M&A Deal Summary

Kayne Anderson Capital Advisors, Lime Rock Partners and GCP Capital Partners Acquire Augustus Energy Partners

On September 1, 2006, asset manager Kayne Anderson Capital Advisors, private equity firm Lime Rock Partners and merchant bank GCP Capital Partners acquired oil/gas exploration company Augustus Energy Partners

Acquisition Highlights
  • This is Kayne Anderson Capital Advisors’ 26th, Lime Rock Partners’ 10th and GCP Capital Partners’ 6th transaction in the Oil/Gas Exploration sector.
  • This is Kayne Anderson Capital Advisors’ 25th, Lime Rock Partners’ 13th and GCP Capital Partners’ 14th transaction in the United States.
  • This is Kayne Anderson Capital Advisors’ 1st, Lime Rock Partners’ 2nd and GCP Capital Partners’ 2nd transaction in Montana.

M&A Deal Summary

Date 2006-09-01
Target Augustus Energy Partners
Sector Oil/Gas Exploration
Buyer(s) Kayne Anderson Capital Advisors
Lime Rock Partners
GCP Capital Partners
Deal Type Buyout (LBO, MBO, MBI)

Target

Augustus Energy Partners

Billings, Montana, United States
Augustus Energy Partners, LLC is a private exploration and production company based in Billings, Montana that focuses on the acquisition of oil and gas properties in the Rocky Mountain, Mid-Continent and Gulf Coast regions.

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Buyer(S) 3

Buyer

Kayne Anderson Capital Advisors

Los Angeles, California, United States

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 1984
PE ASSETS 36.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kayne Anderson Capital Advisors is an alternative investment management firm focused on hedge funds, public funds, energy private equity, growth private equity, real estate private equity, and mezzanine finance opportunities. Kayne's energy private equity group focuses on $20 to $100 million investments in high-growth exploration and production, midstream and oilfield service companies. The energy group considers both majority or minority stakes in public and private businesses. Kayne's growth private equity practice involves structured investments in public and private companies looking for capital to finance expansion. This group will also consider middle-market leveraged transactions and management buyouts. Kayne's real estate private equity group invests in established, cash-flow generating projects. Areas of interest include student housing and campus-oriented retail properties, amongst other opportunistic investments. The Group looks for acquisitions of $25 to $100 million. Kayne's mezzanine team looks to provide $20 to $35 million of capital for mid-market businesses with $100 to $500 million of sales and $10 to $50 million of EBITDA. Kayne Capital Advisors was formed in 1984 and is based in Los Angeles with additional offices in Armonk, New York; New York City, and Houston.


DEAL STATS #
Overall 30 of 178
Sector: Oil/Gas Exploration M&A 26 of 105
Type: Buyout (LBO, MBO, MBI) M&A Deals 25 of 65
State: Montana M&A 1 of 1
Country: United States M&A 25 of 161
Year: 2006 M&A 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-01 Caddo Resources

Dallas, Texas, United States

Caddo Resources is a private exploration and production company based in Dallas, Texas that focuses on drilling and developing oil and gas properties in North Louisiana.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-01 Winter Ridge Energy

Denver, Colorado, United States

Winter Ridge Energy is a private exploration and production company based in Denver, Colorado that focuses on the acquisition and development of oil and gas properties in the Rocky Mountain region and California.

Buy -
Buyer

Lime Rock Partners

Westport, Connecticut, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 10.4B USD
Size Mega
Type Sector Focused
DESCRIPTION

Lime Rock Partners is a private investment firm focused on growth capital investments in the energy industry. Specifically, Lime Rock looks for companies engaged in exploration & production, energy service, and oil service technology in North America and Europe. Lime Rock's target investment size is $50 to $150 million in businesses valued up to $500 million. Lime Rock Partners was formed in 1998 and is affiliated with Lime Rock Resources. Lime Rock Partners has offices in Westport, Connecticut; Aberdeen, Scotland; and Houston, Texas.


DEAL STATS #
Overall 30 of 92
Sector: Oil/Gas Exploration M&A 10 of 40
Type: Buyout (LBO, MBO, MBI) M&A Deals 21 of 58
State: Montana M&A 2 of 3
Country: United States M&A 13 of 51
Year: 2006 M&A 5 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-07-01 BRIDGE Energy Group

Marlborough, Massachusetts, United States

BRIDGE Energy Group, Inc. is a provider of operational technology (OT), Information technology (IT) and domain consulting and systems integration expertise to improve their grid reliability, work, and asset management and customer operations. BRIDGE Energy Group was founded in 2004 and is based in Marlborough, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-11-01 Acteon

Norwich, United Kingdom

Acteon is a global oilfield services provider focusing on the provision of subsea services and products. Acteon was founded in 1989 and is based in Norwich, United Kingdom.

Sell -
Buyer

GCP Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Merchant Bank
Founded 2000
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GCP Capital Partners consists of GCP US, GCP Europe, and GCP Venture. GCP US targets North American acquisitions. The unit looks to invest $10 to $50 million in businesses valued up to $500 million. GCP Europe targets businesses in the UK and Europe. The European team looks to invest up to £40 million in companies valued up to £100 million. Sectors of interest include business services, education, energy, financial services, insurance and telecommunications.


DEAL STATS #
Overall 15 of 45
Sector: Oil/Gas Exploration M&A 6 of 11
Type: Buyout (LBO, MBO, MBI) M&A Deals 9 of 22
State: Montana M&A 2 of 2
Country: United States M&A 14 of 43
Year: 2006 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-02-06 U.S. Exploration Holdings

Billings, Montana, United States

U.S. Exploration Holdings, Inc. is an oil and gas producing company with operations focused on developing natural gas reserves in the Denver-Julesburg basin of Colorado.

Sell $411M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2006-09-02 EXCO

Dallas, Texas, United States

EXCO is an oil and natural gas company engaged in the exploitation, exploration, acquisition, development and production of onshore U.S. oil and natural gas properties with a focus on shale resource plays. EXCO based in Dallas, Texas.

Sell -