M&A Deal Summary

Sprague Resources Acquires Kildair Service

On December 15, 2014, Sprague Resources LP acquired oil/gas exploration company Kildair Service Ltd. from Sprague Canadian Properties LLC for 175M USD

Acquisition Highlights
  • This is Sprague Resources’ 2nd transaction in the Oil/Gas Exploration sector.
  • This is Sprague Resources’ 1st largest (disclosed) transaction.
  • This is Sprague Resources’ 1st transaction in Canada.
  • This is Sprague Resources’ 1st transaction in Quebec.

M&A Deal Summary

Date 2014-12-15
Target Kildair Service Ltd.
Sector Oil/Gas Exploration
Buyer(s) Sprague Resources LP
Sellers(s) Sprague Canadian Properties LLC
Deal Type Divestiture
Deal Value 175M USD

Target

Kildair Service Ltd.

St-Paul de Joliette, Quebec, Canada
website
Kildair Service Ltd. is a provider of residual fuel both locally and for export, marketing of asphalt including polymer modified grades and crude-by-rail handling services.

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Buyer(S) 1

Buyer

Sprague Resources LP

Portsmouth, New Hampshire, United States

website


Category Company
Founded 1870
SectorEnergy Services and Equipment
Employees765
Revenue 2.3B USD (2020)
DESCRIPTION

Sprague is a master limited partnership engaged in the purchase, storage, distribution, and sale of refined petroleum products and natural gas. Sprague also provides storage and handling services for a broad range of materials. Sprague was founded in 1870 and is based in Portsmouth, New Hampshire.


DEAL STATS #
Overall 2 of 5
Sector (Oil/Gas Exploration) 2 of 2
Type (Divestiture) 1 of 4
State (Quebec) 1 of 1
Country (Canada) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-04 Castle Oil Corp - Port Morris Terminal

Bronx, New York, United States

Port Morris Terminal and related refined products distribution business located in the Bronx, New York

Buy $56M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-03 Global Partners LP - Natural Gas and Electricity Business

Waltham, Massachusetts, United States

Global Partners LP - Natural Gas and Electricity Business serve approximately 4,000 commercial, industrial, municipal and institutional customer locations across New York, New Jersey, Massachusetts, Rhode Island, New Hampshire and Maine.

Buy $17M

Seller(S) 1

SELLER

Sprague Canadian Properties LLC

Portsmouth, New Hampshire, United States

Category Company
Founded 2013
SectorOil/Gas Exploration
DESCRIPTION

Sprague Canadian Properties LLC is a provider of oil and gas exploration services.


DEAL STATS #
Overall 1 of 1
Sector (Oil/Gas Exploration) 1 of 1
Type (Divestiture) 1 of 1
State (Quebec) 1 of 1
Country (Canada) 1 of 1
Year (2014) 1 of 1
Size (of disclosed) 1 of 1