M&A Deal Summary

EnCap Investments and Riverstone Holdings Acquire Sierra Oil & Gas

On September 18, 2014, growth capital firm EnCap Investments and private equity firm Riverstone Holdings acquired oil/gas exploration company Sierra Oil & Gas for 525M USD

Acquisition Highlights
  • This is EnCap Investments’ 86th and Riverstone Holdings’ 36th transaction in the Oil/Gas Exploration sector.
  • This is EnCap Investments’ and Riverstone Holdings’ 5th largest (disclosed) transaction.
  • This is EnCap Investments’ 1st and Riverstone Holdings’ 1st transaction in Mexico.

M&A Deal Summary

Date 2014-09-18
Target Sierra Oil & Gas
Sector Oil/Gas Exploration
Buyer(s) EnCap Investments
Riverstone Holdings
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 525M USD

Target

Sierra Oil & Gas

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

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Buyer(S) 2

Buyer

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 87 of 109
Sector (Oil/Gas Exploration) 86 of 105
Type (Buyout (LBO, MBO, MBI)) 49 of 63
Country (Mexico) 1 of 1
Year (2014) 6 of 6
Size (of disclosed) 1 of 13
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-01 Enduring Resources II

Denver, Colorado, United States

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.

Sell $2.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-01-01 Verdun Oil

Houston, Texas, United States

Verdun Oil is an oil and gas company that will pursue the identification, acquisition and development of oil and gas assets in the United States. Verdun Oil is based in Houston, Texas.

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 94 of 106
Sector (Oil/Gas Exploration) 36 of 42
Type (Buyout (LBO, MBO, MBI)) 50 of 52
Country (Mexico) 1 of 2
Year (2014) 3 of 4
Size (of disclosed) 5 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-07-14 Quorum Software

Houston, Texas, United States

Quorum Software is a portfolio of finance, operations, and accounting software that empowers energy companies of all sizes to conquer their most complex business challenges. Quorum Software was founded in 1998 and is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-23 Proserv

Aberdeen, United Kingdom

Proserv is a controls technology company incorporating two divisions, Proserv Controls, which encompasses our innovative subsea controls solutions, alongside our topside, IWOCS, sampling, and measurement offerings to the oil & gas and renewables markets, and Gilmore, a Proserv Company, known for its globally renowned control valves. Proserv is based in Aberdeen, United Kingdom.

Buy -