Investment Summary

Lex Capital Management and PFM Capital Invest In Legacy Oil + Gas

On May 27, 2010, private equity firms Lex Capital Management and PFM Capital invested in oil/gas exploration company Legacy Oil + Gas for 10M USD

Investment Highlights
  • This is Lex Capital Management’s 2nd and PFM Capital’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Lex Capital Management’s and PFM Capital’s 2nd largest (disclosed) transaction.
  • This is Lex Capital Management’s 2nd and PFM Capital’s 2nd transaction in Canada.
  • This is Lex Capital Management’s 2nd and PFM Capital’s 1st transaction in Alberta.
Investment Fate
  • Legacy Oil + Gas was sold to a publicly-traded strategic buyer in 2015 for 1.5B CAD.

Investment Summary
Date 2010-05-27
Target Legacy Oil + Gas
Sector Oil/Gas Exploration
Investor(s) Lex Capital Management
PFM Capital
Deal Type Stake Purchase
Deal Value 10M USD

Target

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.

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Investor(S) 2

Investor

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 2 of 3
Sector (Oil/Gas Exploration) 2 of 3
Type (Stake Purchase) 1 of 1
State (Alberta) 2 of 2
Country (Canada) 2 of 3
Year (2010) 2 of 3
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-05-01 TriAxon Oil

Calgary, Alberta, Canada

TriAxon Oil Corp. is a private, Calgary-based exploration and development company. The company specializes in the application of advanced technology for the development of light oil resource plays such as the Bakken and Viking.

Buy -
FOLLOWING 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 -
Investor

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 2 of 22
Sector (Oil/Gas Exploration) 1 of 7
Type (Stake Purchase) 1 of 1
State (Alberta) 1 of 7
Country (Canada) 2 of 21
Year (2010) 2 of 5
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-26 Sun Country

Estevan, Saskatchewan, Canada

Sun Country is a private well-servicing contractor operating out of Estevan, Saskatchewan. The company’s use of newly constructed freestanding mobile service rigs, combined with a highly experienced management team and a board of industry veterans, will allow Sun Country to attract a diverse set of top-tier clients.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-08-06 Elgin Developments

Regina, Saskatchewan, Canada

Elgin Developments will coordinate the site development and construction of a condominium project on the former Elgin School property in Weyburn, Saskatchewan. Working with a respected builder to produce high-quality units, Elgin's experienced management team will capitalize on Weyburn's near 0% vacancy rate and the development's desirable location to secure buyers.

Buy -
Mergr

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