M&A Deal Summary

Logan International Acquires Xtend Energy Services

On March 5, 2012, Logan International acquired energy services and equipment company Xtend Energy Services from 32 Degrees Capital for 53M USD

Acquisition Highlights
  • This is Logan International’s 2nd transaction in the Energy Services and Equipment sector.
  • This is Logan International’s largest (disclosed) transaction.
  • This is Logan International’s 1st transaction in Canada.
  • This is Logan International’s 1st transaction in Alberta.

M&A Deal Summary
Date 2012-03-05
Target Xtend Energy Services
Sector Energy Services and Equipment
Buyer(s) Logan International
Sellers(s) 32 Degrees Capital
Deal Type Add-on Acquisition
Deal Value 53M USD

Target

Xtend Energy Services

Okotoks, Alberta, Canada
Xtend Energy Services is a private energy services company that focuses on developing tools which mitigate the effects of friction in deviated and horizontal well bores.

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Buyer(S) 1

Buyer

Logan International

Houston, Texas, United States
Category Company
Founded 1993
Sector Energy Services and Equipment
DESCRIPTION

Logan International, Inc. is a manufacturer and seller of fishing and intervention tools in North America and internationally. Logan's quality fishing and intervention tools, including retrieving, stroking, and remedial tools, and power swivels are used in well work-over, intervention, drilling, and completion activities across the globe.

DEAL STATS #
Overall 2 of 3
Sector (Energy Services and Equipment) 2 of 2
Type (Add-on Acquisition) 2 of 2
State (Alberta) 1 of 1
Country (Canada) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-10-01 Kline Oilfield Equipment

Tulsa, Oklahoma, United States

Kline Oilfield Equipment, Inc. (KlineTools) manufacturer of downhole tools in Oil and gas industry.

Buy $11M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-01 Smith International - Drilling Jar Product Line

Houston, Texas, United States

Smith International, Inc. - Drilling Jar Product Line is a distributor of Sup-R-Jar drilling jar line in US.

Buy $17M

Seller(S) 1

SELLER

32 Degrees Capital

Calgary, Alberta, Canada

Investor Investor Investor Investor

Category Private Equity Firm
Founded 2004
PE ASSETS 275M CAD
Size Middle-Market
Type Sector Focused
DESCRIPTION

32 Degrees Capital is a private equity firm focused on opportunities within the energy sector. 32 Degrees typically partners with management teams when pursuing transactions and looks to leverage its industry experience and network to build value in portfolio investments. 32 Degrees was founded in 2004 and is based in Calgary, Alberta.

DEAL STATS #
Overall 3 of 6
Sector (Energy Services and Equipment) 1 of 1
Type (Add-on Acquisition) 3 of 5
State (Alberta) 3 of 6
Country (Canada) 3 of 6
Year (2012) 1 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-07-01 Caltex Energy

Calgary, Alberta, Canada

Caltex Energy, Inc. is a energy company with heavy oil and natural gas assets in Saskatchewan and Alberta respectively, employing both grassroots exploration and development and acquisition and exploitation strategies. Management looks to use the exploitation success developed at Krang Energy to continue to find and develop assets at industry leading costs.

Sell $622M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-26 Sitka Exploration

Calgary, Alberta, Canada

Sitka Exploration is a private oil & gas company that focused on grassroots exploitation of Ellerslie, Glauconite, and Elkton targets in the deep basin of West Central Alberta. Sitka Exploration was founded in 2011 and is based in Calgary, Alberta.

Buy -
Mergr

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