M&A Deal Summary

EIG Partners and Metalmark Capital Acquire Northeast Natural Energy

On February 1, 2010, asset manager EIG Partners and private equity firm Metalmark Capital acquired oil/gas exploration company Northeast Natural Energy

Acquisition Highlights
  • This is EIG Partners’ 3rd and Metalmark Capital’s 9th transaction in the Oil/Gas Exploration sector.
  • This is EIG Partners’ 4th and Metalmark Capital’s 43rd transaction in the United States.
  • This is EIG Partners’ 1st and Metalmark Capital’s 2nd transaction in West Virginia.

M&A Deal Summary

Date 2010-02-01
Target Northeast Natural Energy
Sector Oil/Gas Exploration
Buyer(s) EIG Partners
Metalmark Capital
Deal Type Buyout (LBO, MBO, MBI)

Target

Northeast Natural Energy

Charleston, West Virginia, United States
Northeast Natural Energy is a private oil and gas company focused on the acquisition and development of natural gas reserves within the Appalachian Basin. Northeast Natural Energy was founded in 2009 and is headquartered in Charleston, West Virginia.

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Buyer(S) 2

Buyer

EIG Partners

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1982
PE ASSETS 39.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

EIG Global Energy Partners specializes in private investments in energy and energy-related infrastructure around the world. Specific areas of interest include upstream oil and gas, midstream, power generation, renewables, and related infrastructure. EIG manages a variety of funds that provide hybrid debt and structured equity financing solutions to energy projects and companies. The Firm also offers credit/direct lending vehicles that target higher credit-quality project finance instruments. EIG Global Energy Partners is headquartered in Washington, District of Columbia.


DEAL STATS #
Overall 4 of 55
Sector (Oil/Gas Exploration) 3 of 21
Type (Buyout (LBO, MBO, MBI)) 2 of 28
State (West Virginia) 1 of 1
Country (United States) 4 of 34
Year (2010) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-07 Southcross Energy

Dallas, Texas, United States

Southcross Energy is a midstream natural gas company engaged in the gathering, processing and pipeline transportation of natural gas, with a total of more than 2,100 miles of pipeline assets. Southcross Energy is based in Dallas, Texas.

Buy $220M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-05-26 Greenfield Energy Centre

Toronto, Ontario, Canada

Greenfield Energy Centre is a natural gas-fired combined-cycle electric generating facility with a capacity of approximately 300 MW located in St. Clair Township, Ontario.

Buy -
Buyer

Metalmark Capital

New York, New York, United States

Category Private Equity Firm
Founded 2004
PE ASSETS 8.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Metalmark Capital is an independent private equity group focused on large company transactions in a wide range of industries. Metalmark is a hands-on investment firm looking to build long-term value in its portfolio companies. Broad areas of interest include natural resources/energy, healthcare services, industrials, food, transportation, and financial services. Metalmark was established in 2004 by the former principals of Morgan Stanley Capital Partners to manage the Metalmark Capital and Morgan Stanley Capital Partners funds. Metalmark is based in New York City.


DEAL STATS #
Overall 44 of 60
Sector (Oil/Gas Exploration) 9 of 11
Type (Buyout (LBO, MBO, MBI)) 21 of 24
State (West Virginia) 2 of 2
Country (United States) 43 of 56
Year (2010) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-12-01 Jones Energy

Austin, Texas, United States

Jones Energy, Ltd. is an independent oil and gas company engaged in the development, production, and acquisition of oil and natural gas properties in the Anadarko and Arkoma basins of Texas and Oklahoma. Jones Energy was founded in 1988 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-25 Aegis

Nashville, Tennessee, United States

Aegis is a specialty toxicology laboratory that provides industry leading services to clients in the healthcare, sports, forensics, law enforcement and food production industries. The Company offers a broad range of outsourced testing services, but focuses in the pain management compliance sector. With nearly two dozen employees with PhDs, MDs, or similar advanced degrees, Aegis differentiates itself through superior science to drive more accurate test results than competitors. Aegis is based in Nashville, Tennessee.

Buy -