M&A Deal Summary

E.ON Acquires Caledonia Oil & Gas

On September 26, 2005, E.ON acquired oil/gas exploration company Caledonia Oil & Gas from First Reserve and aPriori Capital Partners for 846M USD

Acquisition Highlights
  • This is E.ON’s 1st transaction in the Oil/Gas Exploration sector.
  • This is E.ON’s largest (disclosed) transaction.
  • This is E.ON’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2005-09-26
Target Caledonia Oil & Gas
Sector Oil/Gas Exploration
Buyer(s) E.ON
Sellers(s) First Reserve
aPriori Capital Partners
Deal Type Add-on Acquisition
Deal Value 846M USD

Target

Caledonia Oil & Gas

London, United Kingdom
Caledonia was a U.K. based natural gas company focused on the acquisition, operation and exploitation of producing natural gas fields and transportation systems located in the Southern Gas Basin of the North Sea.

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Buyer(S) 1

Buyer

E.ON

Essen, Germany
Category Company
Founded 1923
Sector Energy Services and Equipment
Employees65,515
Revenue 93.7B EUR (2023)
DESCRIPTION

E.ON will focus on renewables, distribution networks, and customer solutions. Its conventional generation, global energy trading, and exploration and production businesses will be combined in a new, independent company. E.ON was founded in 1923 and is based in Essen, Germany.

DEAL STATS #
Overall 2 of 7
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 1 of 5
Country (United Kingdom) 1 of 1
Year (2005) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2002-01-01 Wasserkraftnutzung im Landkreis Gifhorn

Germany

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-02-01 Swedegas AB

Gothenburg, Sweden

Swedegas AB owns and operates the gas grid in Sweden. The gas grid supplies natural gas to 33 municipal areas and several combined heat and power plants.

Sell -

Seller(S) 2

SELLER

First Reserve

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1983
PE ASSETS 32.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

First Reserve is a specialist private equity firm focused on investments in energy companies. First Reserve targets equity investments of $50 to $500 million in companies valued from $100 million to $10 billion. Target areas of interest within the energy industry include energy manufacturing and services (drilling service providers and wellhead equipment manufacturers), energy infrastructure, energy reserves, renewable energy and alternative fuels, and energy related insurance and financial products. First Reserve was established in 1983 and is based in Stamford, Connecticut.

DEAL STATS #
Overall 9 of 57
Sector (Oil/Gas Exploration) 3 of 15
Type (Add-on Acquisition) 4 of 19
Country (United Kingdom) 1 of 4
Year (2005) 2 of 5
Size (of disclosed) 9 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-04 Dresser-Rand

Houston, Texas, United States

Dresser-Rand is a supplier of infrastructure equipment, including compressors, turbines and engines, as well as related after-market parts and services, to the global energy industry. Dresser-Rand is based in Houston, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-01 New World Resources

Amsterdam, Netherlands

New World Resources Plc ('NWR' or the 'Company') is one of Central Europe's leading hard coal and coke producers. The Company produces quality coking and thermal coal for the steel and energy sectors in Central Europe through its subsidiary OKD, a.s. ('OKD'), the largest hard coal mining company in the Czech Republic. NWR's coke subsidiary, OKK Koksovny, a.s. ('OKK') is Europe's largest producer of foundry coke.

Buy -
SELLER

aPriori Capital Partners

Investor Investor Investor

Category Private Equity Firm
Founded 1985
PE ASSETS 2.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

aPriori Capital Partners (formerly DLJ Merchant Banking Partners) is a middle-market private equity firm focused on middle-market buyouts in the US and Europe. Sectors of interest include healthcare, retail, consumer, energy, business services, and industrial. aPriori was originally established in 1985 and has offices in New York and Los Angeles.

DEAL STATS #
Overall 15 of 51
Sector (Oil/Gas Exploration) 2 of 6
Type (Add-on Acquisition) 7 of 22
Country (United Kingdom) 1 of 5
Year (2005) 6 of 8
Size (of disclosed) 13 of 21
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2005-08-17 Rockwood Holdings

Princeton, New Jersey, United States

Rockwood Holdings, Inc. is a provider of specialty chemicals, pigments, additives and advanced materials to specialized manufacturing and technology companies throughout the world. The company is a global producer for many of its products including lithium compounds and chemicals, surface treatment chemicals, TiO2 pigments for synthetic fibers and ceramic hip joints.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2005-10-09 The Gala Group

Nottingham, United Kingdom

The Gala Group is a provider of bingo and casino operations in the UK.

Buy -
Mergr

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