Denham Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

In the last 3 years, Denham Capital has invested in 2 companies.

Denham Capital’s most common sectors for investment areoil/gas exploration (42%) and renewable energy (27%) . The Firm’s most common investment types include growth capital (44%) and stake purchase (31%). In total, Denham Capital has invested in 13 US states and 15 different countries. Its largest (disclosed) acquisition occurred in 2008 when it acquired MS Directional for $165M.

In the last 3 years, Denham Capital has exited 2 companies. The Firm’s most common exit type is trade sale (55%). Denham Capital’s largest (disclosed) exit occurred in 2019 when it sold Covey Park Energy for $2.2B.

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M&A Summary

  • M&A Total Activity68
    • M&A Buy Activity46
    • M&A Sell Activity22
  • Total Sectors Invested 6
  • Total Countries Invested 15
  • M&A Buy/Sell Connections 21
  • M&A Advisors 8

Denham Capital

Denham Capital

185 Dartmouth Street, 7th Floor,
Boston, Massachusetts 02116
United States
(617) 531-7200
www.denhamcapital.com
stu.porter@denhamcapital.com

Denham Capital Management is a specialist private investment firm focused on the energy and commodities sectors. Denham looks to invest in businesses and assets involving natural resources, metals and mining, power and utilities, and energy-related infrastructure and services. Denham will consider investments worldwide, with current projects in the US, Canada, South America, Europe, and Asia. Denham will also consider both development projects as well as mature, operating businesses. The Firm's target investment size is $50 to $200 million. Denham Capital Management was founded in 2004 and is based in Boston, Massachusetts.


Investment Criteria

Sectors of Interest: Energy Services and Equipment, Infrastructure, Metals/Mining, Oil/Gas Exploration, Renewable Energy, Utilities

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Secondary Buyout, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada, United Kingdom, Western Europe, Eastern Europe, Nordic, Asia/Pacific

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 ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 43 1 - - 2 - 46
vol $265M $265M
Sell (0.4/yr) # 20 - - - 2 - 22
vol $4.3B $1.0B $5.3B
  68

Most Recent M&A

Company Date Value Type
Rio Energy 2023-07-21 - Trade Sale
Rio de Janeiro, Brazil · www.rioenergy.com.br
EVC Chargers Ltd. 2023-02-28 - Growth Capital
Crawley, United Kingdom · www.evc.co.uk
Solops LLC 2023-02-10 - Growth Capital
Palm Beach Gardens, Florida · www.solops.com
Nexif Energy Management Pte. Ltd. 2023-01-05 1.0B USD Trade Sale
Singapore, Singapore · www.nexifenergy.com
Ceiba Energy Services, Inc. 2020-01-13 - Growth Capital
Houston, Texas · www.ceibaenergy.com
BTE Renewables 2019-08-01 - Secondary Sale
Fourways, South Africa · www.bterenewables.com
Covey Park Energy LLC 2019-06-10 2.2B USD Trade Sale
Dallas, Texas · www.coveypark.com
WhiteWater Midstream LLC 2019-02-04 - Secondary Sale
Austin, Texas · www.whitewatermidstream.com
Horizon Resources LLC 2018-03-20 - Growth Capital
Denver, Colorado · www.horizonresourcesllc.com
Neo Themis 2018-02-28 - Growth Capital
Casablanca, Morocco · www.neothemis.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Oil/Gas Exploration 1 (10%) - 19 (41%) 265M (100%)
Renewable Energy 3 (30%) - 12 (26%) -
Metals/Mining 3 (30%) - 6 (13%) -
Energy Services and Equipment 3 (30%) - 5 (11%) -
Chemicals - - 2 (4%) -
Utilities - - 2 (4%) -
Total 10 - 46 $265M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 4 (40%) - 26 (57%) 165M (62%)
  Texas 2 (20%) - 13 (28%) 165M (62%)
  Colorado - - 2 (4%) -
  California 1 (10%) - 1 (2%) -
  Florida 1 (10%) - 1 (2%) -
  West Virginia - - 1 (2%) -
  South Carolina - - 1 (2%) -
  Pennsylvania - - 1 (2%) -
  Oklahoma - - 1 (2%) -
  Nevada - - 1 (2%) -
  Minnesota - - 1 (2%) -
  Massachusetts - - 1 (2%) -
  Illinois - - 1 (2%) -
  Hawaii - - 1 (2%) -
Canada - - 3 (7%) -
  Alberta - - 2 (4%) -
  British Columbia - - 1 (2%) -
United Kingdom 1 (10%) - 2 (4%) -
Brazil 1 (10%) - 2 (4%) -
South Africa 1 (10%) - 2 (4%) -
Singapore - - 2 (4%) -
Australia 1 (10%) - 1 (2%) -
Chile 1 (10%) - 1 (2%) -
Morocco 1 (10%) - 1 (2%) -
Colombia - - 1 (2%) 100M (38%)
Spain - - 1 (2%) -
Luxembourg - - 1 (2%) -
Netherlands - - 1 (2%) -
New Zealand - - 1 (2%) -
Philippines - - 1 (2%) -
Total 10 - 46 $265M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 8 (80%) - 20 (43%) -
Stake Purchase - - 14 (30%) -
Buyout (LBO, MBO, MBI) 2 (20%) - 7 (15%) -
PIPE - - 2 (4%) 100M (38%)
Secondary Buyout - - 1 (2%) 165M (62%)
Going Private - - 1 (2%) -
Recapitalization - - 1 (2%) -
Total 10 - 46 $265M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 8 (36%) 4.8B (91%)
Trade Sale 7 (32%) 492M (9%)
IPO 2 (9%) -
Secondary Sale 2 (9%) -
Bankruptcy 1 (5%) -
Recapitalization 1 (5%) -
Stake Sale 1 (5%) -
Total 22 $5.3B

Top M&A Advisors

Financial Deals
BofA Securities
 1
Credit Suisse Investment Banking
 1
Simmons & Company
 1
Legal Deals
Sidley
 2
Lefosse Advogados
 1
Norton Rose Fulbright
 1

Deal Values

buy # Total
$100M to $1B 1 $165M
< $100M 1 $100M
TOTAL $265M
Largest MS Directional
$165M (2008-08-11)
sell # Total
> $1B 2 $3.2B
$100M to $1B 7 $2.1B
TOTAL $5.3B
Largest Covey Park Energy LLC
$2.2B (2019-06-10)

M&A Connections

Deals
Acquired from
Investor(s)
4%
2 (4%)
Exited to
Investor(s)
9%
2 (9%)
Strategic(s)
55%
12 (55%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

9.7B USD

Established

2004

Specialist/Generalist

Specialist

Leadership

Stuart Porter

Founder & CEO

Carl Tricoli

Founder & Managing Partner

Alberto Garcia

Managing Director

Sarah Lane

Managing Director

Timothy Radcliff

Managing Director

FAQ

When was Denham Capital founded?

Denham Capital was founded in 2004.

What type of investor is Denham Capital?

Denham Capital is a private equity firm.

Where is Denham Capital headquartered?

Denham Capital is headquartered in Boston, Massachusetts.

How much capital does Denham Capital have under management?

Denham Capital has 9.7B USD under management.

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