ARC’s STEP Energy raises $56 mln for Tucker Energy buy
Calgary-based oilfield service company STEP Energy Services Ltd (TSX: STEP) has closed a bought-deal equity financing, raising proceeds of about $56.3 million. The company plans to use the funds raised for its proposed acquisition of Tucker Energy Services Holdings Inc, a U.S. provider of fracturing and completion solutions. The deal, announced last month, has a total cash consideration of about $350 million (US$275 million). STEP is a portfolio company of Canadian energy private equity firm ARC Financial Corp.
16 March 2018•4 mins read
