M&A Deal Summary

Pembina Gas Infrastructure Acquires Veresen Midstream

On March 1, 2022, Pembina Gas Infrastructure acquired oil/gas exploration company Veresen Midstream from KKR and Veresen

Acquisition Highlights
  • This is Pembina Gas Infrastructure’s 1st transaction in the Oil/Gas Exploration sector.
  • This is Pembina Gas Infrastructure’s 1st transaction in Canada.
  • This is Pembina Gas Infrastructure’s 1st transaction in Alberta.

M&A Deal Summary

Date 2022-03-01
Target Veresen Midstream
Sector Oil/Gas Exploration
Buyer(s) Pembina Gas Infrastructure
Sellers(s) KKR
Veresen
Deal Type Add-on Acquisition

Target

Veresen Midstream

Calgary, Alberta, Canada
Veresen Midstream is an independent natural gas gathering and processing business in Western Canada. Veresen Midstream was founded in 2014 and is based in Calgary, Alberta.

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Buyer(S) 1

Buyer

Pembina Gas Infrastructure

Calgary, Alberta, Canada

Category Company
Founded 2022
Sector Oil/Gas Exploration
DESCRIPTION

Pembina Gas Infrastructure is a gas processing entity in Western Canada. Pembina Gas Infrastructure was formed in 2022 and is based in Calgary, Alberta.


DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Alberta M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2022 M&A 1 of 1

Seller(S) 2

SELLER

KKR

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1976
PE ASSETS 267.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
KKR's office in Menlo Park, California.
KKR's office in Menlo Park, California.

KKR is a global investment firm founded by Jerome Kohlberg, Henry Kravis, and George Roberts. The Firm is separated into several business segments including private markets, public markets, capital markets, and other principal activities. KKR's private equity practice invests in management buyouts, take privates, corporate divestitures, industry consolidations, and partnerships with family-owned companies. KKR will invest in a broad range of industries and companies and will consider businesses throughout North America, Europe, Asia, and Australia/New Zealand. Sectors of interest include chemicals, consumer products, energy and natural resources, financial services, healthcare, industrial, media/communications, retail, and technology. In addition to its traditional principal investment activity business, KKR also invests in infrastructure assets. KKR was formed in 1976 and is based in New York, New York.


DEAL STATS #
Overall 175 of 215
Sector: Oil/Gas Exploration M&A 3 of 5
Type: Add-on Acquisition M&A Deals 60 of 69
State: Alberta M&A 1 of 2
Country: Canada M&A 1 of 3
Year: 2022 M&A 3 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-01 Pembina Gas Infrastructure

Calgary, Alberta, Canada

Pembina Gas Infrastructure is a gas processing entity in Western Canada. Pembina Gas Infrastructure was formed in 2022 and is based in Calgary, Alberta.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-03-10 +Simple

Marseille, France

+Simple provides self-employed professionals and SMEs with a digital insurance broker that simplifies the underwriting of business insurance. Its founding mission is to facilitate all insurance procedures for professionals by providing them with a one-stop shop, supported by its insurance partners. +Simple was founded in 2015 and is based in Marseille, France.

Buy -
SELLER

Veresen

Calgary, Alberta, Canada

Category Company
Founded 1997
Sector Energy Services and Equipment
Employees278
Revenue 323M CAD (2016)
DESCRIPTION

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.


DEAL STATS #
Overall 1 of 1
Sector: Oil/Gas Exploration M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
State: Alberta M&A 1 of 1
Country: Canada M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-12-22 Veresen Midstream

Calgary, Alberta, Canada

Veresen Midstream is an independent natural gas gathering and processing business in Western Canada. Veresen Midstream was founded in 2014 and is based in Calgary, Alberta.

Buy -