M&A Deal Summary

HF Sinclair Acquires Suncor Energy - Petro-Canada Lubricants Business

On October 31, 2016, HF Sinclair acquired oil/gas exploration company Suncor Energy - Petro-Canada Lubricants Business from Suncor for 1.1B CAD

Acquisition Highlights
  • This is HF Sinclair’s 1st transaction in the Oil/Gas Exploration sector.
  • This is HF Sinclair’s 2nd largest (disclosed) transaction.
  • This is HF Sinclair’s 1st transaction in Canada.
  • This is HF Sinclair’s 1st transaction in Ontario.

M&A Deal Summary
Date 2016-10-31
Target Suncor Energy - Petro-Canada Lubricants Business
Sector Oil/Gas Exploration
Buyer(s) HF Sinclair
Sellers(s) Suncor
Deal Type Divestiture
Deal Value 1.1B CAD

Target

Suncor Energy - Petro-Canada Lubricants Business

Mississauga, Ontario, Canada
The Petro-Canada Lubricants plant, located in Mississauga, Ontario is the largest producer of base oils in Canada with 15,600 barrels per day of lubricant production capacity, and is the only North American producer of high margin Group III base oils. The facility is downstream integrated from base oils to finished lubricants and produces a broad spectrum of specialty lubricants and white oils which are distributed to end customers worldwide. The Petro-Canada Lubricants business will bring HollyFrontier industry leading product innovation and R&D capabilities, a global sales and distribution network and strong brand portfolio recognized globally.

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Buyer(S) 1

Buyer

HF Sinclair

Dallas, Texas, United States

website

Category Company
Sector Oil/Gas Exploration
Employees5,223
Revenue 38.2B USD (2022)
DESCRIPTION

HF Sinclair is an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel and other specialty products. HF Sinclair owns and operates refineries located in Kansas, Oklahoma, New Mexico, Wyoming, Washington and Utah and markets its refined products in 19 states principally in the Southwest U.S., the Rocky Mountains extending into the Pacific Northwest and in other neighboring Plains states. HF Sinclair supplies high-quality fuels to more than 1,300 Sinclair branded stations and licenses the use of the Sinclair brand at more than 300 additional locations throughout the country.

DEAL STATS #
Overall 1 of 4
Sector (Oil/Gas Exploration) 1 of 3
Type (Divestiture) 1 of 2
State (Ontario) 1 of 1
Country (Canada) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-28 UNEV Pipeline

Artesia,, New Mexico, United States

UNEV Pipeline is the owner of an approximate 400 mile, 12-inch refined products pipeline currently running from Woods Cross, Utah to Las Vegas, Nevada, related products terminals near Cedar City, Utah and Las Vegas, Nevada and other related assets.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-13 Sonneborn

Parsippany, New Jersey, United States

Sonneborn LLC is a provider of white oils, petrolatums, waxes, and other hydrocarbon specialty products such as creams and lotions, cosmetics, and pharmaceutical ointments. Sonneborn is based in Parsippany, New Jersey.

Buy $655M

Seller(S) 1

SELLER

Suncor

Calgary, Alberta, Canada

website

Category Company
Founded 1917
Sector Energy Services and Equipment
Employees12,591
Revenue 58.3B CAD (2022)
DESCRIPTION

Suncor is an integrated energy company. Suncor's operations include oil sands development and upgrading, conventional and offshore oil and gas production, petroleum refining, and product marketing under the petro-canada brand. Suncor was founded in 1917 and is based in Calgary, Canada.

DEAL STATS #
Overall 3 of 4
Sector (Oil/Gas Exploration) 3 of 3
Type (Divestiture) 3 of 4
State (Ontario) 1 of 1
Country (Canada) 2 of 2
Year (2016) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-18 Canadian Oil Sands

Calgary, Alberta, Canada

Canadian Oil Sands Ltd. is an owns and operator of oil sands mining projects.

Buy $6.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-18 Svante

Burnaby, British Columbia, Canada

Svante offers companies in emissions-intensive industries a commercially viable way to capture large-scale CO2 emissions from existing infrastructure, either for safe storage or to be used for further industrial use in a closed-loop. With the ability to capture CO2 directly from industrial sources at less than half the capital cost of existing solutions, Svante makes industrial-scale carbon capture a reality. Svante is based in Burnaby, British Columbia.

Buy -
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