M&A Deal Summary

Pine Brook Partners and Riverstone Holdings Acquire Admiral Permian

On March 9, 2017, private equity firms Pine Brook Partners and Riverstone Holdings acquired oil/gas exploration company Admiral Permian

Acquisition Highlights
  • This is Pine Brook Partners’ 18th and Riverstone Holdings’ 40th transaction in the Oil/Gas Exploration sector.
  • This is Pine Brook Partners’ 26th and Riverstone Holdings’ 75th transaction in the United States.
  • This is Pine Brook Partners’ 17th and Riverstone Holdings’ 46th transaction in Texas.

M&A Deal Summary

Date 2017-03-09
Target Admiral Permian
Sector Oil/Gas Exploration
Buyer(s) Pine Brook Partners
Riverstone Holdings
Deal Type Buyout (LBO, MBO, MBI)

Target

Admiral Permian

Midland, Texas, United States
Admiral Permian is an exploration and production company focused on the acquisition and development of oil and gas properties. Admiral Permian is based in Midland, Texas.

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Buyer(S) 2

Buyer

Pine Brook Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2006
PE ASSETS 6.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Pine Brook Road Partners is a private equity group focused on growth capital investments in the energy and financial services sectors. Specific areas of interest within the energy sector include exploration, oilfield services, transportation/storage, power generation/distribution/transmission, and biofuel/renewable resources. Specific areas of interest within financial services include insurance, banks, asset management, specialty finance, and servicing/distribution/origination. Pine Brook generally acts as the lead/control investor in newly-formed or established businesses. The Firm has a special interest in 'underappreciated or overlooked' opportunities. Pine Brook Road Partners was formed in 2006 and is based in New York City.


DEAL STATS #
Overall 38 of 42
Sector: Oil/Gas Exploration M&A 18 of 20
Type: Buyout (LBO, MBO, MBI) M&A Deals 11 of 11
State: Texas M&A 17 of 20
Country: United States M&A 26 of 30
Year: 2017 M&A 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-22 Stonegate Production Co.

Houston, Texas, United States

Stonegate Production Co. is an oil and gas company focused exploration and production (E&P) opportunities in mature onshore fields in the US.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-03-30 Whitestar Asset Management

Dallas, Texas, United States

Whitestar Asset Management is a credit-focused investment management firm, with an emphasis on managing and providing other services with respect to CLOs and related credit securities. Its team of talented professionals has deep experience in investing in and managing bank loans, loan acquisition, loan origination, credit analysis, portfolio management, trading, collateralized loan obligation (CLO) investing, and CLO deal structuring and compliance. Whitestar Asset Management is based in Dallas, Texas.

Buy -
Buyer

Riverstone Holdings

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 40.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Riverstone Holdings is a large specialist asset management and private equity firm focused on opportunities in the energy and power industry. Specific areas of interest include oil & gas exploration, midstream transportation/logistics, electric generation, energy & power service, power infrastructure, and energy & power technology. Riverstone Holdings was formed in 2000 and is based in New York, New York.


DEAL STATS #
Overall 101 of 106
Sector: Oil/Gas Exploration M&A 40 of 42
Type: Buyout (LBO, MBO, MBI) M&A Deals 51 of 52
State: Texas M&A 46 of 47
Country: United States M&A 75 of 78
Year: 2017 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-05 Avant Energy

Mexico City, Mexico

Avant Energy is focused on the development, construction and operation of infrastructure for the country's oil, natural gas, refined products and electricity sectors, as well as on participation in the recently liberalized markets for these products and services. Avant Energy was founded in 2016 and is based in Mexico City, Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-03 Trail Ridge Energy Partners

Grapevine, Texas, United States

Trail Ridge Energy Partners is an oil and gas exploration and production company focused primarily in the Permian Basin in West Texas.

Sell -