Westbrick Acquisition, Valuation, Funding & Investors

Westbrick was acquired by Vermilion Energy for $747M in December 2024.

Westbrick acquisition price

$747M

Acquired by Vermilion Energy · Dec 2024

Cumulative funding Westbrick raised

$75M

across 1 funding round

Key investors in Westbrick

Westbrick Overview

About Westbrick

Westbrick Energy is a Canadian oil and natural-gas exploration and production company headquartered in Calgary, Alberta. Its business applies resource-development technology to conventional petroleum plays and builds inventories of drilling locations for future production. At the time of KKR's 2012 investment, its operations were concentrated in the greater Pembina area of Alberta. The company focused on opportunities involving liquids-rich natural gas and sought to expand its asset base through both drilling and acquisitions. Customers purchase the oil, natural gas and associated liquids produced from its properties, making commodity sales the principal source of revenue. Its operating activities include geological evaluation, land acquisition, engineering, drilling and production management. Westbrick was privately held and led by an experienced management team including chief executive Ken McCagherty. KKR provided initial equity capital in November 2012 and committed additional capital to support the company's development program. This profile describes the operating energy business rather than an investment fund.


Founded

2010

HQ

CanadaCalgary

Status

Acquired

Customer focus

B2B

Revenue model

Product sales

Valuation

$747M (acquired Dec 2024)

Sectors

Westbrick Acquisition

Westbrick was acquired by Vermilion Energy for $747M on 23 December 2024.

Before the acquisition Westbrick had raised $75M across 1 funding round.

Westbrick acquisition details
AcquirerDateTypePrice
23 Dec 2024Strategic M&A$747M

Westbrick Funding History

Westbrick has raised a total of $75M across 1 funding round.

Westbrick funding rounds

Westbrick funding rounds
DateStageInvestorsRaisedDeal Summary
Nov 2012Undisclosed stageKKR$75MKKR completed a C$75 million strategic equity investment in Westbrick Energy on November 19, 2012. The issuer release explicitly states that the investment closed earlier that day. Westbrick planned to use the proceeds for its capital program and acquisition strategy, making this a primary investment in the operating company rather than the purchase of an entire producing property from another seller. KKR also committed C$175 million for potential follow-on equity investments, bringing its total potential commitment to C$250 million. The structured proceeds include only the C$75 million actually invested at closing, and do not treat the future commitment as completed funding. Westbrick was a privately held Canadian exploration and production business with operations in the greater Pembina area of Alberta. Two members of KKR's energy and infrastructure team joined the board.

Who has invested in Westbrick?

1 investor has backed Westbrick across its funding rounds, including KKR.


Westbrick Investors

Investors in Westbrick by funding rounds participated
InvestorHQRoundsRoleFirst check

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Westbrick Competitors

Westbrick competitors include listed companies like Logan energy, BW Offshore, Pason Systems and CrossAmerica Partners, and private ones like Atlantic LNG Company of Trinidad and Tobago and Petronas (50% stake in two Brazil offshore fields).

Public and private companies comparable to Westbrick
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Logan energyCanadaCanadaPublicly listed$126M$85M$746M3.9x
BW OffshoreNorwayNorwayPublicly listed$510M$255M$743M3.6x
Pason SystemsCanadaCanadaPublicly listed$299M$93M$742M2.3x
CrossAmerica PartnersUnited StatesUnited StatesPublicly listed$3.7B$188M$755M0.4x
Atlantic LNG Company of Trinidad and TobagoTrinidad and TobagoPoint FortinPrivate--$850M-
Petronas (50% stake in two Brazil offshore fields)MalaysiaKuala LumpurPrivate--$900M-

Westbrick Public Comps

Westbrick is no longer listed, but its public comps include Logan energy, BW Offshore, Pason Systems, CrossAmerica Partners, Tamar Petroleum, Surge Energy, Viridien, Karoon Energy, TXO Partners and NPK International.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Logan energy$126M$85M6.6x3.9x9.7x6.3x
BW Offshore$510M$255M4.5x3.6x9.1x7.4x
Pason Systems$299M$93M2.3x2.3x7.5x6.1x
CrossAmerica Partners$3.7B$188M0.4x0.4x8.5x9.9x
Tamar Petroleum$300M$140M4.6x-9.8x-
Surge Energy$414M$190M2.1x1.6x4.5x3.2x
Viridien$1.1B$272M1.5x1.5x6.0x3.6x
Karoon Energy$629M$247M1.6x1.7x4.2x2.9x

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Common questions about Westbrick

When was Westbrick founded?Westbrick was founded in 2010.
Where is Westbrick headquartered?Westbrick is headquartered in Calgary, Canada.
Is Westbrick publicly listed?No, Westbrick was acquired by Vermilion Energy in December 2024.
Who acquired Westbrick?Westbrick was acquired by Vermilion Energy in December 2024.
How much was Westbrick acquired for?Westbrick was acquired for $747M in December 2024.
How much funding has Westbrick raised?Westbrick has raised $75M across 1 funding round.
What was Westbrick's last funding round?Westbrick's last funding round was a $75M undisclosed-stage round in November 2012.
Who are Westbrick's investors?Westbrick's investors include KKR.
Which companies are comparable to Westbrick?Companies comparable to Westbrick include Logan energy, BW Offshore, Pason Systems, CrossAmerica Partners, Atlantic LNG Company of Trinidad and Tobago and Petronas (50% stake in two Brazil offshore fields).

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