M&A Deal Summary

Pembina Acquires Veresen

On May 1, 2017, Pembina acquired energy services and equipment company Veresen for 9.7B CAD

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

M&A Deal Summary
Date 2017-05-01
Target Veresen
Sector Energy Services and Equipment
Buyer(s) Pembina
Deal Type Add-on Acquisition
Deal Value 9.7B CAD
Advisor(s) Scotia Capital, Inc. (Scotiabank - Global Banking and Markets) (Financial)
Osler (Legal)

Target

Veresen

Calgary, Alberta, Canada
Veresen, Inc. owns and operates energy infrastructure assets across North America. Veresen is engaged in three principal businesses: a pipeline transportation business comprised of interests in the Alliance Pipeline, the Ruby Pipeline and the Alberta Ethane Gathering System; a midstream business which includes a partnership interest in Veresen Midstream Limited Partnership, which owns assets in western Canada, and an ownership interest in Aux Sable, which owns a world-class natural gas liquids (NGL) extraction facility near Chicago, and other natural gas and NGL processing energy infrastructure; and a power business comprised of a portfolio of assets in Canada. Veresen is also developing Jordan Cove LNG, a six million tonne per annum natural gas liquefaction facility proposed to be constructed in Coos Bay, Oregon, and the associated Pacific Connector Gas Pipeline. In the normal course of business, Veresen regularly evaluates and pursues acquisition and development opportunities.

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Buyer(S) 1

Buyer

Pembina

Calgary, Alberta, Canada
Category Company
Founded 1954
Sector Energy Services and Equipment
Employees2,623
Revenue 9.1B CAD (2023)
DESCRIPTION

Pembina is an owns and operates of an integrated system pipelines that transport various products derived from natural gas and hydrocarbon liquids produced in western Canada and North Dakota. Pembina was founded in 1954 and is based in Calgary, Alberta.

DEAL STATS #
Overall 2 of 3
Sector (Energy Services and Equipment) 2 of 3
Type (Add-on Acquisition) 1 of 1
State (Alberta) 1 of 2
Country (Canada) 1 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-17 Paramount Resources - Natural Gas Processing Assets

Paramount Resources - Natural Gas Processing Assets includes gathering pipelines, sales gas pipeline and future disposal wells.

Buy $556M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-21 Kinder Morgan Canada

Calgary, Alberta, Canada

Kinder Morgan Canada Ltd. operates as an energy infrastructure company. Kinder Morgan Canada owns and manages pipelines that transport natural gas, gasoline, crude oil, and carbon dioxide. Kinder Morgan also operates terminals that store and handle petroleum products and chemicals.

Buy CA$4.4B
Mergr

Product

Company

Legal