Divestiture • Business Services

Energy Arbitrage Partners Acquires Phibro

On January 26, 2016, search fund Energy Arbitrage Partners acquired business services company Phibro from Occidental Petroleum

Acquisition Context
  • This is Energy Arbitrage Partners’ 1st transaction in the Business Services sector.
  • This is Energy Arbitrage Partners’ 1st transaction in the United States.
  • This is Energy Arbitrage Partners’ 1st transaction in Connecticut.

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M&A Deal Summary

Date January 26, 2016
Target Phibro
Sector Business Services
Buyer(s) Energy Arbitrage Partners
Sellers(s) Occidental Petroleum
Deal Type Divestiture

Target Company

Phibro

Westport, Connecticut, United States
Phibro LLC is an international commodity trading firm focused on asset acquisition, project development, and trading. Its principals have deep expertise across commodities including oil and oil products, natural gas, natural gas liquids (NGL), electricity, renewable fuels, fertilizer, and coal. Phibro was founded in 1901 and is based in Westport, Connecticut.
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Buyer Overview 1

DESCRIPTION

Energy Arbitrage Partners is a partnership focused on commodity investments. Energy Arbitrage Partners engages in the development of businesses that include projects in natural gas liquids, fertilizer and petrochemicals, energy exploration and production, renewable fuels, and power generation. Energy Arbitrage Partners was formed in 2015 and is based in New York City.


Deal Context for Buyer #
Overall 1 of 1
Sector: Business Services 1 of 1
Type: Divestiture 1 of 1
State: Connecticut 1 of 1
Country: United States 1 of 1
Year: 2016 1 of 1

Seller Profile 1

SELLER

Occidental Petroleum

Houston, Texas, United States

Category Company
Founded 1920
Sector Oil/Gas Exploration
Employees11,800
Revenue 26.7B USD (2024)
DESCRIPTION

Occidental Petroleum is an oil and gas exploration and production company that provides applying advanced technology to boost production and access hard-to-recover reserves. Occidental Petroleum was founded in 1920 and is based in Houston, Texas.


Deal Context for Seller #
Overall 2 of 7
Sector: Business Services 1 of 1
Type: Divestiture 1 of 6
State: Connecticut 1 of 1
Country: United States 2 of 6
Year: 2016 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-11-30 California Resources

Long Beach, California, United States

California Resources Corporation (CRC) is an independent energy and carbon management company. CRC operates exclusively within California, holding the state's largest private oil and gas reserves, including the Elk Hills Oil Field in the San Joaquin Basin. The company is actively advancing carbon capture and storage initiatives through its Carbon TerraVault business. California Resources Corporation was formed in 2014 and is based in Long Beach, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-08 Occidental Petroleum - Oxy Ingleside Energy Center

Ingleside, Texas, United States

Occidental Petroleum Corp. - Oxy Ingleside Energy Center is a storage and export terminalthat provides access to global markets for crudeoil and LPG producers and marketers. IEC has approximately 2.1 million barrels of oil storage capacity and three deep-water berths for crude oil.

Sell -