M&A Deal Summary

Eni Acquires Neptune Energy

On June 23, 2023, Eni acquired oil/gas exploration company Neptune Energy from The Carlyle Group and CVC Capital Partners for 2.6B USD

Acquisition Highlights
  • This is Eni’s 2nd transaction in the Oil/Gas Exploration sector.
  • This is Eni’s largest (disclosed) transaction.
  • This is Eni’s 1st transaction in the United Kingdom.

M&A Deal Summary
Date 2023-06-23
Target Neptune Energy
Sector Oil/Gas Exploration
Buyer(s) Eni
Sellers(s) The Carlyle Group
CVC Capital Partners
Deal Type Add-on Acquisition
Deal Value 2.6B USD

Target

Neptune Energy

London, United Kingdom
Neptune Energy is a new oil & gas investment vehicle offers full life-cycle capabilities across exploration, development, and production. Neptune Energy was founded in 2017 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

Eni

Rome, Italy
Category Company
Founded 1953
Sector Oil/Gas Exploration
Employees33,142
Revenue 93.7B EUR (2023)
DESCRIPTION

Eni operates in oil and gas, electricity generation and sale, petrochemicals, oilfield services construction and engineering industries. Eni was founded in 1953 and is based in Rome, Italy.

DEAL STATS #
Overall 4 of 4
Sector (Oil/Gas Exploration) 2 of 2
Type (Add-on Acquisition) 2 of 2
Country (United Kingdom) 1 of 1
Year (2023) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-11 GreenIT

San Donato Milanese, Italy

GreenIT aims to produce energy mainly from photovoltaic and wind power plants and development and construction of greenfield plants. GreenIT was founded in 2021 and is based in San Donato Milanese, Italy.

Buy -

Seller(S) 2

SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.

DEAL STATS #
Overall 468 of 480
Sector (Oil/Gas Exploration) 8 of 8
Type (Add-on Acquisition) 194 of 197
Country (United Kingdom) 35 of 36
Year (2023) 8 of 12
Size (of disclosed) 16 of 135
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-31 Meopta

Prerov, Czech Republic

Meopta develops and manufactures advanced optical and optoelectronic systems for semiconductor, medical, and industrial applications, as well as defense and sports optics with its vertically integrated platform. Meopta was founded in 1933 and is based in Prerov, Czech Republic.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-30 Anthesis Group

London, United Kingdom

Anthesis Group is a global sustainability consultancy and delivery partner providing best-in-class environmental, social and commercial sustainability strategies and solutions. Anthesis Group is based in London, United Kingdom.

Buy -
SELLER

CVC Capital Partners

Luxembourg, Luxembourg

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1981
PE ASSETS 177.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

CVC Capital Partners is a global private equity firm focused on investments in large companies located in Europe, North America, and Asia. CVC looks for opportunities with stable cash flows and talented management, and will consider businesses in a variety of industries. Target sectors include textiles, industrial products, waste management, building materials, energy/utilities, business services, financial services, distribution, healthcare, media, semiconductors, and gaming. CVC can handle transactions valued from €200 million to €10 billion. CVC Capital Partners was formed in 1981 and is based in Luxembourg.

DEAL STATS #
Overall 171 of 173
Sector (Oil/Gas Exploration) 1 of 1
Type (Add-on Acquisition) 63 of 63
Country (United Kingdom) 33 of 33
Year (2023) 1 of 2
Size (of disclosed) 7 of 54
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-20 SD Worx

Antwerp, Belgium

SD Worx delivers a full range of quality services in the areas of Payroll, HR and Tax & Legal in EMEA, the Americas and Canada, with more than 2,700 staff serving more than 60,000 clients, offering salary calculations, training, HR research, social-legal, tax and HR-related consultancy services, specialist software for personnel departments and on-site support. SD Worx was founded in 1945 and is based in Antwerp, Belgium.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-29 Fidelis Insurance

Pembroke, Bermuda

Fidelis Insurance is a provider of insurance underwriting and reinsurance services. The Company underwrites specialty lines of insurance focused on energy, marine, property, aviation, and political risk out of Bermuda and London, with a balance between insurance and reinsurance. Fidelis Insurance was founded in 2014 and is based in Pembroke, Bermuda.

Sell -
Mergr

Product

Company

Legal