Investment Summary

BDC Capital and Azimuth Capital Management Invest In Recover Energy Services

On June 17, 2020, growth capital firm BDC Capital and private equity firm Azimuth Capital Management invested in oil/gas exploration company Recover Energy Services

Investment Highlights
  • This is BDC Capital’s 1st and Azimuth Capital Management’s 15th transaction in the Oil/Gas Exploration sector.
  • This is BDC Capital’s 14th and Azimuth Capital Management’s 14th transaction in Canada.
  • This is BDC Capital’s 2nd and Azimuth Capital Management’s 14th transaction in Alberta.

Investment Summary
Date 2020-06-17
Target Recover Energy Services
Sector Oil/Gas Exploration
Investor(s) BDC Capital
Azimuth Capital Management
Deal Type Growth Capital

Target

Recover Energy Services

Calgary, Alberta, Canada
Recover Energy Services is an environmental technology company with a patented process for cleaning oil-based drilling waste. The company's technology recovers base oil from drilling waste while providing a significant reduction in carbon dioxide emissions. Its Lodgepole Oilfield Waste Management Facility is approved by the Alberta Energy Regulator (AER) to accept Alberta generated oilfield waste classified as waste code DRWSHC; Drilling Waste Hydrocarbon. Recover Energy Services was formed in 2008 and is based in Calgary, Alberta.

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Investor(S) 2

Investor

BDC Capital

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Size Large
Type Sector Agnostic
DESCRIPTION

BDC Capital is the direct investment arm of financial services firm BDC. BDC Capital looks to invest in and provide financing to venture and growth-stage Canadian companies. The Firm's growth-stage investment unit looks to commit $3 to $35 million for minority positions in mid-market companies focused on growth. The Group does not have any sector preferences but does prefer to invest in profitable companies. BDC Capital is headquartered in Montreal.

DEAL STATS #
Overall 15 of 33
Sector (Oil/Gas Exploration) 1 of 1
Type (Growth Capital) 10 of 20
State (Alberta) 2 of 2
Country (Canada) 14 of 31
Year (2020) 2 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-06-01 Beehivr

Repentigny, Quebec, Canada

Beehivr has developed a platform for deploying sales assistance mobile solutions for professionals in various sectors, as well as for retailers. Beehivr is a global partner of Apple and does business with major customers in Canada, the United States, and Europe. Beehivr was formed in 2013 and is based in Repentigny, Quebec.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-08-26 Preciseley

Burnaby, British Columbia, Canada

Preciseley is a fabless designer and supplier of a range of MEMS micro-mirror products with diverse applications across optical systems, telecommunications, sensors, and other fields. Preciseley was founded in 2006 and is based in Burnaby, British Columbia.

Buy -
Investor

Azimuth Capital Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2000
PE ASSETS 3.4B USD
Size Large
Type Sector Focused
DESCRIPTION

Azimuth Capital Management is an independent Canadian private equity firm focused on the energy sector. Azimuth makes equity investments in early stage and emerging energy companies focused on resource and infrastructure development. The Firm generally invests in Canadian companies but will consider opportunities in the US as well. Azimuth Capital Management is based in Calgary.

DEAL STATS #
Overall 19 of 20
Sector (Oil/Gas Exploration) 15 of 16
Type (Growth Capital) 9 of 9
State (Alberta) 14 of 15
Country (Canada) 14 of 15
Year (2020) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-15 Karve Energy

Calgary, Alberta, Canada

Karve Energy is an oil and gas company focused on the Viking formation. Karve Energy is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-01-01 Whitecap Resources

Calgary, Alberta, Canada

Whitecap Resources is a oil-weighted company focused on providing sustainable monthly dividends to its shareholders and per share growth through a combination of accretive oil-based acquisitions and organic growth on existing and acquired assets. Whitecap Resources was incorporated in 2009 and is based in Calgary, Alberta.

Buy -
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