PE-backed Aspenleaf ties up acquisition of Arcan Resources
Aspenleaf Energy Ltd, a portfolio company of Canadian private equity firm ARC Financial Corp and the Ontario Teachers’ Pension Plan, has completed its previously announced acquisition of Arcan Resources Ltd, a Calgary oil and gas company. Aspenleaf paid 11 cents per share in cash for the company, or close to $300 million including debt, according to a Financial Post report. Founded in 2013, Aspenleaf is focused on the acquisition and development of light oil and liquids-rich gas assets in Western Canada. It is led by President and CEO Bryan Gould. ARC Financial recently closed its eighth energy fund, raising $1.5 billion in commitments.
9 June 2015•2 mins read
