Carnelian Energy Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Carnelian Energy Capital has invested in 5 companies.

Carnelian Energy Capital’s most common sectors for investment areoil/gas exploration (83%) and business services (12%) . The Firm’s most common investment types include growth capital (100%). In total, Carnelian Energy Capital has invested in 4 US states and 2 different countries.

In the last 3 years, Carnelian Energy Capital has exited 3 companies. The Firm’s most common exit type is trade sale (100%). Carnelian Energy Capital’s largest (disclosed) exit occurred in 2023 when it sold Percussion Petroleum II for $475M.

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M&A Summary

  • M&A Total Activity20
    • M&A Buy Activity17
    • M&A Sell Activity3
  • Total Sectors Invested 3
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 6

Carnelian Energy Capital

Carnelian Energy Capital

2229 San Felipe, Suite 1450,
Houston, Texas 77019
United States
(713) 322-7310
www.carnelianenergy.com
info@carnelianec.com

Carnelian Energy Capital is a private investment firm focused on the North American upstream, midstream, and oilfield services sectors of the energy sector. Carnelian Energy Capital was established in 2015 and is headquartered in Houston, Texas.


Investment Criteria

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

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

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

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size 35 75
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (1.4/yr) # 10 2 2 1 - 2 17
Sell (0.6/yr) # - - - 1 2 - 3
vol $603M $603M
  20

Most Recent M&A

Company Date Value Type
Zavanna LLC 2024-09-24 - Growth Capital
Denver, Colorado · www.zavenergy.com
Parallax Energy L.P. 2024-01-09 - Growth Capital
Calgary, Alberta · www.parallaxenergy.ca
Percussion Petroleum II LLC 2023-05-03 475M USD Trade Sale
Houston, Texas
Driftwood Energy Partners LLC 2023-02-14 128M USD Trade Sale
Dallas, Texas · www.driftwoodenergy.com
Apex Energy LLC 2022-09-28 - Growth Capital
Wexford, Pennsylvania · www.apexenergyllc.com
Veritas Permian II LLC 2022-01-01 - Trade Sale
Westworth Village, Texas
Azul Resources LLC 2021-10-06 - Growth Capital
Houston, Texas · www.azulresources.com
VoltaGrid LLC 2021-02-02 - Growth Capital
Houston, Texas · www.voltagrid.com
Hawthorne Energy LLC 2020-06-30 - Growth Capital
Calgary, Alberta · www.hwnenergy.com
Percussion Petroleum II LLC 2020-03-24 - Growth Capital
Houston, Texas
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Oil/Gas Exploration 5 (63%) - 14 (82%) -
Business Services 2 (25%) - 2 (12%) -
Utilities 1 (13%) - 1 (6%) -
Total 8 - 17 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 6 (75%) - 15 (88%) -
  Texas 2 (25%) - 10 (59%) -
  Oklahoma 2 (25%) - 2 (12%) -
  Colorado 1 (13%) - 2 (12%) -
  Pennsylvania 1 (13%) - 1 (6%) -
Canada 2 (25%) - 2 (12%) -
  Alberta 2 (25%) - 2 (12%) -
Total 8 - 17 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 8 (100%) - 17 (100%) -
Total 8 - 17 -

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 3 (100%) 603M (100%)
Total 3 $603M

Deal Values

sell # Total
$100M to $1B 2 $603M
TOTAL $603M
Largest Percussion Petroleum II LLC
$475M (2023-05-03)

M&A Connections

Deals
Exited to
Strategic(s)
100%
3 (100%)

FAQ

When was Carnelian Energy Capital founded?

Carnelian Energy Capital was founded in 2015.

What type of investor is Carnelian Energy Capital?

Carnelian Energy Capital is a private equity firm.

Where is Carnelian Energy Capital headquartered?

Carnelian Energy Capital is headquartered in Houston, Texas.

How much capital does Carnelian Energy Capital have under management?

Carnelian Energy Capital has 1.8B USD under management.

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