TriWest Capital-backed Source Energy postpones IPO
Source Energy Services Ltd, a provider of frac sand and logistical services to the oil and gas industry, has postponed its initial public offering on the Toronto Stock Exchange. Source, which recently priced the IPO to raise $300 million, said the delay was a result of "current adverse capital market conditions." Calgary-based Source has been backed by Canadian private equity firm TriWest Capital Partners since 2013. Earlier this month, Bloomberg reported STEP Energy Services Ltd, a Calgary oilfield service provider backed by ARC Financial Corp, had also postponed its IPO.
22 March 2017•2 mins read
