M&A Deal Summary

HitecVision, TotalEnergies and Repsol Acquire Neo Next+

On July 1, 2019, private equity firm HitecVision, TotalEnergies and Repsol acquired oil/gas exploration company Neo Next+

Acquisition Highlights
  • This is HitecVision’s 13th, TotalEnergies’ 3rd and Repsol’s 3rd transaction in the Oil/Gas Exploration sector.
  • This is HitecVision’s 6th, TotalEnergies’ 1st and Repsol’s 2nd transaction in the United Kingdom.

M&A Deal Summary

Date 2019-07-01
Target Neo Next+
Sector Oil/Gas Exploration
Buyer(s) HitecVision
TotalEnergies
Repsol
Deal Type Buyout (LBO, MBO, MBI)

Target

Neo Next+

Aberdeen, United Kingdom
Neo Next+ manages a portfolio of oil and gas assets, and also coordinates decommissioning programmes for mature fields, indicating the firm handles full-cycle upstream operations, including production, maintenance, and decommissioning. NEO Energy was founded in 2019 and is based in Aberdeen, United Kingdom.

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Buyer(S) 3

Buyer

HitecVision

Stavanger, Norway

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1985
PE ASSETS 8.0B EUR
Size Mega
Type Sector Agnostic
DESCRIPTION

HitecVision is a private equity firm specializing in buyouts and growth capital investments in the oil and gas industry. The Firm targets investments in middle-market companies throughout North America (primarily US) and Northern Europe (primarily Norway and the UK). HitecVision seeks companies with growth potential and unique technologies. The Firm looks to invest €150 to €500 million in companies. Specific areas of interest include drilling/down-hole, exploration/production, field development, mid- and downstream, and subsurface. HitecVision was formed in 1985 and is based in Stavanger. The Firm has additional offices in Oslo and Texas.


DEAL STATS #
Overall 56 of 64
Sector: Oil/Gas Exploration M&A 13 of 13
Type: Buyout (LBO, MBO, MBI) M&A Deals 37 of 38
Country: United Kingdom M&A 6 of 6
Year: 2019 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-23 CapeOmega

Bergen, Norway

CapeOmega is an offshore infrastructure platform. The company provides the essential infrastructure for the transportation of natural gas produced on the norwegian continental shelf and holds significant stakes in some of norway's key midstream infrastructure assets. CapeOmega was founded in 2014 and is based in Bergen, Norway.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-15 Energy Drilling

Singapore, Singapore

Energy Drilling is a tender drilling company offering cost-effective solutions to the offshore drilling market. Energy Drilling was founded in 2012 and is based in Singapore.

Sell -
Buyer

TotalEnergies

Courbevoie, France

Category Company
Founded 1924
Sector Oil/Gas Exploration
Employees62,796
Revenue 195.6B USD (2024)
DESCRIPTION

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables, and electricity. TotalEnergies was founded in 1924 and is based in Courbevoie, France.


DEAL STATS #
Overall 13 of 26
Sector: Oil/Gas Exploration M&A 3 of 8
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
Country: United Kingdom M&A 1 of 2
Year: 2019 M&A 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-01 Toshiba America LNG

Houston, Texas, United States

Toshiba America LNG Corp. exists to satisfy social needs of sustainability and energy demand by supplying LNG to customers and is responsible for coordinating and assembling the necessary infrastructure chain to produce U.S. LNG which can then be marketed by the broader Toshiba group to key focus geographies such as Latin America and the Caribbean.

Buy $15M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-10 Total S.A. - UK non-core Assets

United Kingdom

Total S.A. - UK non-core Assets is an oil and gas producer.

Sell $635M
Buyer

Repsol

Madrid, Spain

Category Company
Founded 1927
Sector Oil/Gas Exploration
Employees26,267
Revenue 57.1B EUR (2024)
DESCRIPTION

Repsol operates as a multi-energy company worldwide. Its Upstream segment engages in the exploration, development, and production of crude oil and natural gas reserves, as well as the development of low-carbon geological solutions. Repsol was founded in 1927 and is based in Madrid, Spain.


DEAL STATS #
Overall 4 of 8
Sector: Oil/Gas Exploration M&A 3 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
Country: United Kingdom M&A 2 of 2
Year: 2019 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-09-12 Naturgy

Madrid, Spain

Naturgy is an energy infrastructure company that operates across the gas value chain from procurement to liquefaction, storage, regasification, transportation, distribution, and marketing. Naturgy also owns and operates gas distribution networks in Latin America with leading market shares in Brazil, Chile, Colombia, and Mexico. Naturgy was founded in 1843 and is based in Madrid, Spain.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-08 Klikin Deals Spain SL

Madrid, Spain

Klikin is a digital ordering, booking, payment, and loyalty platform for businesses, especially in the food and drink industry. The company offers innovative loyalty solutions with a complete customer management system to help businesses increase their profits through the acquisition and loyalty of their customers. Klikin was formed in 2012 and is based in Madrid, Spain.

Buy -