M&A Deal Summary

KKR and Pembina Acquire Pembina Gas Infrastructure

On March 1, 2022, private equity firm KKR and Pembina acquired oil/gas exploration company Pembina Gas Infrastructure

Acquisition Highlights
  • This is KKR’s 9th and Pembina’s 1st transaction in the Oil/Gas Exploration sector.
  • This is KKR’s 10th and Pembina’s 3rd transaction in Canada.
  • This is KKR’s 4th and Pembina’s 3rd transaction in Alberta.

M&A Deal Summary

Date 2022-03-01
Target Pembina Gas Infrastructure
Sector Oil/Gas Exploration
Buyer(s) KKR
Pembina
Deal Type Joint Venture

Target

Pembina Gas Infrastructure

Calgary, Alberta, Canada
Pembina Gas Infrastructure is a gas processing entity in Western Canada. Pembina Gas Infrastructure was formed in 2022 and is based in Calgary, Alberta.

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Buyer(S) 2

Buyer

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 423 of 499
Sector: Oil/Gas Exploration M&A 9 of 10
Type: Joint Venture M&A Deals 6 of 7
State: Alberta M&A 4 of 5
Country: Canada M&A 10 of 12
Year: 2022 M&A 3 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 Veresen Midstream

Calgary, Alberta, Canada

Veresen Midstream is an independent natural gas gathering and processing business in Western Canada. Veresen Midstream was founded in 2014 and is based in Calgary, Alberta.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-10 +Simple

Marseille, France

+Simple provides self-employed professionals and SMEs with a digital insurance broker that simplifies the underwriting of business insurance. Its founding mission is to facilitate all insurance procedures for professionals by providing them with a one-stop shop, supported by its insurance partners. +Simple was founded in 2015 and is based in Marseille, France.

Buy -
Buyer

Pembina

Calgary, Alberta, Canada

Category Company
Founded 1954
Sector Energy Services and Equipment
Employees2,997
Revenue 7.4B CAD (2024)
DESCRIPTION

Pembina owns and operates an integrated system pipelines that transport various products derived from natural gas and hydrocarbon liquids produced in western Canada and North Dakota. Pembina was founded in 1954 and is based in Calgary, Alberta.


DEAL STATS #
Overall 4 of 4
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Joint Venture M&A Deals 1 of 1
State: Alberta M&A 3 of 3
Country: Canada M&A 3 of 3
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-21 Kinder Morgan Canada

Calgary, Alberta, Canada

Kinder Morgan Canada Ltd. operates as an energy infrastructure company. Kinder Morgan Canada owns and manages pipelines that transport natural gas, gasoline, crude oil, and carbon dioxide. Kinder Morgan also operates terminals that store and handle petroleum products and chemicals.

Buy CA$4.4B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2025-05-05 Pembina s Western Pipeline System

Taylor, British Columbia, Canada

Pembina's Western Pipeline System is an approximately 377 km crude oil pipeline. Pembina's Western Pipeline System is based in Taylor, British Columbia.

Sell $1M