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Capio Exploration

Calgary, Alberta, Canada

Capio Exploration Ltd. is a privately held exploration and production company focused on full cycle exploration opportunities and strategic acquisitions in western Canada.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-02-21 Canbriam Energy

Calgary, Alberta, Canada

Canbriam Energy Inc. is a private company focused on unconventional resource exploration and development. Canbriam Energy was founded in 2007 and is based in Calgary, Canada.

Buy $300M
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 8 of 20
Sector (Oil/Gas Exploration) 8 of 16
Type (Buyout (LBO, MBO, MBI)) 5 of 7
State (Alberta) 6 of 15
Country (Canada) 6 of 15
Year (2008) 1 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-06-11 Wave Energy

Calgary, Alberta, Canada

Wave Energy Ltd. is a energy company focused on exploration and development in Saskatchewan and Montana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-21 Osum Oil Sands

Calgary, Alberta, Canada

Osum Oil Sands Corp is a privately-held company focused on bitumen extraction. Osum is positioned in the thermal trend of the Cold Lake oil sands region of Canada, where a substantial majority of the country’s current “in situ” bitumen is produced. Osum Oil Sands was founded in 2006 and is based in Calgary, Alberta.

Buy CA$275M
Buyer

Natural Gas Partners

Dallas, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 20.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Natural Gas Partners is a specialist private equity firm focused on investments in the energy industry. The Firm looks for opportunities in oil and gas production, as well as midstream and oilfield service companies. Natural Gas Partners will also consider start-up company investments. The Firm's investments range from $20 to $100 million. Natural Gas Partners is an affiliate of energy investment firm NGP Energy Capital Management. The Group was formed in 1988 and is headquartered in Irving, Texas with additional offices in Houston; Santa Fe, New Mexico; Stamford, Connecticut; and London.


DEAL STATS #
Overall 10 of 59
Sector (Oil/Gas Exploration) 5 of 38
Type (Buyout (LBO, MBO, MBI)) 8 of 24
State (Alberta) 1 of 6
Country (Canada) 1 of 6
Year (2008) 1 of 2
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-11-09 Resolute Energy

Denver, Colorado, United States

Resolute Energy Corp. is an independent oil and gas company focused on the acquisition and development of unconventional oil and gas properties in the Delaware Basin portion of the Permian Basin of west Texas. Resolute Energy was founded in 2004 and is based in Denver, Colorado.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-01 CanEra Resources

Houston, Texas, United States

CanEra Resources Inc. is an oil and gas exploration and production company with a focus in the Western Canadian Sedimentary Basin.

Buy -