M&A Deal Summary

Denham Capital and NGP Energy Technology Partners Acquire MS Directional

On August 11, 2008, private equity firm Denham Capital and corporate investor NGP Energy Technology Partners acquired oil/gas exploration company MS Directional from The Stephens Group for 165M USD

Acquisition Highlights
  • This is Denham Capital’s 3rd and NGP Energy Technology Partners’ 1st transaction in the Oil/Gas Exploration sector.
  • This is Denham Capital’s and NGP Energy Technology Partners’ largest (disclosed) transaction.
  • This is Denham Capital’s 8th and NGP Energy Technology Partners’ 7th transaction in the United States.
  • This is Denham Capital’s 3rd and NGP Energy Technology Partners’ 1st transaction in Texas.
Investment Fate
  • MS Directional was sold to a strategic buyer in 2017 for 215M USD.

M&A Deal Summary

Date 2008-08-11
Target MS Directional
Sector Oil/Gas Exploration
Buyer(s) Denham Capital
NGP Energy Technology Partners
Sellers(s) The Stephens Group
Deal Type Secondary Buyout
Deal Value 165M USD

Target

MS Directional

Conroe, Texas, United States
MS Directional is a provider of directional drilling services in the United States. With operations in most major producing onshore oil and gas basins in the United States, MS Energy provides a comprehensive suite of directional drilling services including directional drilling, downhole performance motors, directional surveying, measurement while drilling ("MWD"), and wireline steering tools. MS Directional was founded in 1980 and is based in Conroe, Texas.

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Buyer(S) 2

Buyer

Denham Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2004
PE ASSETS 9.7B USD
Size Mega
Type Sector Focused
DESCRIPTION

Denham Capital Management is a specialist private investment firm focused on the energy and commodities sectors. Denham looks to invest in businesses and assets involving natural resources, metals and mining, power and utilities, and energy-related infrastructure and services. Denham will consider investments worldwide, with current projects in the US, Canada, South America, Europe, and Asia. Denham will also consider both development projects as well as mature, operating businesses. The Firm's target investment size is $50 to $200 million. Denham Capital Management was founded in 2004 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 13 of 46
Sector (Oil/Gas Exploration) 3 of 19
Type (Secondary Buyout) 1 of 1
State (Texas) 3 of 13
Country (United States) 8 of 26
Year (2008) 6 of 7
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-06 VitAg

Beech Island, South Carolina, United States

VitAg is a specialty fertilizer company, engages in the conversion of municipal biosolids into inorganic fertilizers. Its VitAg recycling technology brings together the wastewater and fertilizer industries to transform biosolids into slow-release organically-enhanced inorganic granular fertilizers.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-11-13 BTE Renewables

Fourways, South Africa

BTE Renewables is a clean and renewable energy company develops, acquires, owns and operates waste to energy, renewable energy, and energy efficiency projects in the sub-utility range of approximately 5-100MW. These include Golden Valley, a 123MW wind project in the Eastern Cape; Excelsior, a 33MW wind project in the Western Cape; Aggeneys, a 46MW solar project in the Northern Cape; Konkoonsies II an 86MW solar project in the Northern Cape and a 4MW biogas facility. BTE Renewables was founded in 2003 and is based in Fourways, South Africa.

Buy -
Buyer

NGP Energy Technology Partners

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Corporate Investor
Founded 2005
PE ASSETS 500M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

NGP Energy Technology Partners LP (“NGP ETP”) is private equity firm focused the energy sector. The Firm targets buyout and growth capital transactions in sub-sectors spanning alternative energy, energy efficiency, oilfield technology and power. NGP will consider both minority and control investments and looks to invest $5 to $30 million per transaction. NGP Energy Technology Partners is a subsidiary of the NGP Energy Capital Management. NGP Energy Technology Partners was formed in 2005 and is based Washington DC with an additional office in New Orleans.


DEAL STATS #
Overall 7 of 23
Sector (Oil/Gas Exploration) 1 of 2
Type (Secondary Buyout) 1 of 3
State (Texas) 1 of 8
Country (United States) 7 of 21
Year (2008) 2 of 2
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-04-25 Xunlight

Toledo, Ohio, United States

Xunlight specializes in the development of high-performance, flexible and lightweight solar modules. Through our innovative technology and high-speed roll-to-roll manufacturing process, we are revolutionizing the development of thin-film silicon-based photovoltaic solutions. Xunlight was founded in 2002 and is based in Toledo, Ohio.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-01-01 Environmental Drilling Solutions

Lafayette, Louisiana,

Environmental Drilling Solutions LLC is a provider of mobile cuttings drying units, pressure washers, and rig vacuum systems to the oil & gas industry.

Buy -

Seller(S) 1

SELLER

The Stephens Group

Little Rock, Arkansas, United States

Investor Investor Investor Investor Investor


Category Family Office
Founded 1933
PE ASSETS 1.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Stephens Group is a private investment firm focused on long-term investments in mid-sized companies. The Firm looks to partner with management teams when pursuing acquisitions. Sectors of interest include energy, energy services, business services, industrials, consumer products, consumer services, financial services, healthcare, technology, media, and communications. The Stephens Group was originally established in 1933 and is headquartered in Little Rock, Arkansas.


DEAL STATS #
Overall 7 of 28
Sector (Oil/Gas Exploration) 1 of 1
Type (Secondary Buyout) 2 of 6
State (Texas) 3 of 11
Country (United States) 6 of 25
Year (2008) 1 of 1
Size (of disclosed) 5 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2008-05-23 Acute Technological Services

Houston, Texas, United States

Acute Technological Services, Inc. is a provider of metallurgical and welding innovations to the oil and gas industry in support of critical, complex subsea component manufacturing and deepwater riser fabrication on a global basis.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2009-06-12 Buyers Protection Group

Alpharetta, Georgia, United States

Buyers Protection Group, Inc. provides critical consumer-centric services to help real estate professionals, home buyers, and home sellers in their real estate transactions.

Buy -