M&A Deal Summary

Crescent Point Energy Acquires Legacy Oil + Gas

On June 30, 2015, Crescent Point Energy acquired oil/gas exploration company Legacy Oil + Gas from Lex Capital Management and PFM Capital for 1.5B CAD

Acquisition Highlights
  • This is Crescent Point Energy’s 14th transaction in the Oil/Gas Exploration sector.
  • This is Crescent Point Energy’s 0th largest (disclosed) transaction.
  • This is Crescent Point Energy’s 14th transaction in Canada.
  • This is Crescent Point Energy’s 11th transaction in Alberta.

M&A Deal Summary
Date 2015-06-30
Target Legacy Oil + Gas
Sector Oil/Gas Exploration
Buyer(s) Crescent Point Energy
Sellers(s) Lex Capital Management
PFM Capital
Deal Type Add-on Acquisition
Deal Value 1.5B CAD
Advisor(s) McCarthy Tétrault (Legal)

Target

Legacy Oil + Gas

Calgary, Alberta, Canada
Legacy Oil + Gas, Inc. is a light oil-weighted producer with approximately 22,000 boe/d of high-netback production, of which more than 15,000 boe/d is from conventional and unconventional plays in Crescent Point’s core southeast Saskatchewan, Manitoba and North Dakota areas.

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Buyer(S) 1

Buyer

Crescent Point Energy

Calgary, Alberta, Canada
Category Company
Sector Oil/Gas Exploration
Employees781
DESCRIPTION

Crescent Point Energy Corp. is a oil and gas producer with assets strategically focused in properties comprised of high-quality, long-life, operated light and medium crude oil and natural gas reserves in western Canada.

DEAL STATS #
Overall 15 of 16
Sector (Oil/Gas Exploration) 14 of 15
Type (Add-on Acquisition) 14 of 14
State (Alberta) 11 of 11
Country (Canada) 14 of 14
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-13 T.Bird Oil

Estevan, Canada

Buy $88M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-20 Crescent Point Energy - Natural Gas Infrastructure Assets

Saskatchewan, Canada

Crescent Point Energy Corp. - Natural Gas Infrastructure Assets comprises certain associated natural gas gathering, processing, and sales infrastructure assets in Saskatchewan.

Sell $500M

Seller(S) 2

SELLER

Lex Capital Management

Regina, Saskatchewan, Canada

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 290M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Lex Capital Management is a private equity group focused on on early- to mid-stage companies seeking growth or acquisition capital in the energy, value-added agriculture and manufacturing and processing sectors. Lex looks to invest $1 to $5 million per transaction and generally targets opportunities in Western Canada. Lex Capital was formed in 2009 and is based in Regina, Saskatchewan.

DEAL STATS #
Overall 2 of 2
Sector (Oil/Gas Exploration) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Alberta) 1 of 1
Country (Canada) 2 of 2
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-17 Villanova Oil

Regina, Saskatchewan, Canada

Villanova Oil Corp is a private junior oil and gas company, with a focus on the exploration and development of light oil prospects in southeast Saskatchewan.

Sell $127M
SELLER

PFM Capital

Regina, Saskatchewan, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.1B CAD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PFM Capital is a private equity firm focused on investing in Western Canada with an emphasis on opportunities in Saskatchewan. PFM targets small and medium sized companies and will invest across the capital structure. Areas of interest include agriculture, oil/gas, manufacturing, and real estate. PFM looks to invest $5 to $25 million per transaction. PFM was formed in 1989 and has been investing since 1993. PFM Capital is based in Regina, Saskatchewan.

DEAL STATS #
Overall 5 of 8
Sector (Oil/Gas Exploration) 4 of 6
Type (Add-on Acquisition) 3 of 6
State (Alberta) 3 of 5
Country (Canada) 5 of 8
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-01 Prairie Soil Services

Norquay, Saskatchewan, Canada

Prairie Soil Services is a biotechnology company with Canadian and US facilities dedicated to the principle of manufacturing pharmaceuticals derived from harvestable plants grown in biosecure GMP production facilities. Prairie Soil Services was founded in 1988 and is based in Norquay, Saskatchewan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-31 Stampede Drilling

Estevan, Saskatchewan, Canada

Stampede Drilling Ltd. is a private corporation which owns 3 heavy telescopic double drilling rigs in the Weyburn/Estevan area of southeast Saskatchewan. The goal of Stampede Drilling is to provide the safest and most efficient drilling services in Southeast Saskatchewan. Advanced technology and experienced field staff provide the foundation for Stampede Drilling to be a leader in reliable drilling services.

Sell -
Mergr

Product

Company

Legal