Global private equity and venture capital news and research

PE-backed Vantage Energy sets sights on $400m NYSE IPO

8 Jul 2014

fuel-storage-facility-544619-mPrivate equity-backed Vantage Energy is set to float on the New York Stock Exchange with the hope of raising up to $400m.

Energy-focused private equity firms Quantum Energy Partners, Riverstone Holdings and Lime Rock Partners have had the controlling share of Vantage I since it was founded in 2006, and subsequently also invested in Vantage II four years later, according to the company’s regulatory filing with the Securities and Exchange Commission

Vantage, which focuses on acquisition, development and exploration of oil and natural gas properties in the United States, did not reveal how the private equity investors’ share holdings will be affected when the business goes public.

The proceeds from the IPO will be used to repay loans, said Vantage, which include $300m in second lien term loans and $25m under its revolving credit facility.

The cash will also go towards general corporate purposes.

During the last two years, Vantage’s total operating revenues increased significantly, standing at $37.4m as of December 31, 2012, nearly doubling to $66.2m at the end of 2013.

Underwriters for the deal include Barclays, Goldman Sachs, Citigroup and Credit Suisse.

It is the second of Riverstone Holding’s companies to float this year, with oil and gas producer EP Energy announcing an IPO priced at $23 and $27 per share in January, with the aim of raising about $1bn.

Copyright © 2014 AltAssets


Join the Private Equity & VC Fundraising & IR Group on LinkedIn. For LPs and GPs with an interest in private equity and venture capital fundraising, investor relations and marketing.

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: Zetland House, 5-25 Scrutton St, London EC2A 4HJ
Content is © AltAssets 2000-2015