Energy Spectrum Capital Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Energy Spectrum Capital has acquired 6 companies. It has also invested in 1 other.

Energy Spectrum Capital’s most common sectors for investment are energy services and equipment (65%) and oil/gas exploration (31%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (86%) and growth capital (9%). In total, Energy Spectrum Capital has invested in 8 US states and 3 different countries. Its largest (disclosed) acquisition occurred in 2013 when it acquired KANATA Energy Group for $330M.

In the last 3 years, Energy Spectrum Capital has exited 3 companies. The Firm’s most common exit type is trade sale (49%). Energy Spectrum Capital’s largest (disclosed) exit occurred in 2018 when it sold Caprock Midstream for $950M.

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M&A Summary

  • M&A Total Activity89
    • M&A Buy Activity56
    • M&A Sell Activity33
  • Total Sectors Invested 5
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 21
  • M&A Advisors 3

Energy Spectrum Capital

5956 Sherry Lane, Suite 900,
Dallas, Texas 75225
United States
(214) 987-6100
www.energyspectrum.com
james_spann@energyspectrumcapital.com

Energy Spectrum Capital is a midstream private equity firm specializing in investment in buyouts and buys and build in middle-market companies. The Firm focused exclusively on the energy industry. ESC looks to make a direct investment in established companies includes oil & gas gathering and transportation systems, processing and treating facilities, storage facilities and other infrastructure facilities. ESC targets growing businesses and seeks to partner with experienced managements teams. The Firm looks to invest $50- $200 million per transaction. Energy Spectrum Capital was formed in 1995 and is based in Dallas, Texas.


Investment Criteria

Sectors of Interest: Energy Services and Equipment, Infrastructure, Oil/Gas Exploration

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 50 200
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.8/yr) # 47 2 3 2 2 - 56
vol $580M $580M
Sell (0.6/yr) # 30 - 1 2 - - 33
vol $1.9B $950M $2.9B
  89

Most Recent M&A

Company Date Value Type
Frontier Midstream Solutions IV LLC 2019-04-15 - Joint Venture
Tulsa, Oklahoma
Pinnacle Midstream II LLC 2019-04-09 - Growth Capital
Houston, Texas · www.pinnaclemidstream.com
Velocity Midstream Partners II LLC 2018-11-01 - Add-on Acquisition
Tulsa, Oklahoma · www.velocitymidstream.com
Caprock Midstream LLC 2018-09-05 950M USD Add-on Acquisition
Humble, Texas · www.caprockmidstream.com
Laser Midstream Co. LLC 2018-08-01 - Buyout (LBO, MBO, MBI)
Houston, Texas
Taproot Energy Partners 2018-05-01 - Buyout (LBO, MBO, MBI)
Denver, Colorado · www.taprootep.com
Great Salt Plains Midstream LLC 2017-12-01 - Buyout (LBO, MBO, MBI)
Oklahoma City, Oklahoma · www.greatsaltplainsmidstream.com
Rimrock Energy Partners LLC 2017-12-01 - Buyout (LBO, MBO, MBI)
Oklahoma City, Oklahoma · www.rimrockenergy.com
Frontier Midstream Solutions III LLC 2017-01-01 - Add-on Acquisition
Tulsa, Oklahoma
Vesta Midstream Partners LLC 2017-01-01 - Buyout (LBO, MBO, MBI)
Tulsa, Oklahoma · www.vestamidstream.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Energy Services and Equipment 7 (47%) 330M (100%) 36 (64%) 330M (57%)
Oil/Gas Exploration 8 (53%) - 17 (30%) 250M (43%)
Information Technology - - 1 (2%) -
Renewable Energy - - 1 (2%) -
Technology Hardware - - 1 (2%) -
Total 15 $330M 56 $580M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 14 (93%) - 53 (96%) 250M (43%)
  Texas 9 (60%) - 29 (53%) -
  Oklahoma 3 (20%) - 16 (29%) 250M (43%)
  Colorado 1 (7%) - 3 (5%) -
  Wyoming - - 1 (2%) -
  New York - - 1 (2%) -
  Iowa - - 1 (2%) -
  Georgia - - 1 (2%) -
Canada 1 (7%) 330M (100%) 2 (4%) 330M (57%)
  Alberta 1 (7%) 330M (100%) 2 (4%) 330M (57%)
Domestic 14 (93%) - 53 (96%) 250M (43%)
Cross-border 1 (7%) 330M (100%) 2 (4%) 330M (57%)
Total 15 $330M 55 $580M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 8 (53%) 330M (100%) 48 (86%) 330M (57%)
Growth Capital 5 (33%) - 5 (9%) -
Joint Venture 2 (13%) - 3 (5%) 250M (43%)
Total 15 $330M 56 $580M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 17 (52%) 1.9B (67%)
Trade Sale 10 (30%) 950M (33%)
Recapitalization 2 (6%) -
Divestiture 1 (3%) -
IPO 1 (3%) -
Merger 1 (3%) -
Secondary Sale 1 (3%) -
Total 33 $2.9B

Top M&A Advisors

Financial Deals
Evercore Group LLC
1
Legal Deals
Vinson & Elkins LLP
1
Orrick, Herrington & Sutcliffe LLP
1

Deal Values

buy # Total
$100M to $1B 2 $580M
TOTAL $580M
Largest KANATA Energy Group Ltd.
$330M (2013-01-31)
sell # Total
$100M to $1B 5 $2.9B
TOTAL $2.9B
Largest Caprock Midstream LLC
$950M (2018-09-05)

M&A Connections

Deals %
Exited to
PE Firm(s)
11%
2 11%
Strategic(s)
89%
16 89%

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