Advent International completed its acquisition of P2 Energy Solutions. The transaction joined together one of the largest and most experienced global investors with the leading provider of technology and software solutions built for the upstream oil and gas industry. The new partnership enables P2 Energy Solutions to make continued investments in its 1,500-plus customers, existing solutions, new product development initiatives and global expansion.
P2 Energy Solutions is a technology company that provides a comprehensive range of software, geospatial data, land management tools, and outsourcing to the energy industry. Advent International is one of the largest global investors dedicated solely to private equity. Since inception, the firm has invested in more than 280 buyout transactions in 36 countries, achieving over 230 full or partial exits, and today has approximately $32 billion in assets under management.
Advent was represented in the US by Weil, Gotshal & Manges LLP with a team including Douglas Ryder, Monty Ward, Paul Kuppich and Dov Kogen; and in Canada by Stikeman Elliott LLP with a team of Peter Castiel, Sophie Lamonde, Sarah Kingsley and Daniel Khazzam (M&A/corporate); Paul Collins (competition), Michael Dyck, Scott Perrin and Catherine Grygar (banking and real estate); Frank Mathieu and Philippe Kattan (tax); Gary Clarke and Cheryl Rea (employment and labour); Luc Vaillancourt (benefits), Jonathan Auerbach (IP) and Denise Duifhuis (corporate services).
Kirkland and Ellis LLP acted as US counsel to Advent with respect to the financing of the transaction with a team of Sonali Jindal, Nisha Kanchanapoomi, Joseph Correia and Dawne Lo. PricewaterhouseCoopers acted as financial advisor to Advent International with a team of Eoin Brady and Daniel Ku. Jefferies Finance LLC provided financing commitments to Advent International in support of the transaction.
Kirkland and Ellis acted as US counsel to P2 with a team that included David Breach, Marc Browning, Leah Recht and Remy Fesquet. Jefferies LLC acted as the exclusive financial advisor to P2.