M&A Deal Summary

Rice Energy Acquires Vantage Energy

On September 26, 2016, Rice Energy acquired oil/gas exploration company Vantage Energy from The Carlyle Group, Riverstone Holdings, Lime Rock Partners and Quantum Energy Partners for 2.7B USD

Acquisition Highlights
  • This is Rice Energy’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Rice Energy’s largest (disclosed) transaction.
  • This is Rice Energy’s 1st transaction in the United States.
  • This is Rice Energy’s 1st transaction in Colorado.

M&A Deal Summary

Date 2016-09-26
Target Vantage Energy
Sector Oil/Gas Exploration
Buyer(s) Rice Energy
Sellers(s) The Carlyle Group
Riverstone Holdings
Lime Rock Partners
Quantum Energy Partners
Deal Type Add-on Acquisition
Deal Value 2.7B USD

Target

Vantage Energy

Englewood, Colorado, United States
website
Vantage Energy is a growth-oriented, independent oil and natural gas company engaged in the acquisition, development and exploration of oil and natural gas properties in the United States, with a focus on the Appalachian basin.

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Buyer(S) 1

Buyer

Rice Energy

Canonsburg, Pennsylvania, United States

website


Category Company
Founded 2008
Sector Energy Services and Equipment
Employees467
Revenue 778M USD (2016)
DESCRIPTION

Rice Energy, Inc. is a family-owned and operated independent oil and gas exploration and production company with operations in Pennsylvania’s Marcellus Shale. Rice is dedicated to being the most landowner-friendly, environmentally conscious and successful exploration company in the Marcellus Shale.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Colorado) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1

Seller(S) 4

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1987
PE ASSETS 376.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 307 of 443
Sector (Oil/Gas Exploration) 7 of 7
Type (Add-on Acquisition) 133 of 184
State (Colorado) 4 of 6
Country (United States) 184 of 250
Year (2016) 19 of 25
Size (of disclosed) 12 of 130
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-26 AmRod

Woodmead, South Africa

AmRod is a distributor of promotional products and clothing, serving distributors in South Africa and neighboring countries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-29 T2 Systems

Indianapolis, Indiana, United States

T2 Systems is a provider of unified SaaS (Software as a Service) parking management solutions. T2 Systems's comprehensive portfolio of services includes solutions that help organizations manage parking permits, citations, gated parking facilities, and special events. T2 Systems was established in 1994 and is based in Indianapolis, Indiana.

Buy -
SELLER

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 46 of 55
Sector (Oil/Gas Exploration) 15 of 20
Type (Add-on Acquisition) 24 of 28
State (Colorado) 2 of 2
Country (United States) 36 of 41
Year (2016) 5 of 5
Size (of disclosed) 3 of 19
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-08-08 Rock Oil Holdings

Denver, Colorado, United States

Rock Oil Holdings LLC is a developer oil and gas reserves in the Eagle Ford Shale trend in south Texas.

Sell $980M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-05 Avant Energy S. de R.L. de C.V.

San Pedro Garza García, Mexico

Avant Energy is a Mexican company focused on the development, construction and operation of infrastructure for the country's oil, natural gas, refined products and electricity sectors, as well as on participation in the recently liberalized markets for these products and services. With offices in Monterrey, Mexico City, and Houston; Avant Energy takes advantage of Mexico's geographic position to access the most important energy supply markets in North America.

Buy -
SELLER

Lime Rock Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 8.9B USD
Size Mega
Type Sector Focused
DESCRIPTION

Lime Rock Partners is a private investment firm focused on growth capital investments in the energy industry. Specifically, Lime Rock looks for companies engaged in exploration & production, energy service, and oil service technology in North America and Europe. Lime Rock's target investment size is $50 to $150 million in businesses valued up to $500 million. Lime Rock Partners was formed in 1998 and is affiliated with Lime Rock Resources. Lime Rock Partners has offices in Westport, Connecticut; Aberdeen, Scotland; and Houston, Texas.


DEAL STATS #
Overall 40 of 57
Sector (Oil/Gas Exploration) 13 of 20
Type (Add-on Acquisition) 18 of 24
State (Colorado) 2 of 2
Country (United States) 17 of 27
Year (2016) 5 of 5
Size (of disclosed) 2 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-19 Senscient

League City, Texas, United States

Senscient, Inc. is a developer, manufacturer, and marketer of advanced gas detection products for industrial safety, risk management, environmental monitoring, and process analysis applications. The technology developed by Senscient solves major problems associated with traditional fixed gas detectors by eliminating routine re-calibration, sensor replacement, unreliable readings, and false alarms that cost industries millions of dollars in lost revenue annually.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Endurance Resources

Addison, Texas, United States

Endurance Resources is an oil and gas exploration and production enterprise. Endurance Resources was founded in 2008 and is based in Addison, Texas.

Sell -
SELLER

Quantum Energy Partners

Houston, Texas, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1998
PE ASSETS 17.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Quantum Energy Partners is a specialist private equity firm focused on investments within the energy sector. Quantum's primary focus is on opportunities within the oil and gas upstream and midstream sectors, however, the Firm will also consider investments in oil field services and equipment, coal, power generation and transmission, and renewable/alternative energy. Quantum's target investment size is $100 to $400 million. Quantum invests in start-ups as well as established companies needing expansion capital. Quantum Energy Partners was formed in 1998 and is headquartered in Houston, Texas.


DEAL STATS #
Overall 12 of 21
Sector (Oil/Gas Exploration) 9 of 13
Type (Add-on Acquisition) 8 of 12
State (Colorado) 2 of 3
Country (United States) 9 of 18
Year (2016) 1 of 3
Size (of disclosed) 4 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-27 Sentinel Peak

Englewood, Colorado, United States

Sentinel Peak is focused on the acquisition and development of onshore oil opportunities, with an emphasis on heavy oil production and thermal enhanced oil recovery in California.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-14 Vitruvian Exploration II

Woodlands, Texas, United States

Vitruvian Exploration II, LLC is focused on the acquisition, exploration and development of emerging and undeveloped oil and gas unconventional resource plays in North America. Vitruvian Exploration II was formed in 2012 and is based in The Woodlands, Texas.

Sell $1.9B