M&A Deal Summary

Legacy Oil + Gas Acquires Villanova Oil

On April 17, 2013, Legacy Oil + Gas acquired oil/gas exploration company Villanova Oil from PFM Capital and Lex Capital Management for 127M USD

Acquisition Highlights
  • This is Legacy Oil + Gas’ 7th transaction in the Oil/Gas Exploration sector.
  • This is Legacy Oil + Gas’ 5th largest (disclosed) transaction.
  • This is Legacy Oil + Gas’ 5th transaction in Canada.
  • This is Legacy Oil + Gas’ 1st transaction in Saskatchewan.

M&A Deal Summary
Date 2013-04-17
Target Villanova Oil
Sector Oil/Gas Exploration
Buyer(s) Legacy Oil + Gas
Sellers(s) PFM Capital
Lex Capital Management
Deal Type Add-on Acquisition
Deal Value 127M USD
Advisor(s) National Bank Financial (Financial)

Target

Villanova Oil

Regina, Saskatchewan, Canada
Villanova Oil Corp is a private junior oil and gas company, with a focus on the exploration and development of light oil prospects in southeast Saskatchewan.

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Buyer(S) 1

Buyer

Legacy Oil + Gas

Calgary, Alberta, Canada
Category Company
Founded 2005
Sector Oil/Gas Exploration
Employees171
DESCRIPTION

Legacy Oil + Gas, Inc. is a light oil-weighted producer with approximately 22,000 boe/d of high-netback production, of which more than 15,000 boe/d is from conventional and unconventional plays in Crescent Point’s core southeast Saskatchewan, Manitoba and North Dakota areas.

DEAL STATS #
Overall 7 of 8
Sector (Oil/Gas Exploration) 7 of 8
Type (Add-on Acquisition) 7 of 8
State (Saskatchewan) 1 of 1
Country (Canada) 5 of 6
Year (2013) 1 of 1
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-05 Bowood Energy

Calgary, Alberta, United Kingdom

Bowood Energy, Inc. is a provider of oil and gas exploration services.

Buy $61M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-05-08 Highrock Energy

Calgary, Alberta, Canada

Highrock Energy Ltd. is a Saskatchewan based private light oil company engages in the exploration, development, and production of oil focused projects in Southeast Saskatchewan.

Buy $194M

Seller(S) 2

SELLER

PFM Capital

Regina, Saskatchewan, Canada

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.1B CAD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

PFM Capital is a private equity firm focused on investing in Western Canada with an emphasis on opportunities in Saskatchewan. PFM targets small and medium sized companies and will invest across the capital structure. Areas of interest include agriculture, oil/gas, manufacturing, and real estate. PFM looks to invest $5 to $25 million per transaction. PFM was formed in 1989 and has been investing since 1993. PFM Capital is based in Regina, Saskatchewan.

DEAL STATS #
Overall 1 of 8
Sector (Oil/Gas Exploration) 1 of 6
Type (Add-on Acquisition) 1 of 6
State (Saskatchewan) 1 of 3
Country (Canada) 1 of 8
Year (2013) 1 of 1
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-02-01 Centre Square Place

Regina, Saskatchewan, Canada

Centre Square Place is a sophisticated, stylish, and distinctive condominium living in downtown Regina. Choose from tenth storey penthouses, one to two bedroom + media room/den condominiums or two-story townhouses. Centre Square Place offers the convenience of living close to work, shops, restaurants, and Wascana Lake. Centre Square Place is based in Regina, Saskatchewan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-09 Elkhorn Resources

Calgary, Alberta, Canada

Elkhorn Resources, Inc. is a an oil and gas exploration and development company focuses on drilling wells.

Sell $427M
SELLER

Lex Capital Management

Regina, Saskatchewan, Canada

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2009
PE ASSETS 290M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Lex Capital Management is a private equity group focused on on early- to mid-stage companies seeking growth or acquisition capital in the energy, value-added agriculture and manufacturing and processing sectors. Lex looks to invest $1 to $5 million per transaction and generally targets opportunities in Western Canada. Lex Capital was formed in 2009 and is based in Regina, Saskatchewan.

DEAL STATS #
Overall 1 of 2
Sector (Oil/Gas Exploration) 1 of 2
Type (Add-on Acquisition) 1 of 2
State (Saskatchewan) 1 of 1
Country (Canada) 1 of 2
Year (2013) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-10-15 Villanova Oil

Regina, Saskatchewan, Canada

Villanova Oil Corp is a private junior oil and gas company, with a focus on the exploration and development of light oil prospects in southeast Saskatchewan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-30 Legacy Oil + Gas

Calgary, Alberta, Canada

Legacy Oil + Gas, Inc. is a light oil-weighted producer with approximately 22,000 boe/d of high-netback production, of which more than 15,000 boe/d is from conventional and unconventional plays in Crescent Point’s core southeast Saskatchewan, Manitoba and North Dakota areas.

Sell CA$1.5B
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