M&A Deal Summary

The Blackstone Group, Warburg Pincus, Camcor Partners and Azimuth Capital Management Acquire Osum Oil Sands

On August 21, 2008, private equity firms The Blackstone Group, Warburg Pincus, Camcor Partners and Azimuth Capital Management acquired oil/gas exploration company Osum Oil Sands for 275M CAD

Acquisition Highlights
  • This is The Blackstone Group’s 3rd, Warburg Pincus’ 10th, Camcor Partners’ 1st and Azimuth Capital Management’s 9th transaction in the Oil/Gas Exploration sector.
  • This is The Blackstone Group’s 149th, Warburg Pincus’ 33rd, Camcor Partners’ 0th and Azimuth Capital Management’s largest (disclosed) transaction.
  • This is The Blackstone Group’s 2nd, Warburg Pincus’ 3rd, Camcor Partners’ 1st and Azimuth Capital Management’s 7th transaction in Canada.
  • This is The Blackstone Group’s 1st, Warburg Pincus’ 3rd, Camcor Partners’ 1st and Azimuth Capital Management’s 7th transaction in Alberta.

M&A Deal Summary

Date 2008-08-21
Target Osum Oil Sands
Sector Oil/Gas Exploration
Buyer(s) The Blackstone Group
Warburg Pincus
Camcor Partners
Azimuth Capital Management
Deal Type Buyout (LBO, MBO, MBI)
Deal Value 275M CAD
Advisor(s) McCarthy Tétrault (Legal)

Target

Osum Oil Sands

Calgary, Alberta, Canada
Osum Oil Sands Corp is a privately-held company focused on bitumen extraction. Osum is positioned in the thermal trend of the Cold Lake oil sands region of Canada, where a substantial majority of the country’s current “in situ” bitumen is produced. Osum Oil Sands was founded in 2006 and is based in Calgary, Alberta.

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Buyer(S) 4

Buyer

The Blackstone Group

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 131.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Blackstone Group is a global alternative investment management firm. The Firm's investment activities span real estate, secondary investments, hedge funds, credit, infrastructure, and private equity. Blackstone's private equity group targets opportunities globally including buyout acquisitions of established companies, development projects, growth equity financings, and industry consolidations. Sectors of interest include automotive, healthcare, chemicals, industrial, commercial property, lodging, communications, media/publishing, consumer & retail, packaging, consumer products, pharmaceuticals, energy, technology, entertainment, telecommunications, financial services, theme parks, food & beverage, and transportation. Blackstone's private equity real estate group looks for opportunities across North/South America, Asia, Australia/New Zealand, and Europe. The real estate group will consider both equity and debt investments. Areas of interest include healthcare, hotel, industrial, office, residential, and retail. The Blackstone Group was formed in 1987 and is based in New York City.


DEAL STATS #
Overall 130 of 336
Sector (Oil/Gas Exploration) 3 of 8
Type (Buyout (LBO, MBO, MBI)) 46 of 76
State (Alberta) 1 of 1
Country (Canada) 2 of 7
Year (2008) 11 of 14
Size (of disclosed) 149 of 172
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-01 Cheniere Energy

Houston, Texas, United States

Cheniere Energy is an energy company that primarily engages in the development, construction, ownership, and operation of onshore liquefied natural gas (LNG) receiving terminals and natural gas pipelines along the Gulf Coast of the United States. Cheniere Energy was founded in 1983 and is based in Houston, Texas.

Buy $250M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-06 China National BlueStar

Beijing, China

China National BlueStar is a Chinese specialty chemicals company focused on manufacturing plants and its marketing network covers over 140 countries. China National Bluestar is based in Beijing.

Buy -
Buyer

Warburg Pincus

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1966
PE ASSETS 83.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Warburg Pincus is a mega-sized, global private equity firm focused on investment opportunities across North America, Asia, and Europe. Warburg will consider investing at various company stages, from early-stage opportunities to distressed situations. Warburg Pincus is organized by industry groups. Verticals include financial services, healthcare, technology, media & telecommunications, energy, consumer & industrial, and real estate. Within financial services, Warburg will consider asset/wealth managers, banks, exchanges, financial technology, insurance, transaction processing, private banking, and specialty/consumer finance. Within healthcare, specific areas of interest include medical devices, healthcare services, and biotech/pharmaceuticals. Within technology/media/communications, Warburg targets software, media/internet/information, financial technology, telecom, business services, and systems/semiconductors. Within energy, specific areas of interest include oil/gas exploration, power generation/transmission, and alternative energy. Warburg Pincus raised its first fund in 1966 and is based in New York City.


DEAL STATS #
Overall 139 of 482
Sector (Oil/Gas Exploration) 10 of 40
Type (Buyout (LBO, MBO, MBI)) 47 of 86
State (Alberta) 3 of 10
Country (Canada) 3 of 17
Year (2008) 13 of 15
Size (of disclosed) 33 of 47
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-07-21 WuXi AppTec

Shanghai, China

WuXi AppTec is a provider of pharmaceutical, biotechnology, and medical device companies with a broad and integrated portfolio of laboratory and manufacturing services throughout the drug and medical device R&D process. WuXi AppTec was founded in 2000 and is based in Shanghai, China.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-09-01 RCS Group

Shanghai, China

RCS Group is a quick service restaurant chain operator in China, with exclusive franchisee rights from U.S. restaurant brands Papa John's Pizza and Dairy Queen's Ice Cream to operate in 19 provinces in China. The company currently operates the second largest pizza restaurant chain in China with over 140 Papa John's Pizza stores and the largest ice cream restaurant chain in China with more than 130 Dairy Queen stores.

Buy -
Buyer

Camcor Partners

Calgary, Alberta, Canada

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1997
PE ASSETS 1.0B CAD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Camcor Partners is an independent private equity group focused on Canadian hydrocarbon-based energy companies. The Firm looks to build a portfolio of companies with direct hydrocarbon exposure. Camcor was formed in 1997 and is based in Calgary.


DEAL STATS #
Overall 1 of 4
Sector (Oil/Gas Exploration) 1 of 4
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Alberta) 1 of 4
Country (Canada) 1 of 4
Year (2008) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-04 Beringer Energy

Calgary, Alberta, Canada

Beringer Energy, Inc. is an oil and gas exploration and production company with a focus on light oil and liquids-rich gas prospects in Canada.

Buy -
Buyer

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 9 of 20
Sector (Oil/Gas Exploration) 9 of 16
Type (Buyout (LBO, MBO, MBI)) 6 of 7
State (Alberta) 7 of 15
Country (Canada) 7 of 15
Year (2008) 2 of 3
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Seven Generations Energy

Calgary, Alberta, Canada

Seven Generations Energy is a private oil and gas company focused on resource plays in North America, including shale gas, tight gas, tight oil, and oil sands. Seven Generations Energy was founded in 2008 and is based in Calgary, Alberta.

Buy $300M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-02 Ausra

Palo Alto, California, United States

Ausra, Inc. is a designing, manufacturing, installing and operation of utility-scale solar thermal power systems around the world. It also provides solar thermal electric power stations and zero-carbon power plants that provide large scale low cost, reliable, renewable energy to generate electricity.

Buy -