M&A Deal Summary

EnCap Flatrock Midstream, Global Natural Resource Investments and Highstar Capital Acquire Caiman Energy

On January 1, 2009, venture capital firm EnCap Flatrock Midstream, private equity firm Global Natural Resource Investments and private equity firm Highstar Capital acquired oil/gas exploration company Caiman Energy

Acquisition Highlights
  • This is EnCap Flatrock Midstream’s 2nd, Global Natural Resource Investments’ 4th and Highstar Capital’s 1st transaction in the Oil/Gas Exploration sector.
  • This is EnCap Flatrock Midstream’s 2nd, Global Natural Resource Investments’ 2nd and Highstar Capital’s 14th transaction in the United States.
  • This is EnCap Flatrock Midstream’s 2nd, Global Natural Resource Investments’ 1st and Highstar Capital’s 3rd transaction in Texas.
Investment Fate
  • Caiman Energy was sold to a strategic buyer in 2012 for 2.5B USD.
  • Caiman Energy was sold to a publicly-traded strategic buyer in 2012 for 2.5B USD.

M&A Deal Summary

Date 2009-01-01
Target Caiman Energy
Sector Oil/Gas Exploration
Buyer(s) EnCap Flatrock Midstream
Global Natural Resource Investments
Highstar Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) Barclays Investment Bank (Financial)

Target

Caiman Energy

Dallas, Texas, United States
Caiman Energy is an independent midstream energy company that provides the infrastructure and services necessary to move natural gas products from the wellhead to market.

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Buyer(S) 3

Buyer

EnCap Flatrock Midstream

San Antonio, Texas, United States

Investor Investor Investor Investor Investor


Category Venture Capital Firm
Founded 2008
PE ASSETS 9.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

EnCap Flatrock Midstream is a private investment firm focused on venture related opportunities in the midstream energy sector. EnCap Flatrock seeks majority positions in natural gas gathering, treating, processing and storage; crude oil gathering and transportation; and natural gas liquids fractionation, storage and transportation. EnCap Flatrock Midstream is affiliated with investment firm EnCap Investments, a large diversified energy investment firm. EnCap Flatrock is based in San Antonio, Texas.


DEAL STATS #
Overall 2 of 29
Sector: Oil/Gas Exploration M&A 2 of 19
Type: Buyout (LBO, MBO, MBI) M&A Deals 2 of 13
State: Texas M&A 2 of 23
Country: United States M&A 2 of 29
Year: 2009 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-01-01 Cardinal Midstream

Dallas, Texas, United States

Cardinal Midstream provides oil and gas producers with a complete array of midstream services including natural gas gathering, compression, processing and treating.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-11-02 Meritage Midstream Services

Golden, Colorado, United States

Meritage Midstream Services LLC is a provider of oil and gas producers with a full complement of midstream services.

Buy -
Buyer

Global Natural Resource Investments

London, United Kingdom

Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Global Natural Resource Investments was formed by a management buyout of the former Barclays Natural Resource Investments private equity business from Barclays Bank PLC in October 2015. GNRI is focussed on the global natural resources sector, specifically on upstream oil and gas (excluding the US), mining, associated services and power. The Group has additional offices in Dubai, and Doha.


DEAL STATS #
Overall 7 of 22
Sector: Oil/Gas Exploration M&A 4 of 10
Type: Buyout (LBO, MBO, MBI) M&A Deals 7 of 20
State: Texas M&A 1 of 1
Country: United States M&A 2 of 6
Year: 2009 M&A 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 CEOC

London, United Kingdom

CEOC is a Central and Eastern European oil and gas development business. CEOC is redeveloping mature oil and gas fields in Hungary and has signed Heads of Terms with INA to do the same in Croatia. CEOC was founded in 2009 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-09-09 American Wind Capital Co.

Old Saybrook, Connecticut, United States

American Wind Capital ("AWCC"), led by Charles C. Hinckley is a leading company in the wind energy royalty acquisition business. AWCC was formed for the purpose of purchasing long-term royalty payments from property owners who receive royalty income from wind power projects in the United States.

Buy -
Buyer

Highstar Capital

New York, New York, United States

Category Private Equity Firm
Founded 2000
PE ASSETS 7.8B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Highstar Capital is a private equity fund focused on investments in infrastructure related companies and assets. Highstar specifically targets businesses that deal in energy, transportation, waste management and water. The Firm will consider opportunities throughout North America and Europe. Highstar Capital was formerly known as AIG Highstar Capital. The Firm was formed in 2000 and is based in New York City.


DEAL STATS #
Overall 15 of 21
Sector: Oil/Gas Exploration M&A 1 of 3
Type: Buyout (LBO, MBO, MBI) M&A Deals 11 of 17
State: Texas M&A 3 of 6
Country: United States M&A 14 of 19
Year: 2009 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-10-01 London City Airport

London, United Kingdom

London City Airport an offers access to over 45 destinations within the United Kingdom, Europe and the United States. The airport is an integral part of the London airport system and offers a service proposition based around location, convenience, speed and customer service. London City Airport was founded in 1985 and is based in London, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-08-01 Sustainable Energy Solutions

Jacksonville, Florida, United States

Sustainable Energy Solutions LLC (“SES”) was formed for the purpose of capitalizing on the burgeoning demand for renewable energy in the United States. SES is a well capitalized privately held company focused on being a high quality developer, owner and operator of renewable energy projects utilizing multiple renewable energy technologies.

Buy -